How To Make Sure You’re Getting A Good Deal On A New Car.
Thinking about buying a new car? Maybe your first car drove but it’s time for an upgrade, or maybe your car is on the brink of death and your new purchase is out of necessity. Regardless of the reason, buying a new car for the first time can be nerve wracking — so here are the best practices to help avoid buyer’s remorse.
1 – Don’t wait until you are desperate.
This can big the single biggest mistake a new adult can make. Seriously, do not convince yourself your car has another year of life when you know it’s on it’s last leg. Not only will you risk being car-less at what will inevitably be an inopportune time, but you will lose your negotiation power at any dealership because you’re a desperate buyer.
2 – Do your research.
Start by listing what you want versus what you need in a car. Is it important you buy brand new or used? Why? A brand new car can lose up to 40% of its value the moment you drive it off the lot! Also, consider the amount you are putting toward the down payment. You don’t want to be underwater on your first loan. That said, do you even want to have a car loan? Can you afford to save up and pay cash? This may mean buying used. Is a two door car really the most fitting if you want to have a big dog or kids in your future?
3 – Don’t go alone.
If you have someone older and wiser willing to car shop with you, be willing to take their advice. Trust me, it is less painful to learn from others mistakes and they might even help during negotiations so you save money. I had a good friend who was a top car salesman himself in another city. You bet I took him to the dealership with me!
4 – Don’t forget about taxes and fees.
You would think this goes without saying but it is shocking how many of us think price they will pay for a car is the number on the sticker in the windshield. Remember with a car, you not only have state sales tax, you also have licensing and registration fees. These can add up to thousands of dollars in addition to the purchase price.
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