For many, visiting a car dealership, either new or used, is something they’d rather avoid altogether. It ranks right up there with going to the dentist, but it doesn’t have to be that way. If you’re shopping for a new or used car and your shopping takes you to the dealership, take note of these five tips, from experienced buyers and professionals alike, to ease the stress and get a good deal.
Stick to Your Budget
This is really the most important part of your car-buying decision, and you should do this well in advance of shopping make and model. Even if you can pay cash for your new car, your financial obligations are going to last for years, perhaps a decade. Set a budget that you are comfortable with, including car payments, car insurance premiums, refueling costs, and regular maintenance. Then, when shopping, stick to your budget to avert future financial pain.
Before you go shopping, either new or used, do your research. If you don’t know what model you’re looking for, then looking at specifications across the board may help you to narrow it down. Once you get to the dealership, instead of looking at all their models, you can narrow it down to one or two. Check the prices on various trim levels to see what value they offer and what you need, and don’t get drawn into spending “just this much more” for a feature you don’t really care about.
Price, Not Payments
When shopping for a car, don’t shop payments. Instead, shop overall price, including any rebates or special deals. A salesperson can easily say the “car payment” is just $300, but it’s likely over a longer term. You’ll just end up paying more in interest. Perhaps a lesser-priced car or higher down payment will help get that payment down instead of a longer term.
Let it Go
If you have an existing car, you may be tempted to trade it in towards the new one, but you may be better off selling it privately. The dealer may say they’ll give you $500 for your trade-in, but you might be able to get $1,500 or more selling privately. If you ask the dealer for that price, they’ll likely give it to you but tack it back on somewhere else in the deal, and you’ll end up right where you started. When considering any deal, don’t get stuck on one number, but consider the whole package.
Timing is Everything
You’re most likely to get a better deal if you plan your visit to the dealership well. Usually, weekdays are better than weekends, because there are fewer shoppers. The end of the month is a good time, since that’s when sales associates are usually trying to make those last few sales to meet quotas. The best time is when the new models come out, and the old models are yesterday’s news. Patience pays off!
Buying a new or used car doesn’t have to be a headache, and the research tools that we have today can make your visit to the dealership far easier than it used to be. These tips can save you time and stress, not to mention let you keep a little more of your hard-earned money.Tags: car dealership