Buying a brand new car (not just a car that's "new" to you) is an exciting accomplishment for anybody. If you're in the market for your first brand new car, however, you'll want to make sure you're getting the most for your money. As you shop around and visit dealerships in your area, there are some common mistakes you'll want to avoid.
Negotiating From the MSRP
The manufacturer's suggested retail price (MSRP) is a common starting point when it comes to haggling on the price of a vehicle, but it's not usually in your best interest to start here. This price (also known as the sticker price) does not reflect how much the dealership actually paid the manufacturer for the vehicle itself. That would be known as the invoice price, and it's better to negotiate by working your way up from that price, rather than negotiating down from the MSRP.
Not Researching Finance Options
Unless you plan on paying for your car in cash, you'll definitely want to take your time researching your finance options on your first new car. While many dealerships offer financing, you'd be best served by applying for some vehicle loans online first. If you have less-than-ideal credit or if you don't have much of an established credit history, then it may make sense to seek financing through your dealership, as dealer financing tends to cater to those with imperfect credit.
Focusing Too Much on the Monthly Payment
It's easy to get caught up in wanting to know exactly how much your new car is going to cost you each month. However, if you focus too much on lowering your down payment, you're most likely going to end up with a long, drawn-out loan term that will result in you paying significantly more in interest down the road. Try to stick with a shorter loan term that you're comfortable with; you'll pay your car off sooner and save money on interest this way.
Rushing Through a Test Drive
Last but not least, take your time on test driving vehicles, even if you're pretty sure you know what you want. Test drive each vehicle not just on local streets and side streets, but on freeways and expressways as well. You're likely going to be in your new car for many years, so you want to make sure you'll be happy with the one you end up buying.Share
18 October 2017
Hello, my name is Greg Brown. Welcome to my website about buying cars from auto dealers. When I went to purchase my sports car, I was delighted to find so many options in my area. The sports cars were all available to inspect and test drive at my leisure. I was able to find and acquire my favorite car with a single visit to the local auto dealer lot. On this site, I will explore the various ways that auto dealers can help you find your ideal cars. Thank you for coming to visit my website. Come back again soon.