Last Updated on January 16, 2019
We all dream about purchasing a new car for ourselves that has never been driven by anybody else. Sure, new cars may cost more than used cars, but they are more personal to the owner and they retain that new car smell which we all adore. However, this doesn’t mean you should just go out and purchase any new car that looks good. You need to know the secrets on buying a new car so you can learn to get a good deal while getting a new car at the same time.
Top 5 Tips
Below are the 5 tips that are most recommended for doing this.
- Research – Before you do anything, you need to research all the new cars at the dealerships in your area. Fortunately, this is an easy thing to do with the internet and mobile apps that allow you to find pictures, reviews and more about cars and dealerships in your area. Choose a dealership that has positive reviews and a car that looks like something that you’d want to drive. But, figure out the miles-per-gallon of the car and make sure that it is economical for your budget.
- Check Your Credit First–Before going to the dealership and having them do a credit check on you for auto financing approval, go to your bank and have them run a separate credit check. If all looks good, fill out a loan application for auto financing with your bank. Your interest rates will be a lot better on this loan versus the auto loan that a dealership will give you.
- Find Trade-In Value of Current Car–Chances are that if you’re going to purchase a new car, then you already have an existing car that you’re going to get rid of. Before trading in your car at a dealership for credit toward your new car, find out the official trade-in value for your car in its current condition. Often times, dealers won’t give you the true trade-in value of your car if you’re in the midst of purchasing a new car. You need to find out the true value prior to going to the dealership and then request that amount in credit for your car.
- Buy on Holidays–Dealerships will often give huge discounts on all their new vehicles if it’s a holiday. You will likely see flyers in the mail or advertisements on the internet whenever a dealership has a new discount available for a specific holiday. Take advantage of these special offers because it could save you 10% or 20% off the normal price.
- Get a Warranty–Protect yourself and ensure that your new car is in proper working order. A warranty on a new car will mean that if something goes wrong with the car that you’re not responsible for, the dealership will pay for the repairs for you.
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Buying a new car can be affordable if you know how to negotiate and pick the right time to make the purchase. By using the tips described above, you should now have a clear idea on how to make that happen.