The Do’s And Don'ts When Buying a Car

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The Do’s And Don'ts When Buying a Car Buying a car, whether it be a brand new one or second hand, it can be one of the most important decisions in life. It is crucial to know what to do and what not to do; it can make all the difference in your vehicle loan and the life of your vehicle.

Before stepping into the dealership, ensure that you have put yourself in a position to leverage the best car deal for yourself. Knowing the process of buying and how to navigate it is the best way to have a smooth buying experience. Negotiations will have some give and take on both sides but knowing where to be flexible and where to be firm is the key. So here’s the list of dos and don’ts you have to go through before finalizing the deal at a car dealership.

Do: Research as much as you can This is the internet era where the internet is filled with vast information from around the world. Do make use of the platform, research online before you finalize your deal. You can find the information about pricing, features, performance, and reliability of the vehicle you are looking to purchase. Be like those customers who know the car they want and the price they should pay for it before showing up.

Do not forget to get a pre-approved financing offer from your bank, credit union or an aggregator. Without a pre-approved financing offer, the dealership will have no incentive to work hard to earn your new car financing business. The car dealers today get a cut of any auto loan that they get buyers to accept. The offers they present might seem like a great deal, but they aren’t always the best for the customers. So it is still best to get a pre-approval prior to remain on the safer side. Don’t: Go without a car loan pre-approval

It is crucial to know how much you can pay upfront and how much you can afford to pay every month. You will also have to consider other expenses like insurance, fuel and maintenance costs, keep all of those as a part of your new car research process. Knowing your credit score as per what's on your credit report can have you the best car finance deal available. Do: Know your budget and Credit Score

Car dealers tend to offer unnecessary items to customers like corrosion protection, paint sealant, fabric protection, and window etching of the vehicle ID number. These are some of the common ways to get you to pay extra for the items you don’t quite need as much. You can even get those services later for less money. Don’t: Buy unnecessary Add ons

It is recommended to pay the down payment with your credit card, that way if your dealer goes out of business before picking up your car you can challenge the payment with your card issuer. Be careful while signing documents; make sure you don’t sign anything with items left blank. This is where a dealership can falsify information like your income or the size of the down payment on loan applications. Make sure you don’t agree to be responsible for any extra interest on loan payments for the trade-in after you have signed the bill of sale. Do: Pay your down payment with credit card

Learn to walk out if a salesperson raises the price you negotiated. Use your lowest competitive quotes and estimated dealer-cost figure as leverage if you are planning to do the final negotiating in the showroom. And most importantly avoid negotiating around a monthly payment figure since this gives the salesperson too much room to manipulate numbers to the dealer’s advantage. Do: Negotiate

Finally, buying a car can be exciting and at the same time, an emotional experience that can get in the way of getting a perfect deal. You have to be firm yet friendly. Be confident with your knowledge as your lack of confidence and impatience can give professionally trained sales consultants the upper hand.

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The Do’s And Don'ts When Buying a Car