Getting The Best Deal For Your Money With A New Car
Have you been burned by a dealership before? Failed to factor in all the costs of buying a car? Or did you simply buy a brand new, shiny car, only to find that it wasn’t really what you needed? The buyer’s journey through the auto market can be a hard one, full of many different questions that can tug you in all kinds of different directions. This guide is here to offer a little direction. Here are eleven pointers on how to make sure you get the car you need for the money you have.
Be in a good position to buy it
If you need a new car right this second, then waiting for too long may cost you money. For instance, if you’re someone who needs to drive to clients for business, you don’t want to wait. However, if you can hold off on the purchase a little, then it’s wise to do it simply to help boost your credit in the meantime. Reports from www.ConsumerReports.org show how your credit score can affect not just the financing repayments on your vehicle, but how much you will have to spend on it right out the gate. You want to make sure you have understood and budgeted for the average pre-purchase costs, as well, so you don’t find yourself running out of money before you have your hands on the vehicle.
Scan the market
One major issue that some buyers have is that they find themselves tempted towards cars they like, rather than cars they need. This can lead to you spending much more than you actually need to. If costs are on your mind, then you need to prioritize those first and foremost. Which are the most fuel efficient cars? Which offers you the most functionality and, thus, bang for your buck? Which have the safety features you need to help prevent you forking over your cash for repairs in the future? Learn what you want from your car to pick the right one.
Consider the time of the year
As mentioned, if you need a car right now, then the costs of waiting on one might outweigh the price drop you get from waiting for the right times of the year. If you already have a car you plan on selling or you can simply wait for some time, it might be worth it. www.BankRate.com outlines some of the best times of year to buy, when prices are slightly down, and why this is so. For instance, at the end of Q4 each year, around September, you might find dealerships are all too happy to haggle. This happens because they might be at the end of their sales year and looking to do what they can to meet sales goals, including offering cheaper vehicles.
Out with the old
How are you paying for the new car? If you’re doing it entirely on savings and credit, then you can skip this tip. However, if you’re planning on selling your old car, then you need to make sure that you’re getting a good deal for it. First of all, make sure the car is in as good a condition as it can be and ensure you have the logbook to prove it. When you’re negotiating with the dealer, make sure to come with facts, such as how much the car is initially worth and how much depreciation affects that particular model. You will never get 100% of the amount that the research suggests you deserve (as they need to be able to make a profit off it), but you can make sure you don’t get next to nothing in return for it.
Know the running costs
Back to the buying process. You may already have some idea of one or two models that you’re interested in buying. One way to help you compare the value of both of them is to figure out the running costs. This includes the costs of maintenance, fuel consumption, and just about everything besides insurance. There are calculators at sites like Calculator.me to help you do just that. It might be tempting to simply buy the cheapest auto you can find, but if it’s particularly unreliable and in need of constant repairs or it is a fuel-guzzling monster, it may end up costing you more than you saved.
How new does new need to be?
Is it essential that you buy a brand-new car? Some would argue that you should never buy new. After all, there may be some cars that are used but have only been used for a year or less. You’re functionally buying almost the exact same car, but with a serious discount, as depreciation starts to take hold as soon as a new car leaves the dealership. But, if you want to make sure that you’re not buying a used car horror story in-waiting, then look at the programs offered at places like www.WCVolvoCars.com. Pre-owned cars that come with certification have particular standards to meet, so they are practically guaranteed to be in a better condition than the used cars you might find from independent owner-sellers.
Make sure it doesn’t come with any hidden risk
If it’s a brand-new car, then this check isn’t entirely essential. When you’re buying any used or pre-owned car, however, it’s only wise to ensure that there aren’t any lingering troubles that could end up forcing you to fork out cash for some repairs in the near future. Some sellers are willing to hide factors that could scupper their deal, others simply may not be aware of it. Beyond your own investigation, you should make sure you get a pre-purchase inspection on a new car before you commit to it.
Don’t be afraid to negotiate
What’s the game plan when you have found the car you like and you’re heading to the dealership? Negotiation is always an option, but first, you should be aware of how much leverage you have. For instance, make sure you’ve done your research on the car, understanding its standard market value as well as how much depreciation might have affected it. You also want to consider what time of year it might be, and how keen the salesperson or seller may be to get rid of it or if they’re able to stick to their guns. Do a little prep work with tips from sites like Lifehacker.com. You might not be able to shave off too much during negotiations, but it’s work at least trying.
Beware the extras
Now, it’s easy to jump into assuming that all the extras that dealerships offer you aren’t worth the money, but that’s not strictly true. Some dealerships offer you exclusive service packages that can help you get replacement parts, repairs, and other mechanic services much cheaper than your local garage. However, some extras don’t offer quite as much in return. For instance, whether or not you should buy an extended warranty depends on how you plan on using the car. Do you anticipate owning it beyond the initial warranty period? If so, you should take it. If not, you shouldn’t. Don’t be dazzled by the sales pitch that comes with any extras. Take the time to really consider what they’re offering and how much value you expect to get from it if you take it.
Make sure you’re comfortable with it
You don’t want to buy a car only to find out that you’re not as comfortable behind the wheel as you hoped, or that there are some factors that could end up becoming a nuisance. Buying a car that you fall out of love with is the easiest way to end up selling it before you should. This may as well be throwing money away. Sites like www.GQ.com tell you how to effectively test-drive a car. You’re primarily looking out for any hidden issues, but it’s a good opportunity to learn the feel of a car and to see exactly how it drives. You shouldn’t skip it if possible.
Don’t forget about insurance
Insurance is a factor that should always be playing on the back of your mind during the process. Partly because your car can factor in your insurance payments. For instance, a flashy sports car will cost you more to insure than a car that’s loaded with advanced safety features. It’s all about how the insurance provider perceives the risk of one car compared to another. There’s a lot of choice, too, so make sure to scan the market. Carefully consider what level of coverage you need. If you’re not buying a brand-new car or you’re getting one that isn’t particularly fancy, then you might not need comprehensive insurance that covers theft, for instance. Do your research, know your needs, and pick the right provider.
It might be a lot to take on, so break it down into chunks. Start by looking at your budget, how much car you can afford to buy as well as how much you can set aside for pre-purchase costs. Once you know your limits, it’s much easier to stay within them when looking for that vehicle.