Do you remember your first salary? How about receiving your first football trophy in high school? How about receiving your degree? You still remember those moments. Don’t you? Now, how about when you bought your first new car? Yes! You remember that day too. The excitement of purchasing a new car is a thing of untellable splendor.
Be it a new or an old car, getting your hand on your first vehicle feels like an accomplishment. You must have experienced it. You are sitting in the car, driving for the first time, and showing it to your neighbors. Unforgettable!
It’s like a toy. A new one grants you a superior status in your friend’s circle. But sadly, when the toy gets old and rusted, nobody wants to keep it. The same goes for a defective car that can give you migraines.
At times you’ll realize that you’ve bought a car at a higher price than your neighbors. Other times you might get confused about which car you need to buy as you’ve seen hundreds of cars already.
To obtain a car is as much as a financial strain as it is mental stress. It doesn’t matter if you’re a new buyer or an experienced one, a few smart car buying tips cannot hurt you, right?
If you think that a test drive and affordable price are useful tips, then you’ll find our tips valuable. The following car buying tips can make your life easy before you sign under that dotted line.
1. Research the dealership
Buying a new car from a dealership is like a tour guide in a new country. You don’t know much about the country, but if you connect with the tour guide on a personal level, you might extract some extra favors.
A car dealership can offer you some extra things, a promise to deliver early and might help you to fast track your car papers. The purchase process of the car begins and ends at the car dealership.
It’s good to know your neighborhood car dealer, but if you haven’t read reviews of that dealership online, this is the right time to do so.
Search for rating, reviews, feedback, and what people are saying about that dealership. If you find it difficult to get any reviews online, you should start asking people in your neighborhood.
Gather as much data as you can regarding that car dealership. It will help you a lot while you make your first car purchase.
2. Car budget
If you’ve already allotted a budget for your car, that’s good. Even if not, then your dealership can also help you here. Various car dealerships offer you customized finance plan. For example, a prominent automobile dealership Saxton 4×4 offers you multiple financing options, including lease purchase, hire purchase, and even monthly payment plan suited to your needs.
If you are a shrewd bargainer, you can even convince your dealership to lower the asking rates. After buying the car, certain expenses that can arise, like the maintenance costs, the fuel, and the licensing fee, etc. Ideally, it’s best to have some extra cash separated for these expenses.
3. Don’t just rely on one car dealership
So, you’ve planned to buy a car. After the initial research, you might’ve known the price and specs of the car. Maybe the dealership you are visiting is costing too much. It might be best to take quotes from more than one dealership.
It’s the age of the internet. You don’t even need to visit every car dealership. Check online forums, call the dealership, and ask for a quote.
Once you have done your research, you can now head to your dealership fully prepared. You are aware of any jargon the salesman might try to throw your way. A buyer who has done the homework can never be conned.
4. Understanding the invoice price
While some buyers do negotiate, others don’t bother to negotiate at all, as the price seems right. The windshield price is always negotiable. At times the buyers are not able to negotiate the price because they don’t have the proper knowledge or expertise to do so.
One insight that might help you is the ‘invoice price.’ The price of a car, as mentioned on the factory’s invoice is not the actual cost of it.
It is how much the dealer paid to buy the car; not the actual price of the vehicle. When you know that the dealer has some margin, you can quickly negotiate.
At times there will be factory-to-dealer discounts or customer rebates that can be used. If you don’t know about any such discounts, the salesperson will not offer any of them to you. So, it’s better to look up for any ongoing discount offers.
5. Time your purchase
Choosing the right time to buy a car can be the difference between a bargain and an expensive buy. There are a couple of holiday seasons around which you can get a car at an economical price.
Say, at Christmas, or on Black Friday there are a lot of reasonable discounts on the market. It is because the car dealership needs to clear out the cars for the new cars to arrive in January.
At times the price of the older car models will be reduced because the car will be available next year.
If it’s mid of the year, try going at the end of the month. A salesperson will be happy to sell at a low price just to reach their monthly goal. Therefore, there will be room to negotiate.
Moreover, it is observed that spring and the weekends are the worst time to purchase a car. Avoid buying cars these days.
In a nutshell
Buying a car is something personal. You might forget some of the points just because you are so excited. So, the best approach is to make a checklist before you make a deal. Check the points mentioned here, and get ready to race your dream car on the road.