CommentHow to Get a Good Deal on a Great Car
This is a guest post by Scott Hersh. You can also write a guest post about how to get hired.
Ah, love at first sight. It makes a great story about how you met that special someone, but when it comes to buying a car, falling in love too early can cost thousands of extra dollars. A car salesman’s ideal customer, from a profit perspective, is the consumer who is interested in buying but did not bother to do any research before walking into the dealership. As my old roommate used to say to me, “Don’t be that guy.” By going to the dealer uninformed you risk finding a car and prematurely falling in love with it. Love-sick individuals do irrational things, including spending too much money.
Follow these steps to buying the car of your dreams at a great price.
Know what kind of car you want
Some people are the types that eagerly await the delivery of their monthly car magazine subscription. Those types probably already have a good idea about the type of care that they most want to own. But if you are like the rest of the world, it’s a good idea to start considering what features are important to you in a car, and what types of cars are available as a first step. Some things that are most important to consider are safety features, gas mileage, leg room, storage space, resale value, and your budget.
Once you’ve put together an initial list of things that are important to you for your car to have, you are ready to start requesting advice. Now it’s time to find out which car models fit into your specs. Here are some places to go to start doing your homework.
- Ask experienced family
- Go to car forums and ask people what they recommend for you based on your needs
- Consumer Reports
- Ask friends on Facebook
Know what kind of accessories you want
Before deciding on a final price you will want to know that you are getting everything that you want included in the price. Car salesmen pull tricks all the time, where they offer all types of upgrades and bonuses only after settling on a price. To the chagrin of the consumers bank account, these “little extras” can end up costing a lot extra. Here are some of the things to be sure are included in the price of the car before agreeing on a price.
- Sound system options
- Engine options
- Air conditioning/ heater options
- Car alarm options
- Anything else that you want that cars don’t necessarily come with
Know the Hidden Fees and Finances
Don’t jump into agreeing on a price too quickly, there are some more fees that show up on the price of a car invoice, that may or may not be fair to you. One thing is for sure, you need to know what you are paying. Here are some things that are listed as extra costs on car invoices.
- Sales tax
- Registry fees
- Incentives
- Doc fee
These fees, although mostly inevitable, are often artificially raised by dealers simply to increase their profit. Take note that some of these costs vary from state to state too, which might make a trip to another state worth it when you are ready to buy. To avoid paying too much, simply ask the dealer to present to you all of the expenses up front -- especially if you're buying a used car. Then when you negotiate the price, you can negotiate the price that you actually pay, and not the pre-extra-expense price. And by the way, if after doing so, the dealer still tries to add extra charges, walk away.
Know Your Dream Car’s True Price
Knowing the prices that your dream car sells for will greatly improve your bargaining power. Try any of these online references to find out what you can expect to pay.
It is best to get quotes from a few websites, and then you can find the best deals available. Many people opt to skip the negotiation process altogether in favor of buying right online.
Buying a Car Bonus Tips
- Go to the dealer when they are not busy, like during the workday instead of the weekend
- Dealers are usually more eager to sell at the end of the month
- At the end of the year dealers are eager to sell that years models in order to make room for the new models
- Certain models of cars begin their new “model year” well before the year actually ends. Which means that sometimes the new models may come in to dealerships as early as nine months before the end of the year. By doing a little research you can find out when dealers are receiving the new models and plan to buy just a little before that.
- You can use your car to make cash which might help pay for it
Although these steps might not seem as romantic as getting feverish and falling in love right there in the dealership, they will help you to find the car that is compatible for you and your budget. By learning about your car, and taking an interest in it before driving off the lot, you will be building the foundations for a beautiful relationship of passion and compatibility.
Did you try any of these tips to get a good deal when you bought your last car?
Scott Hersh is a business blogger for BCAblog.com the official blog of BCA: leaders in merchant cash advances.
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