Buying a car is a huge investment because you spend thousands of dollars. This is the reason why you should know about a few car buying secrets, so that you don’t regret your decision of buying the wrong car at the wrong price.
Do Thorough Research
It is very important that you perform thorough research before purchasing a car. You will have to do some strategic planning, and careful observation, and comes up with a list of cars that you like within your budget. When you will go to the car dealer with complete information about the car and its pricing, the sales rep will know that you are not someone who can be fooled.
Know Your Credit Score
A lot of dealers rely on the fact that some people have no idea about their credit scores and history. Some of these dealers can be quite tricky, as they will try to misinterpret your scores so that their finance officer can charge you with a higher interest rate. Make sure that you take your credit score with you, so that you can’t be fooled this way. You can get one free credit report per annum. If you feel the need to get a more recent report, then all you have to do is spend $20 on a new one. It is advised that you study it carefully and get rid of any mistakes and clear up old accounts, before buying a new car. If you want a good deal, then you can talk to your bank, as they are often able to negotiate better with the seller because of their interest rates.
Remember That You Are In Charge
Remember that a salesperson’s biggest fear is a well informed client. They will not be able to fool you if you will be well-prepared. It is important that you have the right kind of attitude, so that you can end up with a great deal.
You Can Find So Much Online
A lot of car dealers have printable promotions on their social media pages and web sites. Find them, and print them out, so that you can get credit for them. Now this may save you thousands of dollars, but it might save you a few hundred dollars, which is great.
Be Patient
It is recommended that you buy a car on the last day of the month, because a lot of sales representatives are eager to sign a deal, so that they can document it in their commission schedule. The more cars they sell at the end of the month, the more commission they get. So in order to seal the deal, they might end up offering you a lot of incentives.
You Can Share Salesperson Incentives
Ask your salesperson what they will get if they will sell you the car. A lot of times the management has contests on certain car models to give birth to compete in their staff. If you offer to buy the car then and there, then are the chances that the sales rep will divide the perks with you in order to get a great commission.
Take the Car Dealer for a Test Drive
These days the sales representative doesn’t always go with you on test drives. If that is the case with you, then ask your sales rep to join you, and ask them whether you can take the car for an extended test drive. During the drive do not allow them to take control of the conversation, or otherwise they will use their sales tactics to give you the impression that the car is perfect for you. Instead, you should ask them a number of questions, so that by the end of the right they cater to all your demands, just so you could leave.
Learn the Art of Negotiation
The last time you purchased a car, you were unaware of the negotiation part with the car salesman. Now you do, so don’t allow the management to bully you into anything. If the manager does not agree to your given price, then threaten them that you will walk out of the deal. They will surely negotiate, as they can’t afford to lose business.
Beware of the Finance Officer
Don’t feel pressured once you are in the finance manager’s room, as they might try to sell you added protections and warranties for an additional price. If there is a good warranty package, then ask about it in detail. Furthermore, get your agreement signed by the manager, and not the sales representative because the managers tend to stick around more.
Get the Additional Perks
A lot of people head off home in their new car, after they sign the agreement. You may feel that the job is done, but you can still get a few perks. You can ask your salesperson to give you a tour of the service department and make sure that you meet the manager. Greet them in a friendly manner, and then inquire about any promotions that are going on. There is no harm in asking, and you might end up with a service coupon completely free of cost. Secondly, make sure that your fuel tank is full, because dealers are supposed to sell a new car that way. A lot of salespeople forget to refuel the car after a test drive, so if your fuel tank is not full, then you can ask for a gas voucher. Finally, scrutinize a car for any dents or scratches. Have a good look at the exterior, as well as the interior. If there are any imperfections, then make sure that you document them, because then it is the responsibility of the showroom to get it repaired for free. Followed all these steps? Congratulations! You are the owner of a new car and you didn’t even get ripped off!
