Buying a new car is a major financial investment for most people. If you’re a saver, you’ve likely spent hours working, and even more hours tabulating your savings waiting for the day you’re finally ready to bite the bullet. If you’re comfortable with financing most of your purchase, the wait might not have been so long until you’re ready. But, either way, there are a few important things to remember when buying a new car that will ensure you get a great deal on your purchase.
The first big secret is to know a whole lot about the car model or models you’re interested in well before you ever head to a car lot. You can do research on almost every car currently in production on reputable websites like Cars.com. You can filter your search results but specific makes and even trim levels of vehicles. There is also a comparison tool that allows you to look at several models side by side. Knowing all the details of the car model that will ultimately land in your sights will likely include knowing its value. Knowing this key piece of information will ensure you don’t fall for an inflated ticket prices at the dealership and will put leverage in your corner when it comes time for negotiations.
Another huge component of getting a great deal on your next car is to shop around. You might find the exact car you’re looking for at the first dealership you visit. But, there is nothing wrong with making the salesmen work for the deal. And, rest assured, any dealership that carries the kind of car you’re looking for, can get any model or special features you want. Be sure to visit a few dealerships before settling on a specific car and pick the one that is most reputable, and makes you feel most comfortable about doing business with them.
Finally, if you’re going to finance your next car purchase, make sure you know what’s lurking in your credit report well before a potential lender pulls it. If you have any less-than-stellar information in your report, it could save you thousands of dollars in interest to clean it up well before submitting your loan application.