Buying a new car can be a daunting experience. It is important to do some research before hitting the dealership lots. There are some tips that a person can use in order to find the best vehicle. Here are some things to consider before making a major investment.
Purchase at the Right Time
Dealers must usually meet monthly sales goals. This means that shopping at the end of the month may yield better deals. It may also be a smart idea to buy a “leftover” model. This can be found at the end of the sales year, just as the new models are hitting the showroom. December is usually a slow month for car sales. This means that a dealer may be willing to give some extra incentives.
It is smart to stay away from dealerships on the weekends. This is the busiest time, so salespeople will not be as willing to make a good deal. Weekday mornings are much better. This is a slow time, so salesmen will be motivated to make some concessions on prices.
Buying New or Used Cars
The first thing to consider is whether it is best to buy a new or used car. The biggest advantage of buying used is that it can save money. For people who do not have a lot of money to use as a down payment, buying used may be the only option. Just because the car is not new does not mean it is junk. For example, certified used cars have been inspected and repaired to meet a manufacturer’s specifications. Often, these cars are only a few years old and will come with a good warranty.
Always Ask for Quotes from Multiple Dealers
It is always a customer’s advantage to have various dealer quotes when shopping for a car. This creates an atmosphere of competition. A dealer will want to beat the competitor’s offer and give the best deal possible. This is a great negotiating tactic.
Consider Loan Options
Most people who buy cars will need to borrow money. Most dealers have their own financing department. This is where dealerships make the most profit. They mark up interest rates. Before settling on a dealership loan, it is better to try to get assistance from a local bank or credit union. However, certain times of year the dealer will offer great promo rates that can be hard to turn down.
Know What Is Needed
Before hitting a dealership, a person must consider individual needs. A large family will want to consider an SUV with large cargo capacity. For off-road travel, four wheel drive will be a necessity. A commuter car should be fuel efficient. In this case, a hybrid model may be the wisest choice.
The above tips will help a person buy a new car. It is always smart to consider things before actually stepping foot on a dealer’s lot. In the end, a person will be able to find the best vehicle for individual needs at a great price.