When you have decided that it is time to make a new car purchase there are several things that you may or may not have considered that can save you a lot of money. I have several friends in the automotive sales industry and have gotten valuable advice from them over the years. These are some of the things that have helped me out.
Timing is everything. The time of year, month and the weather, all come into play when it comes to the price of your car. Typically cold winter months do not draw crowds out to the car lots. This creates a higher pressure for the salesmen to push any and every car out the door that they possibly can. Car salesmen work on a commision basis and when the pressure is on them to make a sale, they will put the pressure on you. The best time of year to buy a car would be in a warmer month towards the middle of the month. The end of every month sales managers are looking at the employee numbers and the heat is on for poor producing salesmen.
Decide if you are willing to go with a used car. Sometimes buying a used car is the best course of action to take. Cars quickly lose their values when they are driven off the lot. If you only use your cars for normal usage like going to work, the grocery store, and taking the kids to school then a used car might be a good option to avoid paying a hefty price tag.
Decide the type of car you would like. This is important because salesmen will often show you what they have in their inventory and may not mention they can get you the car you really want if they do a little leg work. Dealerships often work with other dealers to help them retain their customers. If you don’t see your car ask if they can get it from another dealership. They will more than likely do this for you as they do not want to lose your business.
How will you pay for your car? This is probably the most important question you will have to anwser. Taking out a auto loan is how most people obtain financing for their vehicle. Your bank or a credit union is most likely to give you the best interest rate on your purchase. Many auto makers also have financing available. It is best to avoid in-house financing as the rates are much higher and can sometimes become sub-prime loans.
Choose your options wisely. Sure all of the bells and whistles are nice but be practical and think about what you will and will not use. If you are a single person having rear facing dvd players may not be a good choice for you. With the same thought if you are a single person having a GPS may be a better fit instead.
Overall buying a car is the second biggest purchase you will probably make and hopefully these tips will help you.