Tips On How To Buy A New Car

Published: July 8, 2021

How To Buy A New Car - You are in the drivers seat when negotiating the price of a new car. Many people make the same mistakes when shopping because they don’t know how to negotiate. We have compiled a list of things for you to review before making your purchase.

Ignoring your needs. To paraphrase the immortal words of Mick Jagger, you can’t always get what you want, but at least in the realm of vehicles, you’re much better off with what you need. Don’t let the dealer up-sale you.

Bad research and no research. Buying a car is not rocket science, but you could compare it to a high school term paper. To do it right, you’ve got some homework ahead of you.

Picking the most conveniently located dealership. No, they’re not all the same — not even for the same exact makes and models. Ask around — learn from friends’ experiences. Also, determine your seller’s C.S.I. (Customer Service Index), which is a ranking generally maintained by automakers for the dealerships that sell their vehicles.

Going by payment, rather than price. This is an easy mistake to make, since most of us budget, and therefore think, in terms of monthly figures rather than going by grand totals — and gee, paying only $400 per month sure sounds better than, say, $500, even if the car payments do drag on a bit longer with the former.

Prematurely talking trade-in. This is another easy trap to fall into because dealers love to play the trade-in game. Don’t let them muddy the waters: Negotiate a satisfactory price for the car — then bring up your trade-in.

Not shopping interest rates. Too many car buyers ignore the importance of shopping interest rates, apparently thinking that if the payment fits into their monthly budget okay, it must be all right. But unless you have excellent credit, you’re most likely better off getting your financing elsewhere. The little differences in the numbers can be huge.

One-stop shopping at the dealership. The big advantage to doing that is convenience — but in terms of financing, if you shop around via local banks, credit unions and other lenders, you may well get yourself a better deal on a car. Other things you should shop around for: various add-ons and accessories.

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