Multiple Car Loan Quotes: Car Buying Tips
So, you're in the market for a new car but you're not sure where to begin? Here are some tools you can use to assist you in your next car purchase.
Shop When the Need is Low
The main rule you should follow when shopping for a new car is an oldie but a goody - never let them see you sweat. The less you actually need the car, the more likely the car salesperson will offer discounts and other incentives to get you to buy. However, if the salesperson can see the desperation on your face, your ability to negotiate a great deal will decrease significantly. The salesperson will know that you will most likely purchase the car that day before leaving the dealership, regardless of the deal.
Secure Funding Before You Shop
Many people often fall in love with a vehicle before realizing the financial impact such a purchase would have. If you have already test driven the car and cannot wait to take it home, you might be inclined to talk yourself into any loan amount - you don't need to go out to dinner ever again, right? Your best bet is to secure financing first, based on what you can comfortably borrow and pay back. Then, shop only for cars within that price range. In addition, by comparing multiple car loan quotes, you can ensure that you get the best deal possible for your loan. You can start your loan search today by completing our brief online form.
Compare Automaker and Dealership Incentives
Before purchasing a vehicle, make sure to carefully review all available incentives. Some automakers offer pretty significant incentives, like 0 APR or cash back deals. These incentives can equate to thousands of dollars in savings. In addition, some dealerships are able to offer dealership-specific discounts and other specials on top of the automaker's incentives.
Do Your Homework
Purchasing a car often entails a series of negotiations, from the price of the car to how much you will get for your trade-in, and a good negotiator always comes fully prepared. You should know what the current market value is for the car you are considering. In addition, you should be aware of the true cost for any extras you plan to add on to the car, like satellite radio or a navigation system. Finally, make sure to find out what your old car is worth by looking up the Trade-In value on Kelly Blue Book. Some auto dealership might give you slightly less than the blue book value but this information at least will give you a starting point for negotiations.
Never Show Your Hand
Ok - you absolutely love the car. It's the exact model and color with all of the extras on your list. The price isn't too bad either, but could it be better? If a salesperson can tell that you are excited about purchase a particular vehicle, he or she will be less likely to throw in any extra incentives to close the sale. Let the salesperson know that you are interested but you need to think about it - the best way to make a car salesperson sweat is to leave the dealership. Chances are they will be in contact with you to find out what they can do to sweeten the deal for you and put a lid on the sale.