Buying a used car can be tricky, no matter how much you already know about cars. There are lots of different things to consider so that you don’t end up buying a piece of junk that breaks down right away. Use some great tips of the trade in the following article to help you make your next car choice.
Your wants and needs must be defined before buying a car. How much money can you afford to spend? How many people are you going to be driving around? What sort of fuel economy are you looking for? Do you need four or two doors? Write down the features you want to avoid forgetting any.
Don’t forget to look into the cost of parts for a vehicle before you buy it. Some cars, especially imports, cost significantly more to maintain than others. Investigate the cost of parts that wear out frequently, such as tires, brakes, and windshield wiper blades. Research the cost of alternators, spark plugs, and other engine components, too.
If you are in the market for a used car, you should always get a CarFax report. The CarFax report will let you know if the car has been in an accident. If the car has been in an accident, you probably want to keep searching and not buy that car.
Look online for incentives on the car you want. Many automotive manufacturers offer cash back or special financing on their vehicles. The dealership will not always tell you about these things up front. Take some time to educate yourself first so you can get the best deal once you are in the showroom.
Figure out how much you can afford on a car payment before you get there. If you wait, your eyes will be big, and you will be willing to pay anything to get what you want. Start out with a firm figure and do not allow yourself to be moved by anything the salesman says.
Understand the financing office. Most dealerships make the bulk of their money in the financing office. Your interest rate, extended warranties and other add ons are all sold at a premium once you are in there. Understand this, and select any of those options carefully. Most are not necessary for the average car owner.
Talk to your friends and neighbors before buying your car. Ask what their experience was like with various dealerships, and visit only the dealerships that you are hearing positive things about. This can save you a lot of hassle while you are shopping and make your car buying experience that much more pleasant.
The car industry makes money on any margin of profit. If you can find out how much the dealership is generally buying their cars for, it will make it much easier to find their bottom line. This means you need to do some research on your local car market.
Before you start researching what kind of car you should purchase, you need to look into your current situation. Don’t decide your budget based on the car, but decide the car you will purchase based on a realistic budget for you and your family. Doing so will save you financial headaches.
To make your negotiations go smoothly when purchasing a new car have a minimum of a twenty percent down payment saved. By having a down payment, you will be able to lower your interest rate and payments and have leverage when discussing your trade in options. You may find that you will net more savings by not trading a car in and selling it on your own.
The goal of a salesperson is making top dollar. This should be obvious, though good salespeople can mask this motivation. Also, avoid extras when negotiating your sales price. Even a car that’s cheap can get additions that cost quite a bit of money.
Incentives need to be understood before negotiations begin. You should know all you can about trade-in policies and values, fees from financiers, car warranties, incentives and rebates. You will be in a better position to negotiate if you are aware of the various offers prior to arriving at the dealership to make your purchase.
You should contact your insurance agent and get a quote for the model you are interested in. A car that looks affordable in itself might not prove so once you find out your new premiums. Find yourself a vehicle that strikes the right balance between car price and insurance rates you can live with.
Do you want to buy new or used? There are certain situations that might make it better for you to buy new, but if your budget does not allow for it, there are great used deals as well. Learn about warranties and rebates on both new and used before you begin shopping.
Before you ever start negotiating price, you should have your bottom line in mind. You don’t want to get caught up talking price without your parameters or they will be set for you. Refuse to talk price until you have researched your options. This will fare you better when striking your deal.
As you now know, there are many things to consider when purchasing a used car. There are lots of different warning signs to look out for, but if you take the time and do your research, you can end up with a great car that will last for years to come. So go out there and find your next dream car!