Purchasing a new or used car can be overwhelming. We have compiled 13 car buying tips to help you on your next auto purchase to eliminate stress and enter a dealership with a peace of mind.
Rushing into a purchase will only shift the negotiating leverage toward the dealer because you, the buyer, are more likely to walk away with-out making a deal. One of the costliest things you can do is visit a dealership and drive away with a new vehicle 3-4 hours later.
Research. Everyone can get access to facts and figures about vehicles. Research pricing and see which dealership has the lowest pricing for the vehicle you are want-ing. Conduct as much online research as possible before you visit a dealership, starting with www.edmunds.com, www.caranddriver.com, and www.motortrend.com all provide excellent industry reviews to help you research the vehicle you are interested in and to compare similar models.
Spend enough time behind the wheel to become familiar with the vehicle’s performance. It will be too late to return once you purchase the vehicle that the vehicle is noisy going 75 mph down the interstate or the seats are uncomfortable for long road trips.
There are many certified pre-owned programs that manu-factures have raised the bar on used cars. Most include:
Do not allow “feature creep” to creep in. Optional features may seem like a necessity but can dramatically increase your purchase price. Stick with your list.
You have done your research. You have arranged financing with your financial institution. You have assessed your needs. Do not let the dealer talk you into a vehicle that costs way more than you have budgeted for to avoid the buyer’s remorse.
The dealer will profit more off your trade-in and will “muddy the waters” on the details of your vehicle purchase. By selling your vehicle, you will prevent a mistake that will cost you money. If you decide to trade in, here are some tips:
If you focus on the monthly payment, you may end up with an inflated interest rate and a longer term than you wanted. This mistake is a very costly one.
By the end of the lease, you will not own the vehicle. You will have to repeat the process all over again. You could be upside down and lease interest rates could be higher.
This will prevent a costly mistake! Without a loan pre-approval, you will be pushed into their financing that profits the dealer more than helping you.
Let the Credit Union review your Purchase Agreement before you take delivery of your new vehicle and you’ll feel like a champion!
Keystone Credit Union is here to help you save more and to help prevent costly mistakes. We want you, our member, to save where you can rather than give away your hard-earned money.