April 15, 2014
Buying a car is not a simple matter. What are some of the rules that will serve you well. What should you NOT do?
Buying a car is not a simple matter. What are some of the rules that will serve you well. What should you NOT do?
One major rule to follow is that you do not tell the dealer what you want your monthly payment to be, they will tweak the price until you get that monthly payment, along with alot of other junk. You dont need alot of the stuff they are selling along with the car, you dont need gap coverage and the paint seal and safeguarding the carpeting , those are just ways the dealer makes more money. You are best off buying a used car also due to saving a large amount of money in the process, it is also wise to not buy the first time to the dealer and you want to shop around as much as you can before you buy that car. Make sure you know what a fair price for the car is and make sure you have the cash to pay for the car on hand, there is no reason to get a loan to buy the car, buy a cheaper car if you dont have the cash on hand to buy the fancy one. The more you know the better you will be buying a car.
Great comments, Garrett. Let’s review.
NEVER tell the other party what you can afford to pay in a monthly payment. While you are at it, save your money and buy that car with cash. The monthly payment issue goes away by doing that.
Buying from a private party is usually cheaper than buying from the dealer. Especially when you have done your research and know exactly what a vehicle is worth.
NEVER tie up your self-image with the car you have. You are not smarter/happier/richer just because you own a snazzy vehicle. It is a big hunk of metal that gets you from point A to point B. Detach who you are from the stuff you drive!
Used cars (older than 2 years old) are much cheaper and lose their value at a much lower rate over the years. Focus on buying a good, quality used car with cash and then drive it for a very long time as you maintain it carefully.
Final point: Go through the car buying process as few times in your life as possible. Your bank account will thank you!