10 Things You Should Do When Purchasing a New Car
Thinking about getting a new car deal in 2018? Ensure you have enough time to plan and get set for the big purchase. Buying a car is a reality that you will at some point come face to face with. A car is typically the next most expensive thing that people buy after settling in their own house. Dealing with some of the car sales people can be greatly frustrating. Therefore you have to adapt several sophisticated measures that will ensure you get the best deal, save on money and significantly reduce the amount of stress that you may otherwise have encountered in the process. In this brief, I have compiled some of the best car buying tips that you should follow carefully.
Making The Right New Car Purchase Decision
First thing first, do you need a brand new car or a second hand car? Your budgets and the financing method shall determine this. However, there are several things that you are supposed to take into considerations before making such a decision. One of them is the resale price. Most of the resale cars lose up to half their value within the next three years.
The amount your car will slum in value over time is a thing that is worth consideration. On the other hand, a new car is considered better than a second hand car because you will save a great deal of money on repair and maintenance. Make up your mind about the type of car that you want. You don’t need to buy a two seat car if you know in the next few months you will have a family. Make a decision that you know will affect your utility at the end of all.
Understanding Your New Car Make and Model Selection
You should have a clear cut between what you want and what you see on the road. Make a list of all the vehicles that you see on the streets that you like. You can also research some of the highly recommended cars from the internet or from friends and family. Many individuals these days are turning to apps such as TrueCar to make informative decisions based off of the pricing for specific model and trim packages available in their local markets. Next, ask yourself several questions regarding your choice. You need to be sure of what you want, are you looking for a family car that has ample space inside, are you looking for fuel-efficient car that will save you money, are you looking for something that will allow wind to blow through your hair? Just make your decision. This is your car and you are the one who will drive it.
Deciding the Correct New Car Spend or Expenses
Your choice of the make and model that you choose can either save you money or help you spend more on fuel, maintenance and repair. Before you get to a dealer to finalize your purchase, consider your budget and set a spending limit based on your current and future financial ability. Research the sale value and know how much you can resell your car in future in case you want to upgrade or the rise of another issue.
Understating Your New Car Financing Options
As I stated earlier, a car is the next most expensive purchase that your household has to deal with in 2018. Before approaching a dealer, have a sense of what kind and amount of deposit you have to put down and what monthly payment that you can be able to put down. Have an insight of how much auto loan that you can qualify for and how capable you are to repay back. You can as well select some of the services in the market such as Auto gravity that allows you to select rates and terms of service that suits your budget and get offers from lenders that are available in the market.
Remember To Do Enough Research on Your New Car
When making a huge purchase, research is critical. Knowledge is power and therefore clear information is key before you get into the process of buying a car. First of all understand your taste and preference of the car that you want. Then do thorough research about the model and the type of car that is satisfactory and matches your budget. You don’t want to be frustrated arriving at the car dealer without the knowledge of the car that you really want. In today’s market their are many different types of packages that you can add to your vehicle. Generally the vehicle’s you see in TV commercials or Digital Advertisements are not the base model and the one you are drooling over having.
The reality of the matter is that you can get everything that you want to know about that car online. Just sit down on your computer and search about relevant features of the car and the price. In addition, you can approach a friend who has a similar car and inquire some of the basic information about the quality of the car and the consumption rate. If you are considering buying a second hand car, then research the recent resale prices for that specific car. This is the first point of gathering your bargaining powers.
Do Enough New Car Window Shopping
One of the ways to know what’s hot in the market and what’s not is to do some window shopping first. Unless there is an emergency situation in your life, then space enough time to shop around. Just walk in and visit at least two dealerships. This is one of very effective ways of checking the competing prices in the market. It also makes sense to check on out-of-town dealership. Dealers price vary with location and hence you should be smart enough. Using sites like KBB.com or Edmunds.com will help you navigate your path through the used car world as well if you are looking for a second hand vehicle.
Consider the Interest Rates When Purchasing a New Car
When you are buying a new, used or very used car you have to consider the interest rate. You have to understand the current marketplace for interest rates and your personal financial situation. You have to do enough research about your lender, the vehicle you are buying, your credit rating and several other factors that can greatly affect your financing option.
Any interest rate up to 10.25% is good for you. However, you should ensure that you don’t get a car loan that attracts a high interest rate. When you are going through a dealership, then you should be careful since they usually push up to 2% of interest rate for themselves. Otherwise apply directly through a bank or credit union for the best deal. If you have to use the dealer bank as your first solution understand that in 6-12 months you can always try to refinance your vehicle with a private bank or credit union to reduce your interest rate.
The Best Time to Buy a New Car
You are the only person who can decide the time you want to own a new car. However, there are those times in the year that you will get the best deals. You can consider at the end of summer, end of the month when the inventory is assessed, or even at the close of the model year. You can also wait for festive seasons such as Christmas when most of the dealers’ have special offers. If you have all the finances prearranged and all the other preparations in line, then even the end of the day is a good time to purchase your car.
Always Test Drive The New Car Before Your Purchase It
You should never buy a car without test drive. If you want to decide on several makes and models, you can test drive all of them in your list to enable you make informed decisions. There are several reasons why you need to test drive a car. The first one is to get used to the handling. You need to get used to the brakes, whether they are too touchy or not. You also need to get used to the steering wheel. Whether the slightest turn of the steering wheel causes a big reaction.
You also need to test drive a vehicle to determine whether there is enough space. Looking at the pictures of a vehicle online can probably bring a different space picture in your head. Maybe you have kids that will be occupying the back seats or maybe you need enough space for your supplies. Therefore, taking a test drive will give you an insight of what you should expect.
The other reason is to explore the car benefits. You will not be able to determine how comfortable the car is until you sit on it. You can read about different features in a car but the best way to interact with them is through a test drive.
Beware of Unwanted Extras When Purchasing a New Car
Most if not all of the dealers are always ready to throw some extras. Some of them are free and others are at a cost. Take enough time to think about the extras that you need before walking out with some of which you didn’t want and leaving those that are beneficial. Some of the extras are extended warranties, rust proofing, and paint protection among many other.
However, some of the extras will can offer you discounts on your insurance premiums. The cost of insurance changes greatly according to what you are driving and how well you are protecting your car. Therefore, get the best deals and utilize all the necessary extras.
One amazing product that is taking the New Car Automotive Market by storm is AVAS. This is the first app ever to reward drivers for simply driving. As you rack up the miles they send you discounts, offers, prizes, insurance discounts, plus much more. It also offers you a mobile app to managing the location and health of your vehicle while protecting it 24/7 with instant security zones and stolen vehicle recovery call centers. GPS Leaders recently started offering AVAS to it’s clients and their New Car Dealers were amazed with the New Car Dealer GPS Tracking program for Dealers as well.