We all have that certain car that we’ve been dreaming of having since we were a kid. At some point of your life, having a car is a reality we need to face. Owning a car nowadays is essential since it’s much easier to get to work than commuting through buses. To help you get a great deal in buying your dream car, here are 15 essential tips.
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- Do your research
Know all the basic details of the car online, like specifications and price. By doing your research, you can also compare other car brands and models.
- Look into pre-financing options
When you’re planning to loan a car, you should at least differentiate interest rates of shops and banks, and go to the one with the smallest interest rate to car loans.
- Shop around
When buying a car, it is not necessary that you do it in one day. Take time in shopping from different dealership stores and you don’t need to be in a rush when choosing the best car that suits your preference and your budget.
- Buy a car within your price range
Don’t buy something because it’s on trend or on sale. Choose a car that is within your budget range and the car’s worth is right for its price.
- Negotiate terms
Try negotiating and get the least price possible so you can save a couple bucks.
- Look at both new and used cars
Consider looking at second hand cars, as not all used cars are throwable cars. You might not know, you’ll land on a great one.
- Buy based on purchase price, not on monthly payments
One of the biggest mistakes a buyer can do is buying it on monthly payments. There is nothing that will make a car seller drool over more than a person who purchases cars at monthly payments. When you do monthly payments, you’ll end up buying the car at 1.5x its price or more.
- Utilize the internet
Use the internet to do some research and check the actual price. By doing this, you’ll get enough knowledge and won’t be easily scammed.
- Don’t mention your trade in
Just don’t. When you mention trade ins in a negotiation, most likely what would happen is the negotiation would not happen. Only mention trade ins when necessary.
- Factor in insurance costs
In buying cars, always factor in insurance cost. That is because some auto insurance rating factors, such as driving record or vehicle type have a huge impact on the cost of car insurance.
- Avoid impulse buying
Don’t buy just because you feel like it. Most like what would happen if you do this is you’ll end up regretting your decision.
- Don’t purchase the add-on
Usually add-ons are nothing but designs and does nothing. Only buy these when you get some extra cash.
- Don’t buy the extended warranty
Although warranty is a good thing to have, don’t buy the extended one. The normal warranty is enough.
- Always test-drive the car
Don’t believe in “this car has no issues”. Not being sceptical, but always trust your gut and test-drive the car.
- Visit the mechanic when buying used car
When you decide to buy an already used car, go visit the mechanic as they are the ones who have more knowledge when it’s about cars.