Rich’s Tips For Buying A Car

1. Do a needs assessment. Look at the vehicles that fit what you need, not simply what you want.
2. Review your budget. That means you have to have one! How much can (and should) you spend monthly including gas, payment, insurance, and maintenance?
3. Begin your research online. The internet has a wealth of knowledge. Use it to your advantage! You want to know the kinds of questions a salesperson will ask. You want to be as prepared as a boy scout. This will give you more confidence and lower stress at the dealership.
4. Look at three or more dealerships before a final decision. Don’t let a salesperson try to hurry or push you into a deal. They will often try to convince you that tomorrow will be too late to get the deal you want. Don’t believe them. There is always another deal.
5. If you are married, make that first visit on your own. This gives you the opportunity to put the brakes on the sales pitch by letting them know that you will need to discuss it with your spouse. No compromise here, make sure you stick to it. The more conservative spouse should be the one to make the initial visit.
6. Consider a used car first. The initial depreciation on a new car can be as much as 20% the day you drive it off the lot.
7. Prearrange your financing with your local bank or credit union, not the dealership. If the dealer asks what payment you are looking for, and they will, you can tell them you’re writing a check. This takes some of the possible manipulation of the numbers out of the process and will give you a clearer picture of what exactly you are spending.
8. Once you have settled on a price, you will undoubtedly be walked to the finance and insurance department. Politely remind them that you will be writing a check and are not interested in any add-ons like rust proofing, window etching, paint preservatives and so on. Dealerships make a lot of their money on sales after the sale. An example is a protective coating on your new car’s upholstery. You can buy a can of scotch guard and do that yourself, or simply tell the kids they can’t eat or drink in your new car. Good luck with that one!