Some of us like shopping for a new car. The other 99 percent of us, not so much. Bring along some confidence on your next trip to the car lot. A little bit of knowledge can save a lot of money.
TO GET STARTED
Know your budget, your credit score and what is important to you in a car before you walk into a dealership. This will help you keep from getting sidetracked; you don’t want to come home with a vehicle that’s outside your budget, pay an inflated interest rate or get a car that is not what you wanted.
Always buy or lease based on the sale price of the vehicle. You may spend more money if you make a decision because the monthly payment seems low. Run the numbers and compare car prices. If the payments end up being too high for your budget, it’s the wrong car for you.
AND REMEMBER …
Take a friend along so that you don’t get caught up in the excitement of a deal that is outside of your comfort zone. Don’t make financial decisions under the influence of emotion.
Don’t put a lot of money down on a lease. First payment and plates is all you should write a check for. Keep your money liquid for important expenses. If you have a trade-in, put it toward the purchase of the car. Leasing? Take the check and bank it.
Always have a used car inspected by your mechanic. It can save you time and money, even if the dealership has certified that the car is mechanically sound.
Take the car home overnight. A 20-minute test drive won’t tell you how comfortable you are with the size, feel and maneuverability of the car.
When you go into the finance office to sign papers, remember: You are buying or leasing a vehicle. Don’t be pressured into buying extras you do not need.
GET EVERYTHING IN WRITING
Handshakes and conversations aren’t binding. And a good deal is relative. Sometimes, service and trust trumps price. When in doubt about a vehicle, wait. There always will be another “good deal,” and they will always make more cars.
