"When was the last time you were told that you were crazy on your trade
in?" In other words no equity on your trade...
"A proven method on how to
buy your next vehicle, is to educate yourself with lots of information before making
that next big purchase" People are not always honest or up front with you,
especially when it comes to buying a new vehicle. So one of the best things you
can do is research, research and more research, before making that next
automobile purchase. Check with KBB dot com and NADA dot com for selling and
buying values. Also check on craigslist to see what other similar vehicles are
going for. That way you can have a foundation to start with. Also when looking
at you next vehicle purchase, make sure you look over the whole vehicle
thoroughly, and if you are not very familiar with what and where to look, then
bring someone who is. Or ask to bring it to a certified mechanic or
professional, and have them perform a complete inspection. Some of these places
may charge you a fee for a inspection, but the $50 or so can be well spent
insurance money to save yourself from spending thousands and finding out about a
Salespeople at dealerships and used car
lots usually always start out asking the most they think they can get for each
vehicle. And they do have a bottom dollar amount/figure that they are usually
willing to go down to as well. Knowing this ahead of time can save you money
right from the get go. You as well should have a pre-set number/price in your
head after doing your research on what you would like to pay. And a small margin
of what you may be willing to go up to. Try to make sure that you never give
more then the vehicle is valued at. Reason here is that when and if you decide
to sell the vehicle no one else is probably going to want to pay more then it is
worth, and if you have it for a bit, and add more mileage to it, that will only
bring the value down. Don't buy with emotions, just because you like the color
or model, or addition add ons, like shinny chrome wheels or custom sound system.
Lots of those extras you can also add later after you buy a vehicle. There
are many great deals out there on the Internet, you just have to look for them.
When the deal is getting closer to
starting the paperwork, be on the lookout for extras that can and usually do get
thrown in from lots of dealers. They can and often do say they'll give you x
amount of dollars for your trade-in (more then you'd expect),... But in reality
when the paperwork starts you find that the great trade in value you got on your
old car is matched up against a inflated new/used car price with all kind of
additional charges. So basically you're not getting more for your trade in,
because they have added more charges to the new purchase you're making. Best
thing here is to go in with your own money in hand or pre-certified loan at a
financial institution of your choice. Home equity loans are often a good option
here especially since, according to the loan professionals at
BB&T, "home equity loans and lines of credit
carry lower interest rates than typical auto loans and can be repaid over a
longer term." More importantly, getting a loan from a third-party puts all the
bartering power in your hands. So, if you do not like the deal they offer, or
they're not meeting you're maximum amount you want to spend, then leave and hunt
elsewhere. Half the time when people do just that, they are surprised to find
out that the dealership or car lot will call them back later that day or in a
day or two and ask them to come back. Stand your ground!
How did you feel the last time you bought a new car?
Now you can feel confident, safe and secure.
You're in control! Now, you hold the keys, for the first time.
Auto buying success is in the palm of your hands.
How did you really feel?
By using the wonderful world of the
Internet, and its vast selection of web sites and buying techniques, you can
save thousands and thousands of dollars. Be confident and educate yourself. Talk
to your friends and family. Find car enthusiasts through them and have them help
Getting a CarFax or other vehicle history report is usually always a great idea
as well. There are so many vehicles out there now-a-days that have flood or
rebuilt titles. If these vehicles were repaired correct by professional
certified repair persons, and passed all needed inspections, then the vehicle is
still only usually worth one half of its book value. And if you ever plan to
re-sell the vehicle most people do not want to buy with a title that says
salvage, flood, totaled etc. and almost all dealerships and car lots will not
even take them in on trades. (because they know they can not sell them to the
average consumer, and if they come across a buyer, they can't make any money.)
If you do have a trade in you're expecting
to use towards t he purchase of a new vehicle, make sure you look up its value.
If you've added extras items to your trade in, like chrome wheels or a better
sound system, or things of this nature. Do not expect to get more value then
what the actual value of the vehicle is. Best thing to do would be to take your
chrome wheels and awesome stereo out and off of the trade in and put back on the
stock stuff. Then resell the extras to offset your new purchase. Or save the
things and use on a future vehicle.