As we approach the New Year, many people are busy setting goals and plans for 2018, giving them something to work towards. If your plan for 2018 is to buy a new car, then obviously you will want to make sure you are getting the absolute best deal possible.
We all know that new cars aren’t cheap. During the first quarter of 2017, the average price of a new car was $31,400, and early signs showed that prices would be increasing throughout the year. With that said, you want to be sure that you aren’t over-paying for a vehicle.
In order to help you out, we’ve put together a few helpful tips that will take you through the car searching and purchasing process. These tips will allow you to become an informed consumer who gets the best pricing out there.
Do Your Pricing Research in Advance
The worst mistake you can make is to walk into a new car lot and not have any idea what pricing should be. If you don’t know what a fair deal is, then how can you get the best pricing possible?
Instead, you’ll want to start the process by actually doing a little online research. Look into various makes and models that appeal to you and start to get a sense of their pricing.
Make Your Budget Clear from the Start
It’s also imperative that you set your budget in advance and then stick to it. Let the salesperson know what your budget is and make it clear that you aren’t willing to spend a penny more.
It can be pretty easy to be swayed once you see all those shiny new cars in front of you, which is why a budget is important.
Don’t Be Afraid to Negotiate
Once you’ve found a car you like, then it’s time to negotiate. For many people, this can be the hardest part of the process.
They just assume that whatever the sticker price is, is the price they need to pay. Well, you’d be surprised with just how far negotiating can go. If the salesperson isn’t willing to budge on price, ask for incentives instead.
Things such as a winter tire package, floor mats, a rust-proofing package, a security/alarm system, can all be negotiated.
Look at Your Options When It Comes to Financing
Unless you’ve managed to save up $31,000, chances are you’re going to need to finance the car. While you may assume your own bank or car dealership are the best options for you, this really limits you.
Instead, opt for a service like Apply and Buy that that features an online pre-approval process. From there, you are automatically matched to various lenders, allowing you to compare different rates.
Even saving a little bit off the interest rate works out in your favor, as it can end up saving hundreds if not thousands of dollars by the time you finish paying for the car.
The Car You Want at the Price You Are Comfortable With
These tips will help ensure that you find the car you want at a price you are comfortable paying. Are you planning to buy a new car in the future? Share your thoughts below.