For a first time car buyer the process can be both exciting and a bit overwhelming. The key to getting a good deal is to put aside your emotions and focus on the hard realities of the deal. After all, buying a car is the second-largest financial commitment - after purchasing a home - most people will make. The good news is there are many tools available to arm you with the information and strategy you need to arrive at the best deal.
Research your options
Talk to friends who have recently bought cars and read magazines describing the types and prices of available cars. Use the internet to search for typical selling prices and side-by-side comparison tools - available on Autoblog - to give you a feel for the type of price you should be shooting for.
Set up your financing
Get competitive quotes
Negotiate your price and terms
Buying a car is a multi-step process. If you're financing, avoid the temptation to focus solely on a low monthly payment. While attractive, a dealer can hide a lot of extra profit in a low monthly payment by adding a high interest rate loan or a longer financing period, for example. At the end of the day, you want to negotiate the lowest overall cost for your car and not just the lowest monthly payment.
via Autoblog January 25, 2017 at 07:49AM