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SAVING MONEY WHEN BUYING A CAR
Below are some great tips that will help you save
money when buying a car.
-- Buying a car is going to be cheaper than
leasing one. When the lease is done, you own nothing. On
the other hand, when you
car loan is done, you own you car.
-- When looking to buy a car, try and shop around on a rainy day. As a
result of the poor weather, dealerships will be less
busy. Therefore, you will likely get a better deal on a
car purchase.
-- Get a
copy of your credit report. Make sure there are no
errors or outdated info that can hurt the
auto loan interest rates offered. If there are errors
listed on your file, you can
learn how to remove them.
-- Try and leave a down payment on your new car pf at
least 20%. Also, try not to take out a car loan for more
than four years.
-- Are you trading in a car? If yes, make sure you know
what the trade in value of your car is before going into
the dealership.
-- If possible, visit several different dealers to try
and get the best deal on the car you are interested in.
Let it be known that you are in contact with several
dealers.
-- Research to find out if regional incentives are
available in your area for the car you are purchasing.
-- Never buy on impulse!
-- Always negotiate price, financing terms, and trade-in
value separately. Dealers will typically try and combine
some of these transactions together.
-- Come to an agreement with the dealer on the final sale
price of the vehicle you want. Then negotiate
financing, rebates and incentives.
-- Always be ready to walk out of the dealership if the
offered price is not what you want to pay.
--
Apply for pre-approval auto financing before you go
auto shopping. This will allow you to get the best auto
loan interest rates from the dealer if the dealer offers
financing. However, obtaining
financing from a dealer may not be the best idea.
-- If you can, sell your car privately. You will get more
money than if you were to trade it in.
-- Make bi-weekly payments for your car loan. This will
help you save money in interest.
-- Buy a car that is 1 - 2 years old. The price of the
same make and model of a new car will be significantly
more. A 1 - 2 year old will likely be almost identical to
the same car new. Here are some more
used car buying tips.
-- Look for a wholesale dealer where you can find a car
coming off of a lease. These types of cars are sold as
certified pre-owned vehicles.
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