Good news! We’ve extended our Summer Auto Loan promotion until the end of September, which means you have a little more time to shop for the car you’ve been “hemming and hawing” over for months. Understanding what is happening in the market is important. In addition, deciding and sticking to one’s own requirements and budget is just as important as the understanding of prevailing trends in the market. Buying a car that is just right for you can be accomplished by researching the market and sticking to a budget.
In the process of a car deal, you might face a number of tactics presented by the seller that can be so compelling that you are willing to accept a poor deal. And guess what? It happens to the best of us! Here’s our steps for getting the best price on your next ride.
Use the internet wisely.
Researching the internet is a great place to begin to become aware of the potential cost of a vehicle. To avoid paying top dollar, especially if you’re buying used, explore various auto dealer and manufacturer websites can to give you an edge when negotiating the purchase price at the dealership. If you can cite examples and show them that you’re not going to buy the first thing you come across you’ll stand a better chance at bargaining. Being an informed buyer is the best way to obtain the best deal for the best price.
It’s how you pay.
Whether you are buying through a dealership or taking out a bank loan to buy a car, both play an important role in determining how much you will pay. A wise buyer can save the maximum amount of money with a cash payment. But, the reality is that many people don’t have the kind of cash laying around that they need to purchase something like a car. That’s where financing comes into play.
While financing a car loan through a dealership might sound hassle-free, the reality is that there may be additional finance charges you could avoid by financing elsewhere. If you start the buying process by visiting your banker first to get an idea of the amount of loan you’ll be approved for, you stand a much better chance at walking into a dealership and negotiating a better deal.
Savviness can save.
Ask yourself the following questions: Do you already have a car? Do you want a bigger one? Do you travel often? Do you intend to change cars in the coming years?
When it comes to the purchase of a new vehicle, these questions can help you create a shortlist of a few cars according to your requirements. It would be a mistake to start the car purchasing process without having a clear-cut vision of what you want to buy to avoid paying for features you don’t really need. Consider other things that can help save money in the long run such as the vehicle’s average fuel mileage and the age of the vehicle, which can affect the insurance coverage amount. Property and sales tax can also be a surprise after you’ve purchased a vehicle, so make certain you know what fees the county is going to require you to pay when you show up to register the car. Sales tax is only paid once, but if you purchased your vehicle in a county other than the one you live, you might find that you owe more at the registration desk. Property tax is something you’ll pay every year, so if you’re not prepared to pay hundreds of dollars in property taxes each year, you might consider an older car, or one with a lower initial purchase amount.
While taking all the necessary steps for an auto purchase, be conscious of your mood and your wishes as they can impact your car-buying experience. Consider the seller’s offer. Be polite when negotiating. Being well-informed can help avoid problems from the get-go.
Stop into your local Central National Bank to ask about our Summer Auto Loan special and to get pre-qualified for an auto loan or learn more about Central National Bank auto loans at https://centralnational.com/personal/autolending.asp. It’s the best first-step into the buying process if you need to finance your purchase.