Car Buying Without Fear

Car Buying Without Fear

Apart from buying a house, buying a car is one of the most significant purchases you will make in your life. You shouldn’t take this task lightly and should do everything you can to make sure it goes well. Take the fear out of buying a car with these tips. 

Total Cost Vs. Monthly Payments

When you buy a car, the salesperson will put a lot of emphasis on your monthly payment. This is important to keep in mind because it is the number you will work into your budget for paying the bills. This is not the only number you need to focus on when buying a car. You also need to make sure you are fully aware of how much the cost of the vehicle is going to be and how long the loan with last to equal that monthly payment. Having a car loan stretched out over 60 months is going to cause you to pay a lot more in interest than if you were to get a loan for 48 months. 

Do Your Research

Most people do not know a lot about cars, and that means they can be taken advantage of when buying a car. You want to make sure you do your research before going to a dealership. Make a list of what you need in a vehicle and the things that would be nice to have in a car. Take this list with you, so you don’t forget any important details. You will also want to know any possible makes and models of cars that fit this description. Research online before you go to understand what cars like the one you like typically cost, so you can know before haggling what is appropriate. You can do a lot of this research online at the Stephen James Group

Negotiate with Confidence

If you have done your research, then you should be able to negotiate with confidence. Being confident will help you to be taken seriously. If you know what the car should cost, then start negotiating with a much lower number. They will probably counter with a number that is too high, but if you start low, then you will hopefully be able to end up about where you should be. 

Insurance Costs

When you budget for your car purchase, you will want to take into consideration what insurance is going to cost for the car. This cost might be much different than with your current vehicle, so make sure to run all the numbers and get a quote before buying. Negotiating smoothly for the purchase of your car only to find out the insurance is too high will be very disappointing. 

Trade-ins

If you have a car you are trading in, keep that information until last. It would help if you looked up your car’s value online to have an idea of what to expect. A salesperson is going to try to use that information against you to keep the cost of the vehicle high. If they don’t know about the trade-in until the negotiating is done, then you will be able to save even more.

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