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Posts Tagged ‘credit score’

Car-Buying Tips — 2 Must Do’s & 4 Things to Avoid

 

In all probability, most people you know own a car, and most of them could share their car-buying experience and advice with you.  Additionally, there’s almost unlimited amounts of buyer tips on the internet, but following is some interesting insight from an ex-dealership manager, including 2 must-do’s and 4 things to avoid:

 

MUST DO’S:

 

1)  Know what you want.  Check dealer sites for features and price quotes, then use online resources such a Edmunds.com to compare models based on what makes more sense to you and your lifestyle.  Things like capacity, gas mileage, safety rating, acceleration, mileage, emissions, etc., should all be considered in your decision.

 

2)  Do Your Pricing Research.  Whether you’re shopping for a new or used car, be sure to know the following information and have it with you when you go to a dealership:

 

A)  The list price of the car you want

B)  Your Credit Score

C)  The lowest financing rate you can get from the bank

D)  How long you will need the car (financing vs. lease)

E)  The trade-in value of your old car ( the Kelly Blue Book is a good resource – www.kbb.com)

 

 

AVOID:  

 

1) Don’t buy accessories or service plans from the dealership when signing your contract.  It will just add to the financing cost.

 

2) Don’t buy this year’s model toward the end of the year when the next year’s models are being released. Your car will immediately lose value.

 

3)  Shop toward the end of the month or quarter when dealers may be more willing to negotiate with you to hit their target sales.

 

4)  Never give a written commitment until you see all the numbers in the contract that you’ll sign.

 
The more informed you are about what you want, the less likely you’ll be to have buyer’s remorse. 

 

READ MORE: http://www.squiddo.com/car-buyer-tips