Pictured above the author selling a 2016 Dodge Charger SE to Hector Tanajara (El Finito)
Today we live in an age of technology and fast information. Whatever we want to know is right at our fingertips. Gone are the days of settling for your next car from the lot down the street. But has car buying from a dealership truly changed? Should you buy your next car online? What are the advantages of buying from a new car dealership? Why should I buy from a used car dealer? Why can’t I get the vehicle I want at the price I want? Do I always need money down? Why do I even need a salesman?
Folks, the answers are not easy. But I will be straightforward and let you know how to buy a car today.
Car buying has changed in how much technology is in every car. Each brand new or slightly used vehicle is a wonder of innovative engineering. Many years of thought and labor has gone into the safe, reliable vehicles we drive today. When you buy a new car, more than likely you need to buy from a dealer. You can go online, but you have no idea how it drives. You might buy a vehicle you or your family cannot fit into. You think you are saving a lot of money, but in the end all cars are priced the same from the manufacturer according to how it is equipped. Each car sold in the united states MUST comes with a Monroney sticker. This sticker is required by law to keep you, the consumer informed. It is only required for a brand new vehicle. A dealer can be fined if there is no sticker. Every item included in the vehicle is on the sticker. It has to be sold as is from the manufacturer. New car dealers have special advantages by selling from their own inventory. You can get better deals in person at a dealer with excessive stock than going online. Dealers can and will discount cars if you show how serious you are to buy the vehicle. When you are in the market for a particular vehicle type, make sure the dealer has an excess inventory. Just to move stock you will get a great deal on the vehicle.
Buying vehicles from a used car lot can be a great experience. Excellent credit or bad credit, no credit or foreign credit can buy a used car and get a great deal. Each used car dealership is set up to sell in a particular fashion. Used cars from a big dealership that sells new cars can get you a great deal ONLY if you have great credit. Smaller car lots specialize in in house financing and second chance credit. If you got bad credit or no credit, it is best to start off from the bottom at a car lot that REPORTS to the credit bureaus. Make sure the car lot does as some won’t report it. Also used car lots are great if you are a foreigner without a US driver’s license (a foreign license works in the US to drive, but hard to buy a new car with it.) Often used car dealers employ good mechanics able to make a car shine by repairing it. It does a used car dealer no good if the car does not work and you finance it. The dealer needs your payments to stay in business so it behooves him to keep the car in good working order.
Going into a dealership and trying to barge in with unrealistic prices and bad attitudes get you nowhere. There is a process every person must follow to buy a car. Even online there is a process to buying the vehicle. Bad attitudes just make the shopping experience bad for everyone. Car Salesmen are people too. They will bend over backwards to work for you if you give them the chance. Talk to them and find out what makes them tick. Never take the car buying experience personal. If you finance a car, expect your past to come up. This is given. Car salesmen sell themselves first, then the machine and finally you agree on the price. This is a timeless formula and it applies to each and every experience. Find a car salesman that is knowledgeable about the product. You need them on your side to figure out what you need. Often we get what we want mixed up with what we need. A good car salesman is a consultant, someone you can have a beer with and talk about cars. Let them help you get the vehicle you need for your situation.
Now the often sticky/ sore point in any large transaction is the financing. There are many misconceptions out there. Listed bellows are a few myths dispelled for you savvy shoppers.
• You cannot trade in a vehicle you still owe on and expect the debt to disappear. Your old car will be paid off, but the debt will go to the new vehicle.
• Your credit will determine how much and how long you can finance a vehicle.
• Your credit will determine your down-payment. Expect to put money down on used vehicles. New vehicles and good credit can get you 0 down, but you lose the chance for a great interest rate.
• Banks are human and ran by people. Every deal is looked at by a person who uses guidelines to determine if you can buy the vehicle.
• What you make is what you will be budgeted for. If you only make 1000 a month, you cannot get into a car that has 500 dollar monthly payments on your own with bad or ok credit. Excellent credit will allow
Source: Car Buying in 2017