Buying a car is a large investment. For most people it is the second biggest investment next to buying a home. If you’re not prepared, the entire process can become overwhelming and difficult. Purchasing a new car should be a fun and exciting time, and we’re here to help you prepare for the process. There’s a lot that goes into buying a new car, from initial research to driving the car off the lot.
At My Next Car Buying Advocacy, we believe in providing exceptional service when helping you find your next car. By partnering with you on every step of the car buying process, we help you navigate the often complex process of finding and purchasing the right new car at the right price. In order to help, here’s what you should consider carefully when buying a new car.
1. Understand the Price
The price of your car is much more than the list price or sticker price. First and foremost, the price listed for a car is almost always negotiable. The price you see includes a profit margin for the dealership or seller. The seller pays a much lower price to add the car to their inventory, and if you understand the price point a car was purchased for by the dealer, you’ll be in a better position when it comes time to negotiate.
In addition to the purchase price, there are other costs involved when you own a car. You need to understand and incorporate into the total cost of purchase and ownership the cost of insurance, maintenance, upkeep, service and repairs. Budget your money appropriately by researching recurring costs for your vehicle before you finalise your purchase.
The bargain price upfront may also indicate a car that depreciates faster than other model cars and can result in a lower resale when it comes time to sell. It may also represent a run out model that is to be superceded or was built in a previous calendar year. If you intend to hold on to the car for a longer period of time then resale value may not over time be an issue.
2. Who You Buy From
Do diligent research before deciding who you’re going to buy from. Who you purchase a car come can make all the difference in a successful or unsuccessful purchasing experience. Not only can you research who has the best prices on the vehicle you’re interested in, but you should also be able to research who has the best customer service and who is easiest to work with.
Buying a car can be stressful, and you shouldn’t have to worry about an even more stressful experience by choosing a dealer that’s difficult to work with. In addition to a fair price, an easy and stress-free experience is the most important aspect to consider when buying a new car.
Reading online reviews of customer experiences when purchasing a car to determine which dealer to choose may be helpful or recommendations from friends and associates. The car ownership experience goes beyond purchase and includes ongoing maintenance and servicing at dealerships, certainly during the car’s warranty period. These reviews can also assist to provide useful information on the best dealers to choose that provide good after sales service especially when things might go wrong.
3. Financing Options
When you’ve researched prices and dealers, it’s time to research your financing options. Shop around with multiple lenders to get the best interest rate on your new car. Unless you’re taking advantage of a specific manufacturer’s offer, you can often find better interest rates by shopping around instead of relying on dealer financing offers. Sometimes what may appear to be a good or bargain purchase price from a dealer may be offset by a finance deal that turns out to be more expensive in the long run quickly evaporating perceived savings. While it may be more convenient to use the financing provided by a car dealer, it pays to shop around.
4. Deals and Discounts
Depending on when you look for your new car, dealers in the area may offer different deals and discounts on their inventory. Holidays are always a great time to buy, as well as near the end of the calendar and financial years.. Occasionally, you may see additional promotions to move out the previous year’s inventory, allowing buyers to take advantage of incredibly low prices. Some dealers offer additional extended factory warranties during slower sales periods or discount accessories. In addition to what you may see online, it never hurts to contact different dealers in the area to ask what they can do for you as a new buyer. You may be offered exclusive deals and discounts as an effort to earn your business.
My Next Car Buying Advocacy
Whether you’re buying your first new car or you’ve bought countless cars for you and your family over the years, My Next Car Buying Advocacy is here to help. These are just a few of the things that you should consider when you buy your next car. For more great tips on how to find the right new car at the right price, contact the team at My Next Car Buying Advocacy today.