Be Good To Your Money Bulletin http://ezezine.com
GETTING THE BEST DEAL WHEN BUYING A CAR
With income tax returns coming in the mail, many people car considering
buying a car. In chapter 3 of my book BE GOOD TO YOUR MONEY, I give
tips on saving money when buying a car. Here are a few of those tips:
SHOP MONEY FIRST-- Many people make the mistake of shopping for a car,
then worrying about how to pay for it. Instead, check into your
financing options before you get near a dealership. You have many
options -- from credit unions to banks. Offers can vary considerably.
Even a seemingly small difference in the interest rate being offered
can cost (or save) you a lot of money over the life of a new car loan.
And just as you'd haggle with the salesman over the price of the car
itself, you can and should try to negotiate the best deal possible on
your financing. Make them earn your business; don't just give it to
them on a silver platter. If GMAC is offering 1.9 percent financing,
you may have to forego an additional rebate to get it. Get the
specifics and ask your bank/credit union if they can do better.
KNOW THE "TRUE" COST OF WHAT YOU ARE BUYING -- There is more to the
cost of a new car than the price you pay for the car itself. Things
like insurance, annual fuel costs and so on should always be factored
into your purchasing decision -- before you commit to buying anything.
People sometimes get into trouble by focusing on the car payment alone
-- forgetting about the peripheral costs that come with the purchase of
any new car or truck.
CHECK INTO THE AVAILABLE DEALS -- Year-end closeouts, cash back,
special financing, etc. Each automaker publishes their current offers
on their official web page (for example, General Motors' web site is
www.gm.com). These offers are constantly changing, vary from region to
region -- and model to model -- so it's important to get the latest,
most up-to-date info. Compare what's being offered by one automaker
against the deals (or lack thereof) being offered by a competitor. A
little digging could save you thousands before you even get to the
dealer's lot. Also pay attention to the market. Slow-selling models (or
final year models of vehicles about to be replaced or updated) are
typically the ones dealers are most anxious to get rid of -- which
means you can usually negotiate a great deal for yourself. On the flip
side, avoid shopping for the latest, most trendy and popular models
until the buzz has died down a little -- unless you don't mind paying
every penny of full MSRP sticker, plus a little extra.
NEVER FOCUS ON THE MONTHLY PAYMENT -- "How much can you afford per
month?" is a deceptive shuck and jive used by some car salesmen to get
you to stop thinking about the total price of the car by focusing your
attention on what appear to be "low" monthly payments. But ultimately,
the only figure that matters is the bottom line cost of the car itself.
Haggle over THAT figure -- and the monthly payments will take care of
themselves.
WORRY ABOUT YOUR TRADE-IN LATER -- You're buying a new car; haggling
over your trade can be distracting. With the focus on how much you'll
be getting for your old car, it's easy to lose sight of how much you're
paying for the new one. Haggling over one car is confusing enough;
adding another to the mix is never a good idea. Estimate the value of
your trade-in online using a service such as KBB. This will give you a
ballpark number to free your mind while you shop for a new car. The
best thing to do is negotiate your best deal on the new car -- and once
that's done, bring up the matter of your trade-in.
So, do you homework before the new car smell gets you!
www.LisaFrye.com
L L Q Publishing Company
631 N. Stephanie Street
Suite 311
Henderson, NV 89011
(866) 750-0188