Friday, July 3, 2015

Ten Mistakes People Make at the Car Dealership

-Driving a brand-new car can be one of the great experiences of life. Walking into a dealership and buying one, on the other hand, ranks up there with public speaking and visits to the dentist atop most people’s lists of anxiety-inducing prospects. But it’s not really that scary if you’re prepared and knowledgeable. Then you can stride into that dealership informed, confident and in charge of the whole process. We'll help give you that confidence by steering you clear of these 10 mistakes people often make when they set out to buy a new car.-Shopping for a car isn’t like looking for a new pair of shoes or even a smartphone. Rookie car buyers enter the dealership with only vague notions that they need a new set of wheels and how much they can pay per month. They’re ripe marks for a sales pitch that sees many people driving away in a new car from the first dealership they visit. The showroom floor isn’t the place to start your quest for a new car. Smart shoppers start with hours of on-line research at sites like Car and Driver’s Buyer’s Guide where you can learn what’s available, compare costs and features, and read expert reviews and road tests and estimate financing costs. Most dealerships have internet sales departments that allow cross-shopping to compare what’s available and even negotiate prices before ever setting foot in their parking lot.-One in six car-buyers never drove their new car before purchase, according to DME Automotive research. Another third took a cursory 10-minute spin around the block in one car. Not smart. As much as can be learned on-line, only a drive can reveal whether a vehicle suits personal preferences. Before settling on a single car as “the one,” also sample competitors. If you’ve been driving an old car for a long while, any new one will feel great. Visit several dealers and drive four to seven cars to get a true basis for comparison. Some dealers may try to limit your opportunity. If so, walk away. If not, make the test drive thorough and be sure to test the one you intend to buy or one with similar equipment. Again, cars aren’t shoes: It’s super-expensive to return a car that turns out to be a bad fit.-Unless you’re at a Scion store, where everyone pays a no-dickering sticker price, you’re going to have to agree with the dealer on a transaction price. The Manufacturer Suggested Retail Price (MSRP) displayed on the window sticker is not a good starting point for that discussion. It may seem like a great deal if the sales rep offers to “knock $3000 off the sticker,” but maybe not. Numerous services on-line purport to reveal the “dealer invoice” that the dealer actually pays the manufacturer; it’s better to negotiate up from there than down from MSRP. However, it’s not unheard of to get a price that’s even below the supposed dealer invoice. Why? Because there are other elements of the transaction—dealers also get a “holdback allowance” from the carmaker, and may get incentives on a slow-selling model (paid to the dealer only, aside from any rebate offered the consumer).-car loan financing best rates-Lowest car payments anywhere!-Best trade in value on new car-Ford dealer prices-Forty percent of buyers have visited only a single dealership, says DME Automotive. Many of those will be loyalists who’ve found a dealer and brand they trust and they’re happy to keep going back. Even they, however, would benefit from having a look around, if only to make sure that their trusted dealer isn’t taking advantage of the relationship. Those who’ve decided on a make and model would do well look at the internet sales departments on the sites of several nearby stores to see if there’s a better price on the desired car. If so, that’s at least a negotiating point for dealing with the nearer or more familiar outlet for that brand.-Many a buyer has struck a great deal that fits a carefully considered monthly budget only to find that new ride costs a lot more to insure than anticipated. Especially if you haven’t been driving new for some time, remember that the loan terms will require full-collision coverage to protect the lender. Check the rate on the cars you’re shopping with your insurer and competitors before going to dealerships. Perhaps you can save by choosing the smaller engine or a lower trim level or a competitive car costs less to insure.-say no to add ons at close--

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