how does the car buying process work?
How does the car buying process work, when you buy a new car?
Buying a new car is slightly different than buying a used car in the sense that there are several dealerships which can sell the same vehicle.
1. Before you go shopping, educate yourself with the models you like as well as any current cash incentives and/or special interest rate. Edmunds.com or MSN.com have great information.
2. Once you narrow down the cars you like, visit each dealership to test drive the cars so you can decide which vehicle you prefer. Do not fill out any credit applications until you are ready to buy.
3. When you find the right vehicle, go back to the dealership and talk to the same sales associate you dealt with when test driving as they work off commission. Have your research ready and pick out the vehicle with the color and options you want. If they do not have it in stock, ask them if they can locate it at another dealership and do a dealer-trade.
4. If you have a trade, always negotiate it separate from the new car and hiding the fact that you have a trade in will not give you a better overall price because in the end, it's only worth as much as it's current trade value.
Good luck!
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Go to a dealer, pick out a car, arrange financing, pick up. It's that easy
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Take your money to the dealer and they sell you a car. After that the dealer will instruct you what to do.
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Well its complicated but basically….
You go around looking at what kind of car you want. Research on the internet and test drive some of the cars you are interested in.
Narrow it down to a few (maybe 5) that you want to choose from. Do more research on them, test drive them again if you need to, review specs/check them out in detail at the dealer.
Narrow it down to one car. Once you've done that, ask for the invoice price on that car. That's the price the dealer paid for it, negotiate from there. Try and get as good a deal as you can, and then make sure the dealer isn't screwing with you anywhere else. Ask about any options/features you want that aren't included if you want those in your deal. Once you have reached the price you want, take a day to think about it, make sure you can make payments, call insurance companies and ask how much insurance will be, and see reviews of it online to make sure people aren't having crazy problems with it. If all that is good to go, go to the dealer and get your deal and sign for it. Dealer will explain everything, then figure out your insurance and everything!
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1) Salesman sits you down to try to persuade you to buy the car. He makes you an offer.
dont forget that the dealer plates are only good for about a month so you will have to get the car registered yourself or I believe the dealers do it for you too.
2) You will say "no" because you know what the MSRP of the car you are looking for is already before you went to the dealership.
3) He will ask to hold on while he goes to ask his manager if he can give you better price and he will ask if you they can check your credit.
4) depending on your credit he will give you a better price, you decide if you want it or not.
5) you deicde you want it and sign a few forms. He tells you your car will be ready XXX.
6) you go call your insurance company about the new car and purchase a policy .
7) you go pick up your car and be on your merry way.
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first you research to pick the cars that you really want to drive. then, you locate the cars at dealerships or through classifieds. then, you test drive the cars to make sure you really like them. After that you negotiate. You should have in your head a fair price and a walkaway price (the price above which you simply will not pay).
Here's a link to a piece - really basic about how to buy a new car: http://vlane.com/blogs_article/1
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GO to your credit union, open a small savings account
and ask them to pre approve you for your car loan up to what they are willing to .
They will give you a much better deal, most offer there own warranties if the car is a program car or used (yet newer used less than 5 years old.) you will get a much better interest rate from your own bank than most of the dealers will give you especially if you have less than stellar credit.
They pre approved me for up to $16000, I went in to the dealer with my own financeing, and DO NOT TELL THEM that, until you agree on the price, remember just cause the car sign says $16000 doesnt mean you have to pay that.
Tell them you think you can only afford 15000. Ask them to come down on the price, if they say well we can come down to 15700 Then say well I don't want to go higher than 15200
Well We'll take 15500. Then agree and you just saved $500.00 or 2 car payments… yippee..
They will finance you at 29% where your credit union might for 8% with iffy credit..
That is a huge savings in payments.
Also may credit union allows me to pay $72.00 each week
I direct deposit $100.00 a week from my paycheck to my savings account and they take the 72.00 out of that each week, I never miss a payment it is much simplier than coming up with a 288.00 car payment in a lump sum….
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Buying a new car is slightly different than buying a used car in the sense that there are several dealerships which can sell the same vehicle.
1. Before you go shopping, educate yourself with the models you like as well as any current cash incentives and/or special interest rate. Edmunds.com or MSN.com have great information.
2. Once you narrow down the cars you like, visit each dealership to test drive the cars so you can decide which vehicle you prefer. Do not fill out any credit applications until you are ready to buy.
3. When you find the right vehicle, go back to the dealership and talk to the same sales associate you dealt with when test driving as they work off commission. Have your research ready and pick out the vehicle with the color and options you want. If they do not have it in stock, ask them if they can locate it at another dealership and do a dealer-trade.
4. If you have a trade, always negotiate it separate from the new car and hiding the fact that you have a trade in will not give you a better overall price because in the end, it's only worth as much as it's current trade value.
Good luck!
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