Here are some useful tips on buying a new or used car:Buying A New Car:
A new car is second only to a home as the most expensive purchase many consumers make. Thats why its important to know how to make a smart deal. Think about what car model and options you want and how much you are willing to spend. Do some research. You will be less likely to feel pressured into making a hasty or expensive decision at the showroom and more likely to get a better deal.
Consider these suggestions:1) Check publications at a library or bookshop, or on the Internet that discuss new car features and prices. These may provide information on the dealers costs for specific models and options.
2) Shop around to get the best possible price by comparing models and prices in ads and at dealer showrooms. You also may want to contact car-buying services and broker-buying services to make comparisons.
3) Plan to negotiate on price. Dealers may be willing to bargain on their profit margin. Usually, this is the difference between the manufacturers suggested retail price (MSRP) and the invoice price. Because the price is a factor in the dealers calculations regardless of whether you pay cash or finance your car and also affects your monthly payments negotiating the price can save you money.
4) Consider ordering your new car if you dont see what you want on the dealers lot. This may involve a delay, but cars on the lot may have options you dont want and that can raise the price. However, dealers often want to sell their current inventory quickly, so you may be able to negotiate a good deal if an in-stock car meets your needs.
Trading in Your Old Car:Discuss the possibility of a trade-in only after you have negotiated the best possible price for your new car and after you have researched the value of your old car. Check the library for reference books or magazines that can tell you how much it is worth. This information may help you get a better price from the dealer. Though it may take longer to sell your car yourself, you generally will get more money than if you trade it in.
Buying A Used Car:1) Before you start shopping for a used car, do some homework. It may save you serious money. Consider driving habits, what the car will be used for, and your budget.
2) Research models, options, costs, repair records, safety tests, and mileage through libraries, book stores, and web sites.
3) Before you buy a used car whether from a dealer or an individual, examine the car using an inspection checklist. You can find checklists in magazines and books and on Internet sites that deal with used cars.
4) Test drive the car under varied road conditions on hills, highways, and in stop-and-go-traffic.
5) Ask for the cars maintenance record from the owner, dealer, or repair shop.
6) Hire a mechanic to inspect the car.
An Extra Tip for Paying for the car:Most people do not realize that they have capital locked up in their property which could be used for buying that special car of their dreams. Release the capital tied up in your home with a home owner loan. The loan can be used for any purpose, and is available to anyone who owns their home. Home loans can be used for any purpose such as, new car, home improvements, pay of store card or credit card debt and debt consolidation.
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