When you set out to buy a car, there is one obvious end: either of you will be happier. It might be you or the salesman. Nonetheless, one would be very excited for a job well-done. It wouldn’t be a bad idea after all if you end up as the less happy party but you go home with a very good car. You might even think you have struck the better deal until you start using the car. As easy as it might look, buying a car goes beyond paying and walking away with it. There are certain knowledge you need to have before approaching the dealership.
Not to forget, one of the most desirable qualities of a good salesman is to convince you into dropping good deal of money for less. In turn, the company makes huge profit off you. In order to avoid this story that touches the heart, check out some of the must-know thumb rules before setting out to buy a car.
Researching about the product
The #1 thumb rule you must know is doing little research of the car you intend to buy. There are many auto websites that give you that opportunity to read the reviews and sometimes comparison between the product you intend to buy and other similar models in the segment. Whether you are buying the car new or used, you need to check out the strengths and weaknesses of such car. Considering this, you need to make enquiry about the resale value of this car. This will give you that bargaining power to strike out the best deal.
Do not stick to one dealership
It isn’t a bad idea if you are loyal to a particular auto dealership, but it is a better idea if you take a look around other dealerships and do a comparison on their prices and condition of products. Checking out many dealerships will also give you the chance to take them to the limit of the last price they are willing to give out that car out for. You do not necessarily need to limit yourself to your city. You can a trip to other places to check out their showrooms, dealerships and make the best buying decision possible.
Buying car online
Now, this might seem tricky but has proven to one of the most effective methods of buying cars all over the world. Buying car online will save you the stress of checking out many dealerships as well as avoiding being sugarcoated by skillful salesmen. It is also easier to compare prices online and read through reviews of those that might have used or still driving the same model. To get to the tricky part we mentioned earlier, you might fall victim of scam while buying car online. This is why it is important you do face to face transaction and inspection before you finalize the deal. My advice on this is to shop online but take it out of your time by scheduling a meeting between you and the seller to avoid falling victim of swindlers. Also, buying online especially through unrecognized portals might turn out to be a nightmare for you.
Do not overspend
I keep saying this that buying a car requires good planning and discipline. Aside doing research on the car you want to buy, you also need will-power to stick to that budget you already set. More often than none, sellers or dealerships might convince you into probably a better alternative, which would scoop more money from your pocket. Stick to what you can afford and end the deal there. While it is a good idea to take loan at times when procuring a car, you shouldn’t take loan that would overwhelm your financial return. Not to forget, buying a car is one thing. You will also need to maintain it from time to time. That would also require financial commitment from you.
Inspect the brand new and used cars
Many people especially the middle income earners would most likely wave off the idea of buying brand new cars. Sometimes in the long run, it pays a great deal to buy the brand new car. It is a myth thinking every brand new car is out of your financial league. Payment does not need to be instant, as it could be spread onto a long term loan or payment structure. I do believe that finding a used car in good condition is also another way to go about it.
Do not reveal your financial prowess or expectancy
Always stay at the top of your game. Do not tell the dealership what you plan on spending. He or she may work on this to your disadvantage. Be patient and show no enthusiasm about any particular model. This would put the salesman at your mercy, in deciding what is best for you.
Always consider your insurance plan
It is recommended to take your insurance plan into consideration before walking into any dealership or showroom. While some cars will incur big insurance fee on you, some will be in line with your financial capability. The key lesson here is never to run into debt. A lot of people have ended up selling their cars when they couldn’t cope with the kind of fee they were asked to pay.
Make sure you test-drive the car
This is the part where we will advise you to go with your trusted auto mechanic. Do not be forced into believing that nothing is wrong with the car. Surprisingly, this also applies to those who would be buying their cars brand new. Make sure your mechanic inspects the car very well. After inspection, take the car for a short test-drive. Since it might end up in your garage, it is fair enough for you to experience what you are paying for.
Collect all documents
Failure to collect important car documents at the point of purchase might put you into serious trouble. A lot of people have ended up buying stolen vehicles just because they bought on impulse. Be patient enough to collect all requisite documents and check for their authenticity.
The important factors you should consider when buying a car include the long term value, resale value, comfort, safety and how it suits your daily road routine.