Information: The One Thing You Need When Buying A Car

On Friday, January 26th, 2018

It’s the same story for any purchase. The more informed you are about the market, the better your chances of walking away with a better deal. However, few things are quite as expensive, or as complicated financially, as a car. So, there’s a lot of information you should be willing to learn before you sign your name on any dotted lines.

Pic by ThiloBecker

Know the facts

Don’t buy a car as soon as you fall in love with it, that’s rule number one. Instead of buying it on the first day, go back home and research it. Find out, first of all, if it has everything you need in a car. Consider your priorities, whether they be safety, reliability, size, fuel consumptions, etc. Use that time to look across the market at any dealers that might be offering the same car at a lower price, too.

Know your financing options

Don’t let a dealer talk you into financing your car at the dealership. It might sound very convenient at the time, but it is almost always going to end up costing you more than installment loans. Instead, find out what your credit situation is and what loans you’re applicable for from a range of sources. Think about bulking up the size of your down-payment so that repaying your loan becomes a lot more affordable, too.

Know the tricks of the trade

Beyond trying to get you into a disadvantage financing deal and selling a car before you’re truly informed on it, the average car salesperson will play a lot of tricks to try and get you not only to buy the car but also extras you don’t need. Hear out what the extras they offer are when you decide on a car but do your research on them and consider thoroughly whether you really need them or not. Remember, you have to be willing to walk away from a deal if the dealer isn’t budging on price. You can do your research, find out the prices across the market, and simply come back the next day if you can’t find a better deal.

Know its condition

Be thorough when test driving any car, new or used. But if it’s used, ensure that you get the green-light to take it to a trusted mechanic, so you can get a much better idea of its condition. A car might feel perfectly fine for you, but if you’re not a professional, you’re probably not in the best position to judge.

Know the history

You don’t have to be a professional in order to learn about a vehicle’s past, however. Vehicle history reports can be read by anyone using the vehicle identification number. It can get you more informed on its condition, showing how many past owners it has had and how many miles it has driven in different time periods. But it can also highlight some serious red flags, like whether a car is marked to be repossessed, if it’s been written off due to past accidents, or if it has been stolen.

Know the market, know the specific car you want, know your financial situation, and know what extra costs a salesman is going to try to wrangle you into. That way, you can ensure you’re getting the best possible value without any nasty surprises.

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