Tips for Buying the Best Car
If you are well-organized, buying a new or used car from a dealership or private seller can be a very smooth and efficient process that saves you plenty of time, money and headache, as well as significantly reducing your chance of buyer's remorse. If you aren't well-organized, then North Dakota Car Loans is here to help smooth the process for you. Following are six general tips that can be followed - in order, to help ensure that you have the best car buying experience possible.
- Get preapproved - The first step in an efficient car buying experience should be getting preapproved for a car loan from a trusted and respected lender. You can do that right here on NDCarLoans.com and receive several quotes to compare side-by-side in order to choose the loan that is best for you. Once you have been preapproved for a loan, you can then shop for your vehicle in complete confidence in your ability to afford it.
- Shop and research several cars - Using the Internet as a tool or by talking to friends and family, you should thoroughly research all of the different cars you are interested in. Learn about their mileage, their handling, and finding different problems reported by prior owners. Narrow your choice down to two or three cars first, and then, while staying with your loan preapproval budget, shop and decide on the various options for the car that you want. Customize it to your heart's content. Do you want that upgraded stereo, or would you prefer the safety and stability package? Know your final vehicles of choice inside and out, from the color, to the number and location of airbags, to the gas mileage.
- Research your dealerships - Now that you have two or three perfect cars in mind, find dealerships around you whether you live in Bismarck, Williston or Grand Forks you should be able to find at least three dealers who offer the vehicles you are interested in. Talk to friends and families and ask them about their experiences in dealing with auto dealers and seek recommendations.
If you prefer, many auto manufacturers will allow you to buy their vehicles factory direct through the Internet. You can customize your car online with all the features you want and then place an order and have the car delivered to the local dealership for you to pick up, or in some cases, they will even drive the car straight to your home for you. Keep in mind that though this may be the simplest option, it also leaves little or no room for price negotiations. You also will not convince a website to 'throw in' a year's worth of free car washes or a month of free gas. - Visit at least two dealerships - Don't lock yourself into one dealership option for purchasing your car - that may lead to certain disaster in getting the car you want at the price you want. Even if it means something of a drive, it will be well worth your while to visit one dealership with no intention of buying, and then visit the second dealership, and tell them you've been 'shopping around' at other dealers. Watch the salesperson go into overdrive to keep you from leaving.
- Negotiate wisely - Once you've found the dealership you like and they have exactly the car you want, it's time to start negotiating the price. While you can tell them early on that you have been preapproved for a loan (which will dismay them somewhat), if you can keep the exact amount you've been preapproved for a secret, that's probably the best way to go. Otherwise the salesperson will make it their goal to see to it that you spend every cent of that preapproval amount if they can, including setting the price of the car and its features to that level. Here's an example of how that conversation might work:
Salesperson: So, how were you planning to pay for this today?
You: I've already bee preapproved by a lender for a loan.
Salesperson: Really? That's great! How much are you approved for?
You: More than enough to buy the car I've researched and the features I want.
The salesperson should take the hint from there and let the matter go. If they don't, just keep letting them know that you have 'enough' and leave it at that. - Don't get talked into extras - This is often where salespeople can trip up even the most dedicated car shopper - by adding on extras and features - usually at very high prices - to the car and just rolling the price into the loan for you as a 'favor'. Don't fall for this. You've done your research thoroughly and know exactly what you want. Get it and get out, preferably with some extra savings from not having spent everything you were pre-approved for.
