A great many potential buyers start their search for a new or used car toward the end of the calendar year, knowing that this is when some of the best deals are obtainable. When you do start searching, keep these car-buying tips in mind.
Check the history report
If you are in the market for a used vehicle, make sure to check its history report, so you can be aware of any accidents which may have occurred, or any hidden damage which may have occurred such as flooding. It's also good idea to have a certified mechanic inspect any vehicle you're thinking about purchasing.
Get several quotes
There are a number of online services which can provide you with quotes on cars from local dealerships, and these are more likely to include any discounts or incentives which are available. You will often be able to get a better price this way than you would if you accepted the sale price quoted in a showroom.
Shop online
Save yourself the time and trouble of dashing around to a number of local dealerships, and
just start doing your shopping online. This should be good enough for you to narrow down the possibilities, and when you find something that you really like, that would be the time to go to the dealership to work out the details.
Be flexible
It stands to reason that the most popular cars will have less availability than those that aren't selling as well. If you're not set on having the latest, most fashionable vehicle, you’ll have a better chance of cashing in on a real bargain. To get the lowest price on a new car, you'll generally have to buy last year's model, as opposed to the newest vehicles being made available.
Shop early
In the weeks leading up to the end of the year, there's a kind of lull in sales for most dealerships, and that's when you should be most active in your auto search. When things start picking up between Christmas and New Year's, salespeople won't have as much time to devote to you, and you may not be able to arrange a test drive.
Understand dealer motivation
Most dealers are under pressure to achieve sales targets, and you can use this information to your advantage. That makes the last few days of any month a good time to cash in on a great deal, because those will be the last few days available for a salesperson to hit their quota.
Get pre-approved
Having a pre-approved loan in place will give you lots more leverage when you talk to a dealership’s finance manager. That means if they really want to finance your vehicle, they'll have to do better than the interest rate which has been offered by your bank or credit union.
Check out warranties
Sometime during the sales process, you'll probably be presented with an option to buy an extended auto warranty. If you do some comparison shopping ahead of time, you’ll be able to avoid overpaying on this kind of warranty, and you can get the kind of coverage you need at an affordable rate.
Don't forget the test drive
You can avoid making a big mistake by test driving any vehicle before purchasing it. If a salesperson recommends that you test drive another vehicle as well, you should be open to that possibility. You just might get a better deal on the vehicle offered by the salesperson.
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