Archive for March 2011

Car Buying Tips Before You Hit the Lot

A car or truck is a huge purchase that usually requires a fair amount of consideration and research. Most people are not in a position to miss out on grabbing the best possible price for the vehicle that is going to meet their needs. Often a vehicle represents more of an investment than just a regular purchase. This means there may be additional factors that need to be examined.

Evaluate what you want and what you need. Auto makers have provided nothing short of a vast selection to choose from. This allows the consumer to really pick and choose what works for them. While it used to be as simple as truck versus car, now you can have the best of multiple worlds. By having a list of characteristics that they are looking for, the search will be much less overwhelming once buyers hit the lot.

Research and never take the salesperson’s word at face value. While it is true that car salespeople have developed a rough name, this isn’t always the case. However, because it is the buyer’s money at stake, they should be proactive. They should also not be afraid to expand their location to other areas. Some dealerships will fly buyers to them! Internet hunting is a great tool in the search for the perfect match.

Used cars should never be overlooked. Most models lose a huge percentage of their resale value just by being driven off the lot once they are no longer owned by the dealer. Since this is going to happen anyway, why not let someone else take the depreciation hit? This applies to almost every make and model. Although registered dealers of the particular make may be able to offer special discounts and offers direct from the manufacturer, this does not always mean they can give the best price. Other major dealerships should be checked out, and often the best sticker price can come from a local used car lot.

Dealers will almost always negotiate to get a car of their lot and in the driveway of a buyer. Vehicles sitting on their lot cost them money every day that they do not sell. This can be used to give the buyer an advantage.

Keeping in mind that the vehicle will most likely need to be sold or used as a trade-in one day should be kept in mind. Resale value is priority one for some people and does not matter to others. Buyers need to decide where they fit on this spectrum. Even though one can never be completely certain a vehicle will retain the value that is expected, a little research will give a good insight into recent trends.