To this day I can still remember my first new car purchase. Boy, do I wish I had known some tips on buying a new car back then. Picture this…a young naive lady all of 21 years trying to go into a car dealership on her own and wrestle with the big boys. Sometimes I think those salesmen can smell fresh blood a mile away. The funny thing was that I just went to look. By the time I was finished, I was at the dealership for 8 hours, I traded in my old car, drove off the lot in a new Toyota pickup, and I’m sure just about paid the college tuition for the car salesman’s first born son. A memorable experience…definitely. Enjoyable? Not in the least.
See what I was missing was the knowledge about how the system works. And believe me, there IS a system. That’s why it is so important to get some “tips on buying a new car” before going through the hassle that typically comes to mind when we think of that experience. Before buying a new car, here are 3 tips you should know:
- Know your credit score – walk into a car dealership without knowing your credit score and the salesman just might start drooling right in front of you with dollar signs in his eyes. Then he will start making the pitch about getting you in at the best rate he can based on your rating. The problem is…your rating is probably better than they will lead you to believe and the points they offer you for financing should be better as well.
- Check out competitor prices before going to the dealership – this will help you to know if you are being offered the best price possible. Actually, you would be better off to find your new car and tell the dealer how much you are willing to pay. And you’ll make that determination based on the research you did in advance.
- DON’T GIVE THE DEALER YOUR LICENSE OR SOCIAL SECURITY CARD – This allows them to hold you hostage even though you may be ready to leave. Or, they may attempt to run a credit check while you are negotiating. They really don’t “need” that information but if you want to be accommodating you can take copies of your license with you and give that to them. Be sure to write on the copy “do not run credit check” and then get the copy before you leave.
These are just a few of the best tips on buying a new car that you need to know because buying a new car should be a fun and enjoyable experience.