5 Steps to Buying a New Car

5 Steps to Buying a New Car

1. Do Your Homework
Are you thinking of buying a new car? Have the car already pick-out? Either way, before walking in the dealership you need to do your homework. One of the best resources for buying any new vehicle is Autos.com or Edmunds.com. They can give you a quote on any new make/model, whether it’s a car, Truck, SUV or if it runs on water. They will tell you want you should pay, no matter what the dealership says. And yes, even if they give you the famous quote “We're not making any money on THIS DEAL”.Finally, I always tell people, know exactly what you want before you get to the dealership. I'll explain why later.

2. Check Your Funds
First thing you should is ask yourself “What can I afford?” 15,000? 20,000? 40,000? Whatever the amount is, make sure you stick to that price, or monthly payment. Yes, I said monthly payment, that means do a little math homework. Go to Carsdirect.com and use their finance calculator. Here, you can factor in different scenarios, such as your down payment, credit score, length of the loan, sales tax, etc. Next, we could talk about trading in your vehicle. I highly recommend not trading in your vehicle, because you will always get far less, than if you sold it to a private individual. I know it takes longer, and might be pain for some people, but now there are so many resources out there that make this process very painless, like this site for example. If you are still persistent with trading in your car, then go to carsdirect.com, find your trade-in value and don’t accept anything less for the dealership. Finally, while you’re at their website, price out your next car with the features and options you want. If everything looks good, print out your quote and bring it with to the dealership.

3. Online Quote
If you are type who likes to spend the least amount of time the dealership, like I do then. Now, you can get a new car price quote , from you local dealer right here online @ Carsdirect.com. This only takes a few minutes (instead of hours at the dealership) and click, you have your price quote. Now, your next step is the test drive. Sorry, but you will have to leave your computer chair for this one.

4. The Test Drive
Unfortunately, no matter how much research you do online on a particular car, it will never be as useful than getting behind the wheel, crankin up the car (yes, I’m southern) and holing butt down the highway (that’s only if the salesman is not in the back seat, of course). Next, take someone with who knows about the car and can provide some input, or you always have the option to rent the same car for a day or two, and spend some quality time examining it. I know there is always an Enterprise Rent-A-Car within fifteen minutes. Either way, test driving the vehicle is very important, plus I think it's best part.

5. Time to Negotiate
Now that your test drive is over, it’s time to negotiate. First, show the salesman your online price quote (if you have not already). Hopefully, you have incorporated everything into this quote, all the way down to the type of wheels. Now, it is time to sign on the dotted line. If you feel that their might still be some wiggle room, don’t hesitate to negotiate more. I know I would, because I don’t want a good deal I want a great deal! No matter what price you say, the worst the salesman will say is “let me go talk to my manager”. Then he will come back with either a yes or no answer. You have nothing to loose, right? Next, if you have a trade-in, or down payment. Now is the time to let them know. DO NOT TELL THEM BEFORE YOU FINALIZE THE PRICE OF THE CAR! You might get some resistance, but stick to your guns and everything will work out fine. Finally, make sure you already know where you are getting your financing. I would recommend shopping around for the best rate. Here are a few recommendations.

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