January 16, 2018

The 5 Commandments when Buying an Automobile with Vehicle Financing

buying a new car with vehicle finance is an exciting but challenging activity. it is exciting in the sense that you have been anticipating this event for a long time now. maybe you have looked up the car in the showroom a hundred times. it is challenging because there are a lot of things involved in buying a car n financing that you need to know. here are some pointers to get you up to speed with the dvehicle financeetails.

1)      do your homework- you have to know the features and benefits of the car that you are buying. do not just go for anything that looks flashy in the outside but doesn’t offer the mechanical safety of a reliable car. safety and reliability are important in buying a car. you might end up with a lemon if you do not do your homework.

2)      think it over slowly- you command the best time for yourself. no one should rush you into making a decision. go over what you need with the sales person and don’t let him hard sell you into anything you are not yet ready to buy. there are more dealers selling cars out there so don’t make haste in your decision.

3)      love at first sight doesn’t work well- do not buy the first time you see the car that you want at a dealership. the sales person will see the obvious buying signals from you and may push you into making a decision that you might regret. have time to shop around first and compare prices and terms with other dealers. once you have shopped around, you may go back to the best dealership with the best rates. just don’t show your hand right away since everything can be negotiated. you get the best terms by acting as if you have a lot of other options.

4)      if there is nothing in writing, no money honey- you should be good in the bargaining table. the sales person will drive hard to make a sale and for you to give a deposit. make sure that your walk away option is still intact until things are in writing. this is true for agreements on price and taking the car home with you overnight. if you can test drive the car with the salesman on the spot, that is better instead of bringing the car home with you. you may become attached to car before buyer’s remorse sets in.

5)      do not be bullied or pressured into anything- some sales people are pressure sellers since they receive a commission out of every sale. if you think that your interests are not being protected and you are uncomfortable with the transaction, you can walk away from the negotiation. that is your right as a buyer.

be guided by these simple commandments to follow. there are definitely more tips on finances and negotiating with the dealers but this is a good start. just remember that you are the buyer and the money is in your hands. act like you are a winner and you will be rewarded with a winning deal.

For more information, visit Car Loan Tips.  Or you could also look at Pros of Vehicle Finance

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