Even with all the amazing information at our finger tips on the internet, people still show up blindly at a dealership to buy a car. No research. No clue. Luckily, my member's have me to look after them. Some are not so lucky. Here are two crucial things you need to do before setting foot on a dealership.
First, you need to know how much your car is worth is you are planning on trading it in. The salesman who pretends to be your friend will give you as little as possible. This month, I had a member try and trade in his car. NADA trade clean trade-in value is $22k. The dealer was giving him $14k. Even after I told this member, they still wanted to do the deal!
Second, know what you want before you show up and actually research prices. Websites such as www.autotrader.com and www.edmunds.com are excellent sites to see the prices of new and used cars. I cannot tell you how many times a member has called me from the dealer to tell me the year/make/model/VIN and I find that exact car on Autotrader listed for less that the sale price they got at the dealership.
Simple enough. Do your research, show up prepared, because the dealer will do everything it can to get the most money out of you. It is your responsibility to keep the dealer honest.
Happy Hunting!
Double check your paperwork before you sign. Dealerships like to add many small dollar items that the customer doesn't know about and rarely will find valuable. $250-$300 for VIN etching is very common. Service will meerly pay your deductible (up to $500) if your vehicle is ever stolen which rarley occurs. MOst vehicles now days are just broken into, this service does not cover anything for those cases.
ReplyDeleteNew vehicles are now coming with extended warranties that cover the powertrain components for 5 years or 100,000 miles. Buying an extended warranty may no be something you need if you don't plan on keeping your car longer than that.
Being properly educated about the add-ons and which ones are of value could possibly save you thousands over the course of the loan.