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[H730]How Buy A Car

by Robin Segal, Rob

Buying a car is the second-largest purchase most people make after buying a home. When you buy a home, think about all the help you have: you have a broker to help you find the best home for you, and a mortgage broker to help you find the best financing. And an inspector to make sure the house is safe. Sometimes you also have an attorney to make sure the contract is fair, and a title company makes sure the title is clear before you pay for the home. But when you buy a car, there is not one person there to help you. And the dealers want you to THINK you can waltz in to the dealership and buy a car from start to finish in an afternoon… and sure, you can, but you will pay much much more if you do it that way. Here are four tips to give you an advantage:

1. Make at least one trip to the dealership JUST to look around and drive the cars. Promise yourself you will not buy that first time, no matter what. Why? So that you can go home and look up information on the internet, including dealer cost, safety ratings, option prices, and any manufacturer to dealer incentives that the dealer has certainly not told you about!

2. Know what you can afford before you visit the dealership to buy! This means talk to your personal banker or credit union officer before going to the dealership. Why? Some dealerships might actually WANT you to sign on for a more expensive car than you can afford so that you will then default on your loan and they will repossess the car.

3. Whenever the finance manager calculates something, insist that he show you the calculation. Why? The easiest place for dealerships to take more money from you is in the monthly payment. It is VERY common for dealers to increase monthly payments by just a few dollars, even $20 per month, over about a five year period is like giving the dealership $500 extra on the spot.

E.G. If you tell the salesman you can afford a payment of $500 per month, he might find a deal for you in which the payment works out to $460 per month. But instead of telling you that, he might tell you that he has “great news”!! - - that your payment is down to $480. What happens to the $20 difference between the lender'' $460 per month and the $480 the dealer is charging you? It goes right into the dealer's pocket, and you will never know it unless you Len how to run the calculation yourself, or at least run it by your banker. How much would a dealership make, taking in an extra $20 per month for five years, on a loan with an interest rate of 3.9%? About $500. It is next to impossible to figure this kind of thing out without a financial calculator, or a friend with a financial calculator. But it's worth the trouble!

4. Write down everything you learn about the car, from the internet, magazines, and especially from the salesman. Why? Doing this keeps everybody honest, and literally “on the same page”—YOUR page! Your salesman will see that you are writing down everything he says, and he will be less inclined to lie, or to try to change information on you later on. This tip is all about staying in control.

If you purchase a car that gives us endless headaches, that will somehow ruin our plans like when you want to go out of town and enjoy some quality time with our loved ones.

This is basically the reason why it is always necessary that we equip ourselves with relevant knowledge that will guide us in making car purchase. The hunt for relevant knowledge is not too hard to do as most people think it is.

Primarily this is because there are tons of resources available where you can get the latest news and updates. From these resources we can get the procedural articles that will lend helpful insights to us. There are also tips and tricks in store for anyone who would like to make a car purchase.

Second, we can also ask from people who have the direct knowledge when it comes to automobiles and car dealership. There are people who would even be willing to give technical know-how to anyone who would dare to ask for assistance.

With the kind of community and world we have, car purchase is almost inevitable and thus very necessary. This is especially true if we work in offices which are remote from our homes. This is also true if when have kids who attend schools far from our homes.

There are also many cases when public utility vehicles and public transportation have no exact routes that could even get us near our offices and homes. There are indeed so many reasons why deciding to make a car purchase is at best inevitable.

But unfortunately there are some people who find car purchasing a scary and a tricky one. This is not altogether baseless and unfounded because there are really car dealers and sellers who take advantage of other people's lack of sufficient knowledge on car purchase deals.

There are hundreds of dealers who overprice cars while there are others who insert unfair provisions in contracts of car purchase. These are but some of the unfair things used car dealers might do to you and most probably if you are unaware of such matters and if aware you nevertheless don't know how to do countermeasures you might end up a victim.

So, here are some tips you can do to avoid getting at the losing end of your car purchase. First, read magazines and online references from automaker's websites. This will enable you to approximate the fair market value of the car you are interested to purchase. Second, make a research online.

You can check out the websites of used car dealers who are not necessarily automakers themselves. You can also ask for a quote from them. Then, keep a note of all the vital details you find. This will help you consolidate accurate information that you will use when the time to decide from which dealer you will purchase your car.

A car purchase deal need not be that scary and tricky. Just know as many relevant details you can find and make these details as your guide posts in making your decision.

Article Source : Pg. 4

About Author

Both Robin Segal & Alex Baumm are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Robin Segal has sinced written about articles on various topics from Finances. . Robin Segal's top article generates over 60500 views. to your Favourites.

Alex Baumm has sinced written about articles on various topics from Build Muscle, Finances and Cover Letter. At CarClubTalk there are tons of resources available where you can get the latest news and updates, tips on. Alex Baumm's top article generates over 60500 views. to your Favourites.