Used Car Buying In 2015
The season is about to being for those cars that have survived the winter to be replaced! The cars have survived the slush, ice, and salt that this winter brought us.
This article to provided some help in making a car purchasing decision, along with the steps that you will need to find the car that you like.
Before you “Officially” start shopping start by answering these questions…
- What can you afford? Do you want to pay cash, or if your financing what monthly payment would you be the most comfortable plus or minus 25$. The reason I use the 25$ marker, it is just going to create a little buffer in payment. But creates a 50$ window, for you to work with in a monthly payment. A general tool of thumb is 20–25$ per every thousand dollar financed. Example a 10,000$ car will have a range of 200–250 a month based of down payment and credit.
- Find your credit score! Credit Karma is a free app that can generate a “approximate” credit score. Your credit score is one factor that the banks will use to justify your interest rate. Low scores 400–600 will have higher interest rates, 601–800s will get the best rates. (Do not worry if your credit is not the best, a car loan can help accelerate your credit building experience)
- Know that you are arm with a payment goal in mind, and a credit score the time is to go shopping! I recommend using AutoTrader, Cars.Com, or Car Gurus. These are great websites that are going to help narrow your search!
- How do you find the perfect car? The perfect car is different for everybody! From fuel economy, reliability, look, or functions (what the car will be used for ex. commuting, or hauling) try to identify what will be the primary use of the car! Example if you are driving long distances miles per gallon, reliability, and service schedule are going to be important. Opposed to hauling a truck or large SUV are going to be more appropriate!
- What is a good reliable car? is a questions that is often asked. There are many manufactures that have a great history of making very reliable cars (Honda, Toyota, Nissan ect.) But how cars are made now if far different from ten years ago! Many domestic manufactures are making very reliable cars. Do your research on the the brands that you like read reviews! Car and Driver is a great resource!
- While online read what other people have to say about the car. But remember what some people say might not be a huge issue for you. Example someone might say they wish the car had more space in the trunk, or wish it got better gas mileage when it was getting an average of 30 MPGs. Remember what some people find important you might not think is a big deal! But if you see a trend of mechanical issues with a car that you like chances are that you will run into the same issues if you were to take one home.
- So you have done your research(the average amount of time spent online is about 10 hours of research for a car buying purchase) you found a few cars that you like at the price that you can afford.
- Before you walk into a dealership find someone that has that car and ask to drive it! Or call a rental company to see if you can rent one for a day! The reason I suggest doing this is to reduce the possibility of an unpleasant buying experience. That and you can save plenty of valuable time if you do not like the car!
- Most dealers are sooooo hungry business they are going to try to sell you what they want to sell, and not always what you want. I recommend working with dealerships that do not negotiate the price, and have salary sales consultants.
- Dealers that negotiate are really not giving you the best deal, because they have the car marked up in price! So they can peel a few dollars off to create the illusion of you getting a good deal!
- So go to the dealership with the best price first! When at the dealership if the sales consultant is giving you a bad feeling…. Then just leave do not play the game!
- Once you found the car, take it out for a good test drive I recommend 30–40 mins. Highway and city driving will be very important even take it through a drive up window!
- Once you get back, get the car signed up and ready to take home!
- When in the finance managers office listen to all the options in terms of interest, and additional warranties they could end up saving you thousands down the road!
- Once all the paper work is done! Snap a picture put it up on social media, and enjoy it!