Money-saving techniques when buying a new car
Do you want to buy a new car but don’t have enough money? Here at TopSpeed.com we will give you useful and practical ways to save money when buying your dream car.
The first step in saving a buck would be to determine your wanted car’s fair price. Verifying for a car’s fair price is so easy and fast. You will just need to have that car’s invoice pricing. There are many ways to obtain a car’s invoice pricing especially through the internet. For instance, FightingChance.com has an intensive list of almost all cars’ invoice pricing for only US $35. The 35 dollar package also comes with info relating to a car’s present dealer records. This will save you hundreds (if not thousands) of dollars. Another site that gives you a relative car invoice pricing is Edmunds. They offer a free car invoice pricing. However, their lists are limited.
All the websites stated above have an easy and user-friendly registration forms. The free car quote system will result to more car dealers transacting with you – and if there are many car dealers to choose from, the more chance of having the lowest auto price. Through this way, you are using the car dealers’ competition to your own benefit.
The registration forms of Yahoo!Autos, Cars.com, CarsDirect, Edmunds.com, Car.com, InvoiceDealers, Autoweb, and Autos.com have Privacy Policies that protects each member’s personal identification. All submitted personal information will be kept confidential and will never be sold to any third party business partners. You will just have to provide your valid contact information such as your telephone / cellphone number, email, and home address. Your submitted contact information will then be used to update you with new price quotes of your wanted car.
It is very important to put in the registration form your factual and valid contact information because right after you finished registering, a dealer’s customer service representative (CSR) or a sales staff will get in touch with you. If this happens, tell that customer service representative that you are negotiating with many dealers. You should also provide them the features and descriptions of your desired car. After this, request for your desired car’s bottom line cost and any other related dealer fees. Then, tell them that you will not be dealing to the car. Nevertheless, if they come up with a special financing offer, tell them that you will have to think with their proposal. You should also specify that you are only paying attention to the car’s price (excluding your “would be” car monthly payments) and not to the car itself.
The third step would be to deal with your car financing. Looking around for a car financing entails a lot of money savings when buying a new car. But you should always remember that car dealership is not always the best place in getting a reliable car financing. Getting the most excellent car financing rate has to do with your FICO credit score. Credit scores are used to establish your car loan’s interest rate or more commonly known as the APR. There are many available online tools in the internet that can assist you in your FICO credit score. This includes ConsumerInfo, Credit Score, and TrueCredit. Many US states sends a free form of your credit report annually. However, this does not include your FICO credit score.
After you have established your FICO credit score, you should then look for an online money lender that has the most excellent car financing rates. Three of the best online lenders include E-Loan, Capital One Auto Finance, and AutoCreditFinders. Capital One Auto Finance has a 5.99 percent interest rate. They assist car buyers who have a 540 and above FICO credit score. On the other hand, AutoCreditFinders assists car buyers with a low FICO credit score.
The fourth step in how to save money when buying a new car would be to engage in a car trade-in. Trading your used car for a brand new car will help you save money in the long run. To better manage your car trade-in, we advise you to read the Kelly Blue Book. It is available in its website located at www.kbb.com. Engaging in a car trade-in will lessen your sales tax when buying a new car. However, we recommend you to trade your used car privately so that you will have a much higher price rate.
The last and fifth step would be to discuss and bargain for your new car. The registration forms you submitted (in the second step) to Yahoo!Autos, Cars.com, CarsDirect, Edmunds.com, Car.com, InvoiceDealers, Autoweb, and Autos.com for a car quote will create and gather many car dealers right in your doorsteps. During the first phase of the bargaining, you have to be cautious not to apply your car financing and trade-in techniques. Always remember to ask every dealer about the car’s general cash price including all the charges supplemented by the dealer. This excludes trade-in payments, incentive fees, and rebates.
After this, notify your dealer that you will pay in cash. If they ask if you would trade-in your old car, tell them that you will do it privately. From all the car dealers you have made contact using the car quote system, obtain each one’s initial car price. The next step would be to get the lowest offered price and get in touch with all the other dealers. State to them that another car dealer offered the lowest price of US $xxx,xxx and inquire if they can beat this price. Repeat this process (at maximum of 2 rounds) until all of them stops lowering their price. Pick the one who presented the lowest price. Through this technique, all your contacted dealers are competing with each other until one will offer the lowest price.
The five techniques mentioned above will save you thousands of dollars when buying a new car. It is very easy and practical.