New Car Buying Tips: How To Get The Best Deal On A New Car
Buying a new car is a big deal, especially when it is your first. In 2002, when I was 17, my parents bought me a beat up black 1999 Grand Prix that I absolutely loved. I put that puppy through a lot and it was passed down to both my younger brothers before making its way back to me. This past summer, my beautiful baby died — about a year earlier than I hoped and left me stranded.
I have no debt and despite the preaching of many to never by a new car, I felt it was the right move for me because I plan on keeping it until it eventually dies. Since this was my first time buying a car, I was nervous — but I read up and talked to some friends before starting my car buying journey. Here are a few steps I took:
1. Know your budget
Before you can even begin to figure out what kind of car you want to buy, you have to know your budget. Whatever amount you are comfortable with, set that range you’re able and willing to spend before hand.
When you know your budget, it will help you determine where to begin.
2. Research
Once you know your price range, start your research. The best way to research nowadays is online. Sites like Edmunds.com give you comprehensive information and ratings about the vehicle along with safety, fuel efficiency, and numerous consumer reviews. Researching online will give you the information necessary before you even step into a dealership. This will help you narrow down your choices, as well as help you think of a few questions to ask the salesman.
From these sites, you can also find the MSRP and the invoice price of the car you want. These numbers are important information to help you negotiate for the best deal. Obviously, you are trying to pay closer to the invoice price than the MSRP.
Once you narrowed down your selection and have a good idea of prices, head to the dealership.
3. Test Drive
In no way shape or form should you be thinking about buying when you go to the dealership for the first time. You are there to test drive and you should make that known right away. Try to test drive all the cars you want to check out on the same day. This will help you better compare the cars and make it easier to narrow down your options.
Tell the salesman you are looking to buy a car within a certain time period, that you’re visiting a few dealerships to test drive, and you would like to test drive one ...
