If you need a new set of wheels, the local dealership is the place to go. New car dealers have access to a wide variety of vehicles, from small economy cars to large pickup trucks and SUVs. New car dealers also have access to rebates and incentives, as well as financing that could save you a lot of money.
It is, of course, important to do your homework and know what to expect before you start shopping for a new car. Before you ever set foot on the dealer’s lot, you need to make sure you have the information you need to drive a great bargain and get the best deal possible.
Your Credit Matters
No matter what kind of new car you buy, chances are it will come with a hefty auto loan. The amount you pay for that new car will in large part depend on the interest rate you get – and that interest rate will be dependent on your credit score.
If you do not yet know your credit score, it is a good idea to pull a copy of your credit file and check. Whether you are looking for a specialty vehicle financing resource in Jackson MI or a loan from your local credit union, the better your credit the more favorable the terms will be.
Know What to Pay
Knowing where you stand credit-wise is important, but it is only half the picture. You also need to do your homework and determine how much you should pay for the vehicle you have your eyes on.
Hopefully you have already researched vehicles and reliability ratings and narrowed your choices down to a few potential choices. Before you head to the dealer for a test drive, you should also research how much others have paid and what the dealership paid for the car.
You can find this valuable information from a number of sources, including printed price guides and online databases. Once you know how much the dealer spent on the vehicle, you can negotiate up from there instead of down from the sticker price.
If you have a trade-in vehicle, it is a good idea to negotiate the purchase of your new car before you talk about a credit for your old one. It may be easier to negotiate the price of the trade-in and the cost of the new vehicle at the same time, but you could end up spending more as a result.
Buying a new car can be an intimidating process, especially if you have never done it before. Knowing what to look out for and what to expect can make the process a lot easier and let you head off the lot with your brand new car.