5 Digital Hacks for Finding the Best Car Deal

by Taylor Haskings Word Guru Extraordinaire

Buying a new or new-to-you car can be started on your phone. Eventually you will need to do a test drive and get it checked out by a mechanic, but you can narrow your search by make, model, price and current mileage. You can also determine the sale price of your existing vehicle before you get to the dealership. Doing adequate research beforehand will help you make the best decision when it comes to finding the best car deal.

Get the Loan First

To start, you will want to run the numbers on a loan. A simple mortgage calculator on your phone can help you check the numbers on a variety of interest rates and allow you to add a down payment if you intend to finance only part of the car loan.

If your credit isn't great, sign up for a credit monitoring app on your phone before you get to the dealership. Getting your financing from the dealership may mean a hard pull on your credit as they check to see if they will give you a loan. If your credit rating is low, hard pulls will make it worse. As possible, try to get your vehicle loan from the bank where your paycheck gets deposited. Your bank may be able to get you a better interest rate and may be easier to work with if you're rebuilding your credit.

For those who are facing serious financial challenges due to recent world events, consider setting up an account at a credit union and routing at least a portion of each paycheck into that account. Credit unions have more flexibility to help those with credit challenges and can offer more personal service. Once you have a relationship with your credit union professional, you may be able to get a better rate in a refinance on your vehicle loan.

Buy Something Basic

If you love a particular tire or trim on a vehicle, run the numbers on the basic costs of these add-ons. The dealership may be able to take care of this for you, but you will end up paying a mark-up on those custom rims. You may also be able to add these onto your vehicles yourself with a bit of YouTube research instead of paying for dealership labor.

For those who have a strong loyalty to make and model, custom add-ons may already be installed on your current vehicle. If you plan to swap anything out, make it clear to the folks at the dealership of exactly the trim they will be getting on the vehicle you are trading in. Be prepared for pushback if you intend to do this swap in their lot.

Check out pricing on other customizations, from window tinting to paint color. There's no reason to give up on exactly the car you want, but you may not be able to pick it up from the dealership in exactly the format you want. Create a list of prices for all of these updates and be ready to show it to the sales team so you have data to back up your price offer.

Look Further Afield

You may be looking for a specific vehicle for work, for starting a business or to allow more space for your family. As long as you can find a reputable mechanic at the current location of the car, you may well find out that car shipping is the fastest way to get exactly the vehicle you want for a price you can live with.

While looking for the perfect vehicle, make sure you can also find a mechanic locally. If you live in an isolated area and really need a top-of-the-line four-wheel drive vehicle, be certain you can also get it serviced easily. You don't want to be stuck with a car that can't be repaired easily. Make sure you also consider any weather or regional considerations; if you find the perfect car in Arizona and you need to move it to North Dakota, you will probably need to address rust protection and a block heater.

Don't Fall in Love

Carefully study your options within 100 miles of your current location before test-driving any vehicle. Liking your new vehicle is important, but if you get too starry-eyed you may pay far more than you need to for your vehicle. Do take care not to shop when you're tired or hungry; you lose patience and mental flexibility when your body and brain are tired out.

The greatest negotiating tool you will ever have is the power to walk away. Once you can't leave the dealership without the car because your emotions are elevated, you've lost your negotiating power. Vehicles wear out, depreciate, and need to be replaced. If you're desperate for a vehicle, consider renting or leasing for a short amount of time while you continue to look.

Get Prices from NADA and Others

The National Automobile Dealers Association, or NADA, has an app that can help you determine a fair value for your current car. It may be tempting to consider your existing vehicle as a down payment for your new one, but the dealership won't treat it as one. Put your phone in selfie mode and practice looking shocked at the offer from the dealership. Remember, they make their money in the buy.

Don't trade in your existing car unless it's looking rough or mechanically challenged. Get an estimate for bodywork and repairs before taking the car in as a trade so you know how much value is fair to take from the value of the car. You can go into your negotiations well-armed with digital data so you can be confident in both the value of your existing car and a fair price for your new vehicle.

Buying a car can be nerve-wracking. You need the best value you can get, you want a fair price for all concerned, and you want to maintain a good relationship with the dealership to make sure that any warranty you get is honored. Study reviews with care; one unhappy customer can leave a review that always pops to the top of the feed.

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About Taylor Haskings Junior   Word Guru Extraordinaire

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Joined APSense since, August 30th, 2021, From Lakewood, United States.

Created on Jan 24th 2022 11:36. Viewed 238 times.


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