How to Buy a Car
If this is your first time negotiating with a car salesperson or if you’re a seasoned vet at this sort of thing, Apartments.com hopes these pointers may be helpful.
Step 1: Do Your Homework
Buying a car is a big decision and knowing the facts can save you a ton of time and money. Here’s what you need to know before you visit a dealer:
- Research your car choices. Don’t choose a car just because you think it looks good on the road. Check safety ratings, compare prices and look into special options. Cars.com is a fabulous resource for researching cars. You can check pricing, find out about recalls, compare features and even find out what the most popular car colors are in the US.
- Get invoice and sticker price estimates for your car at cars.com. You can research your car including special options and find out the price that you should be charged and where you can start the negotiations.
- Check your credit. You may be entitled to a free report from the three major credit reporting agencies (Experian, Equifax and TransUnion). Check their websites for more information. If you’re not entitled to a free report, you can still get one as long you enroll in the free 30-day trial period for their credit monitoring services (you won’t be charged as long as you call and cancel within 30 days). Make sure you check all three reports as they may contain different information. Look for inaccuracies or any false usage of your personal identification and if you find any errors, report them immediately to the bureau for correction.
- Search for loan rates and extended warranties to see if you can get a better deal than your dealer might offer. For your negotiations, print out the offers and bring them with you when you visit the dealer.
Step 2: Know the Game
Many people pay sticker price because they are afraid to negotiate or aren’t sure how or where to start. Negotiating is much easier if you know how to play the game. Knowing the sticker price or MSRP (Manufacturers Suggested Retail Price) of the car as well as the invoice price (price of the car minus fees and other markups) is the first step.
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