Tips To Buying A Car

An Insider’s Tips to Buying A Car

3 Steps to Buying a Car
Financing
Research
The Dealership

Step One - Financing
Know your Credit
What’s your credit like? You can obtain a credit report for a fee at
www.experian.com , www.transunion.com , www.equifax.com .
Remember, claims for Free Credit Reports, aren’t always free - Read the fine print.
Where to look for financing – Get Approved First!
Your financial institution
Banks – they usually base approval on FICO score.
Credit Unions (usually better rates, friendlier service, and don’t have government issued bailouts!) – most CUs base approvals on their internal score, which encompass your FICO, debt ratio, delinquency rate and monthly income.
Most dealers have their own financing – usually base approval on FICO score.
Understand your payment parameters
If you’re not paying cash, you’re financing a monthly payment.
Figure out what your budget allows on a monthly basis
And, are you willing to make that payment for 5-6 years?

Step Two - Research
Take the time to research the vehicles you have in mind.
Factor in your “needs” and “wants”. Don’t assume your vehicle has a feature you need and/or want, check it out!
Independent Tests and Rankings
Consumer Reports
www.consumerreports.org
Motor Trends
www.motortrend.com
JD Powers
www.jdpower.com/cc/auto/index/jsp

Step Two - Research
Things to Know
Do you know the “invoice price”? (price dealer paid for car)
Are you going to be purchasing additional accessories for the car?
Are you going to be trading your old vehicle in?
Do you want a new or pre-owned vehicle?
What rebates or incentives are available?
These are factors to consider because it will effect your monthly payment.

Step Two - Research
Difference between Used and Certified
Used
Most likely not a dealer owned lot
Limited warranty, if any at all
Do you know the history of the car? Dealers are able to provide you a free Car Fax report or you can purchase one at www.carfax.com for a fee (you will need the vehicle’s full VIN).
Certified
Substantially longer and more comprehensive warranty
Almost always on a dealer owned lot (Lexus would not sell a “certified” Infiniti.)
Usually “newer” than a typical used car

Step Three – The Dealership
Before going to the Dealer
Determine the exact vehicle you want
Dealers are able to trade with other dealers for your specific car (that’s if they want to).
Interior/Exterior Color and all Options
Know the invoice price and MSRP, and which one are you paying for
Dealers will add their salesperson’s commission into this price, so always compare prices with other dealers
Determine your payments based upon your pre-approval with your financial institution.

Step Three – The Dealership
At the Dealership
Do not settle – dealers can trade
Do not feel obligated to finance with the dealer- don’t let them corner you in one of their “sales/finance” cubicles
Ask Questions
Check the contract (Purchase Order) information
Do not sign unless you are 100% comfortable with the information
Get a Due Bill for outstanding items
Watch out for the “Bait & Switch”
This is when they promise you one vehicle over the phone and present an entirely or even slightly different one when you arrive because “they just so happen to have sold that one.”
Don’t let them “Steal the Trade”
Most dealers will make up for the “great price” you got on your vehicle by lowering the amount of your trade.
Always remember – Your biggest bargaining chip is that you can always walk away and start over with another dealer.

There is an easier way…
Auto Expert is a personal shopper from beginning to end, and everything in between. We assist you in finding the vehicle, financing and delivering the vehicle to you.
We deal directly with the management of the dealership, removing the salesperons’ commission. And, we receive a volume discount.
We work with a selection of dealerships throughout southern California, so our inventory is endless.
We have separate trade-in vendors who bid on your trade. This allows for a fair appraisal without influencing the purchase price of your new vehicle.

Contact Us
Toll Free: 1-800-359-4567
www.autoexpertonline.com
twitter.com/autoexpertsocal
Our Facebook Page
Read more helpful information at our blog .
* We are currently only available to residents of southern California or people planning to purchase within southern California.

Tips To Buying A Car

by Auto Expert on Dec 09, 2009

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