General Discussion
In reply to the discussion: I have a question about buying a vehicle... [View all]kudzu22
(1,273 posts)My rules are:
1. Come armed with your own financing. Go to your bank/credit union and get preapproved for a loan. Then you know what you can spend, and it allows you to observe rule #2...
2. Always negotiate the price of the car, not the monthly payment. They will jack you around with monthly payments and before you know it you're on the line behind a 7 year loan and you'll end up owing more than the car is worth. Never get into that situation.
3. Do research and find out what exactly you want.
4. Don't be afraid of used cars. If you shop around you can find a 3-4 year old car that is just as good as new, and costs far less. Or, alternatively, you can get far more car for the same price.
5. Beware of the stuff they sell you in the "office" after the deal is done. People let their guard down once the price is settled, and don't pay attention when they're filling out the papers for you to sign. They try to get you to buy extra stuff because they know you're tired and just want to get out of there. Don't fall for it.