It usually happens at the most inopportune time – the car breaks down or dies altogether at a critical moment. This moment is when you are trying to decide if it is time to buy a new car. You are in a panic to buy something, anything, to get your life back on track and moving according to schedule again.
At the same time, you are contemplating the expenses you will incur by bringing your car to an automotive shop for service, sitting in the waiting room when your car is hoisted in the air on their car lifts. But don’t let yourself feel pressured to purchase the first decent deal you come across. If necessary, get a rental car for a few days so you can think clearly without being clouded by the inconvenience of being without a vehicle.
Sometimes it makes sense to go ahead and pay to have a vehicle repaired. If the car is paid for and there is no damage to the frame, it may even be wise to go as far as having the engine replaced or rebuilt. This resolution avoids that high payment for a new car, along with the greater insurance coverage demanded by the institution loaning you the money for the car. Only liability is required on a car that has been paid off.
If you are certain only a new or a newer used car will do, get online or go to the library to get a copy of Edmond’s online or book guide to determine the dealership’s invoice pricing and market value of any car you might consider buying. Then research car insurance. It is easier to rate and cover a driver over 25 who has had not tickets in the last three years, has a stable work history, and a good credit report.
To get the best possible financing, get pre-approved for a car loan. When you go car shopping with financing already in place you are in a much stronger negotiating position. This also means you had the chance to look for the best terms among loans.
Armed with information on vehicle values, knowledge of insurance charges on the types of vehicles you prefer, and pre-approval on a car loan it is time to go shopping. But you don’t have to leave home to do that.
Many dealerships have an internet sales representative that will answer your inquiry quickly via email. Even if they are not set up with a dedicated internet rep they no doubt have a fax machine. Call and get that fax number then send over your written specifications and ask them what their best price would be.
When the dealerships reply with their offer contact the two next lowest bids and tell them you have an offer lower than theirs and see if they will make you a better deal. With a written quote, you have solid information with which to bargain. Get the best deal possible.
By doing your research, whether, on car insurance, car loans, or on the expenses incurred for repairs on your car in an automotive shop equipped with car lifts, you will have peace of mind that you are making the right decision.