Archive for April, 2011
For many folks, car buying can be a hassle because of the fear that too much research and study must be completed in order to insure that the purchase results in a good investment. No one wants to get ripped off when buying either a new or used vehicle. There are a few tips to remember when shopping around, and just a little brain work means some big savings when the signature is finally attached to the bill of sale.
When To Buy A New Car
Although TV and Internet advertisements for new vehicles are often at their peak in the spring and summer, the best investment in a new automobile occurs October through December. This is because the initial inventory is still on the dealer lot and there is a great deal of pressure for the sales personnel to move these vehicles. The best price discounts will occur at this time, and the car driven off the lot will indeed be new, as opposed to a vehicle that is purchased the following summer. The latter may have only seven miles on the odometer, but it is already recognized as a year-old model as far as the industry is concerned.
Think About Rebates And Incentives
A manufacturer’s rebate can usually be applied to the down payment, or used to discount the purchase price itself. A $20,000 car that can be purchased with $3,000 cash back means the customer can insist the rebate be deducted from the original price. This results in lower taxes paid on the car, and so long as there is an adequate down payment, the monthly payments – and accrued interest – will also be lower.
Check Out The Warranties
If the car is going to be in the original owner’s hands for some time, it is important to make sure the bumper-to-bumper warranty is for at least 36 months. Also remember to ask about transferring the powertrain warranty if the car is sold during the time it is in effect. Don’t forget to ask about the additional features such as OnStar® and satellite radio. Often these are a free trial subscription only, and must be paid for after 90 days.
Before Buying A Used Vehicle
Tale a look at the car value sites on the Internet and become familiar with how they present the facts. When shopping for a used car, find a model that seems like a good investment and make sure to check out the value of the automobile online. This means looking at its fair, good and excellent values. Also write down what the report says about its dealer price as well as a private party value, and take this information along when actually examining the car in person. Never forget to ask about existing warranties that may be transferable.