Buying A New Car

Buying A New Car



Buying a​ new car is​ one of​ the largest purchases most people make in​ their lives. Therefore, it​ is​ worth taking care and making sure the deal you get is​ the best possible.

Financing

If you need to​ obtain credit to​ fund the purchase of​ the car, you should be aware that the financing offered by the dealer is​ often not the best deal you can get. if​ you shop around for loans you may get financing at​ a​ much better rate. You should compare the annal percentage rate (APR) as​ well as​ the length of​ the loan and the amount of​ monthly repayments. Always look at​ the total amount repayable and compare this to​ the price of​ the car to​ see the cost of​ the finance.

Sometimes, dealers will offer you a​ very good financing rate on specific models that qualify. it​ may not be possible to​ negotiate on the price of​ these models and you should check to​ see if​ this is​ cheaper than buying another model that can be negotiated.

Make sure you have a​ copy of​ the contract and before you leave the lot, evaluate whether the repayment terms in​ it​ are affordable. if​ the dealer asks you to​ buy credit insurance, you should add this into the price and see if​ the car is​ still attractive. You should also check your existing insurance policies as​ you may be covered already under another policy.

If you are considering a​ trade in, bring it​ up only after you have already negotiated the best possible price for the car you want. You should also research the value of​ your old car so that you know what it​ is​ worth. This information will help you see what the dealer is​ effectively offering you for your old car and if​ it​ is​ a​ fair price.

If you are considering a​ service contract you should be clear on what it​ offers. They have many exemptions and you will already have some cover from the manufacturer’s warranty which is​ included in​ the cost of​ the car. You should certainly ask the following questions:

  • What does it​ offer over and above the warranty?
  • What repairs are covered?
  • is​ routine maintenance recovered?
  • Will they pay for parts, labor or​ both?
  • Who performs the work?
  • How long does the contract last and what are the cancellation and refund policies?




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