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Total new vehicle sales in 2017 surpassed the $1 trillion mark. Growth in sales has been aided by online car shopping, which eased the process of purchasing new cars and trucks. Americans now hardly walk into showrooms in search of a new vehicle.
However, one still has the option of visiting any of the 17,000 new car dealerships spread all over the country. When you combine both offline and online dealerships, you realize that the process of choosing the right dealer and car is even murkier. Here are seven tips to guide you through and get the best deal for your new truck.
1. Know What You Want
With plenty of options available, you need to start the process by assessing your car needs. Go through different review sites, comparing different models. Your assessment may point you to a new car that meets your needs.
2. Factor in the Long-Term Costs
The total costs of owning the vehicle should play a part in the decision. Choose a car at the auto dealer with excellent resale value. Use online valuation sites to help you calculate the ‘residual value.’ Besides, compare the fuel economy of the different models. Small differences in gallons per mile may add up to thousands of dollars in savings.
3. Compare the Different Pricing Options
Different auto dealers may offer varying prices of the same model vehicle. Consult online pricing guides to find out the Manufacturer’s Suggested Retail Pricing. You can leverage the difference in percentage points from the invoice price to haggle a better deal. Choose a new car dealer that provides the best offer within your budget range.
4. Choose Your Financing Options Wisely
If you plan to buy a new car using a loan, make sure you do a credit check with your lender beforehand. Most car dealerships offer different financing options for their clients. It is advisable to shop around first before settling on the loan option you prefer. You may also take advantage of a dealership’s cut-rate financing deals.
5. Get Behind the Wheel
The internet has undoubtedly made it convenient to order and receive your car from the comfort of your home or workplace. However, nothing beats a trip to the new car dealer to get a taste of the truck. A proper test drive allows you to feel if the vehicle is the right fit for you. Remember the little nuisances you overlook may develop to full-blown frustrations a few years down the line.
6. Check Out the Dealer’s Incentives
Most manufacturers and dealerships provide special offers on certain models to entice buyers to purchase. Head over to the ‘special offers tab’ on their websites and check out additional perks that you may enjoy. Extended warranties, free oil changes, cash-rebates, car covers, extra tires are some options that may help sweeten the deal.
7. Go through the Contract
As you finalize shopping for a new car, make sure to read through the fine print. Confirm that all numbers agreed upon are in the contract. Stay sharp as the new car dealer may secretly introduce additional costs in ‘market adjustment fees’ and other add-ons.
Finding the best deal for your new car purchase can be difficult, especially with a fast-talking salesperson rattling out numbers you don’t understand. Conducting excellent research on the model you need, pricing, financing options, and additional perks may help you negotiate a sweeter deal for your car. Don’t forget to read through the final contract before appending your signature.