3 Things to Avoid When Buying a New Car
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Buying a new car can be stressful. First you have to find a vehicle you want, then you have to find a way to pay for it, and of course, make your way down the the dealership. However, if you’ve never purchased a car before, or are trying to learn from old mistakes, there are a few things you should know.
There are lots of things to avoid when buying a new car, but knowing what is a good deal and what is a scam can be difficult. In order to save you trouble down the road, we’ve put together a list of the three things you should avoid when buying a new car.
Unnecessary “Protections” and Upgrades
There are a lot of ways to protect your new car. Whether you are wondering what type of insurance does Progressive offer, or whether or not you should be buying an extended warranty, there are ways to make sure your investment is protected. However, some dealerships will offer invalid warranties, unnecessary upgrades, and more.
One thing to avoid when buying a new car is the allure of upgrades and warranties you just don’t need. If you don’t need a 10 year warranty, or tinted windows, then don’t get them. Make certain to be very clear with the person you are working with at the dealership. This will help you save money, and keep them from putting any unwanted “deals” in your new car package.
A lot of new car buyers are shocked when they compare their final price to the sticker price of their new car. This is because there are lots of hidden fees that some dealerships put into the overall cost of the vehicle. Sure, you can negotiate an early signing discount, but when it comes to adding to the price tag, some dealerships definitely take advantage.
Here are a few examples of hidden fees you can avoid when buying a new car:
- Dealership Preparation Fees
- Document Fees
- Advertising Fees
- Market Adjustment Fees
- Loan Rate Mark Ups
All of these and more can be added discreetly to the cost of your new car. While you can’t avoid paying ALL of them, you can always ask for a reduced price for that fee. Especially with the document preparations and advertising.
Paying Ticket Price
A huge thing to avoid when buying a new car is paying the ticket price and then some. The MSRP for a new vehicle is typically marked up by a dealership. This means that their cost isn’t actually the cost of the new vehicle.
You can negotiate the overall costs of the car. All in all, how much is taken off the ticket price can be determined by how you are paying. If you pay in cash, then you can possibly get a few thousand written off. If you are getting a loan, then you will pay more over time so you can try to get the overall monthly payments down.
It all depends on how much the dealership can afford to take off without breaking the bank. However, if you are good at negotiating prices, then you definitely should try to talk down the cost of your car. Remember, you can always take someone with you to help with negotiations.
Now You Know What to Avoid When Buying a New Car
Let’s face it, getting a new car can sometimes be a hassle. However, if you know what to avoid when buying a new car, you can save yourself a lot of trouble and a lot of money. Keep these three things to avoid in mind the next time you make your way to the dealership.