When you are ready to buy your first car ever, you will want to be very price savvy of the type of car you are buying. You need to know if the sticker price of a car you are interested in is the true value of the car or not. You definitely don’t want to be paying more for the car or SUV that you are looking at. You will then need to familiarize yourself on facts and information about solid car-buying tips so that when it comes time to deal, you have the upper hand.
Knowing the True Price of a Car
When you find a car you like and need to know the value, it’s not going to be readily apparent to you but you should be able to get a ball-park estimate of what it is worth. This should be somewhat close to the actual value of the vehicle. Stepping into a car dealership armed with this knowledge will put you in a good position which is better than most of the public that walks into the same dealership.
Once you know the market value of the car, you know that this is the average price that people will pay for the car. One of the best ways is to do comparison pricing on the vehicle you are looking for. If you do not have a car in mind yet, you should have at least 3 choices. Never go looking for a car without know which specific model you want. The reason for this is you need to do your due diligence on research of the car. You don’t want to buy a car that has had too many bad reviews.
Price comparison sites will also give you reviews of the car that you are interested in buying. Once you have selected the car you would like to buy, make note of the prices , write it down if you have to or take screen shots with your phone. You can use this information when you try to bargain for a used car at a dealership. If they are priced too high for the same car you saw online, you can point this out to the salesman.
Now, in some cases you may find a car priced higher than average. One of the main factors for this is the mileage. Cars with a lower average mileage of similar cars and the same year, will be more appealing therefore more expensive. If the mileage of a car you like is either the same or higher of similar cars yet the price is higher, you can point this out to your salesman for answer. Use this as bargaining power.
Set a Budget
Along with proper research of the right used car for you, make sure you set yourself a budget. Go online and use a finance calculator to help you decide. If you are financing, this is all too important because you can quite easily extend this budget by an attractive finance package. Do not let this take control of you. Pick a budget and stick with it. A car dealer may try to sell you a higher priced car and you should never fall for it. If you feel they are trying to stick you for more money, just leave.
Do Your Research
Once you have decided on a particular type of car, make sure you narrow this down to the year as well. The age of the car will greatly affect the price. As mentioned above, make sure you research the car you want to buy, making sure there are no ‘lemon’ reports and that there are no recalls. At least no recalls for something considered serious. Research things like gas mileage, reliability and resale value. Along with researching the car, if you find a dealer you should also check their reviews. A good way is to look at the Google reviews as these will be more authentic than any review on the dealers site. We scoured the web and found a good example of a dealership in Toronto that has great reviews. Check out their car line-up here – Dupont Auto Centre – used car sales. A star rating above 4 is great, above 4.5 is stellar, which these guys have.
Stay Cool and Collected
If you’re really excited to see the car you found online in person, keep this enthusiasm in check. You don’t want the salesman to see your excitement because he or she will just see you as an easy target and not budge on the price. Look at other cars too. Don’t be laser focused on the one car even if that is the one you want. Be calm, but give them the hint you are a buyer and a not a tire kicker and they will respect you. Ask for a test drive and if you like what you drove, make the deal.