Buying a car from a dealership?

[Walter Carlos]

Okay, so I went to my credit union a few weeks ago and go and pre-approved for a car loan. Incidentally, I don't know how long a pre-approval lasts for. My credit score hasn't changed.

What other things do I need to prepare for in advance of going to the dealership to negotiate on a used car? Do I need insurance information? Or can I strike a deal with them, and deal with that end later?

[Justin]

Your pre-approval will last as long as your credit stays the same. know as far as everything else you do need to be prepared to bargain them dealerships rip people off for a living. I think what you need to do is take someone that isn't timid because they will test your wits and try to get full price for what they are selling. and yes before you can drive the car off the lot you have to have full coverage.

[Derail]

Yup. The salesman will ask to make a copy of your insurance card, before you drive away. So have some kind of documentation with the policy number on it. And you'll need to get with the credit union and ask if it's okay you write out a check for the car. If so, you'll have to go back to the credit union after the deal is made so they can deposit that money in your account.

Don't be shy about offering less than the asking prices on the cars you look at. Make 'em think they really don't have what you were looking for. Then offer around 10 percent less. No matter what the final price is, always offer to seal the deal if they pay taxes and license transfers, et cetera.

[Paul]

http://www.carbuyingtips.com/

[frederick q]

Buying a car from a dealership

Car buying is not a task to be taken lightly. The cost of a new car equals almost what my parents paid for their first home. It's imperative to do behind the scenes research to ensure you get a great deal.

Do not be in a hurry. Car dealers can detect the scent of desperation a mile away! If you are totally without transportation, rent a vehicle until you find the right car. If you rush your purchase, you will usually end up on the bad end of the deal.

You can uncover the typical retail cost of a specific make and model right on the internet. With a little extra research, you can discover the wholesale cost as well. These two pieces of information give you an edge when it comes to negotiation.

It's best to work toward a win-win situation with the car salesperson. They need to make some money on the deal, and you want to pay a fair price. You can often negotiate a price that is $500 above dealer cost, or about 20% off the sticker price. Make sure you take your calculator with you when car hunting.

You can often order a car with *custom* option choices. This could save you hundreds of dollars. You might wait a couple of weeks, but why pay for options that you do not need?

Always check with the dealership to see if you can return the car if you do not like it. Many dealerships now offer this option. Some dealerships will give you a three day trial period in which to try the car.

It is a good idea to wait until the end of the month to go car hunting. Salespersons who want to meet a certain quota will be eager to strike a deal.

Knowing the value of your old car makes it easier to negotiate a better price for it. Try not to talk about a trade-in possibility until you get a purchase price. Sometimes this is difficult, as most salespeople will ask upfront about a trade in.

I took my car to one lot, and was told the trade in value was $1,200. Another dealership said they would give me $3,500 for the same car! So do your research to make sure you receive a fair price on your used vehicle. Stick to your guns when it comes to getting the value of your trade-in, especially if you've had your car serviced regularly.

A service contract will likely be brought into the negotiation. Most consumer information shows no need to buy an extra contract on a new car, as it's not likely a problem will occur during the first months of use.

Whatever you do, always read the fine print of any contract before signing it. Ask questions about what certain phrases mean if and when you do not understand something.

Also, just because a car is brand new doesn't mean you should buy it without asking questions. New cars can land in the lemon category as well as used ones. Keep on your toes during the negotiation process. You will enjoy both getting a new car, AND creating a win-win situation for yourself and the dealer.

[Tony]

You need to know what stipulations the Credit union put on the loan, such as; what is the oldest year and highest mileage they will loan on for you. Obviously you need to know how much they approved you for. Insurance;If you already have a insurance carrier, you can just call them from the dealership, or have your salesman do it for you. I call for my customers all the time. If you dont have one, the dealership can suggest one, but I recommend going to your friends and find out who they use and if they are happy with their service there. Good luck, and happy car hunting!