Por Jennifer Zavala
Buying a car can be a stress filled experience, which is why it’s good to be prepared before you search for your next ride. I’ve done some research and found four things (according to Consumer Reports) car buyers should keep in mind:
- Do your research
Investigate the models and the costs of the vehicles you’re interested in before you go to a lot, especially in the case of used vehicles. Prices can vary depending who’s selling the vehicle, its condition, the number of kilometres on it and where it’s being sold.
- Think about securing a loan in advance
Consider setting up a loan in advance. Not only does this create a budget, but could also allow you to negotiate interest rates that can save money long term.
- Figure out the value of your trade-in
Many car buyers trade-in old vehicles to secure a discount on a newer one. Figure out what your trade-in is worth before discussing its value at the bargaining table. Resources like the Canadian Black Book of Cars, the Kelley Blue Book and websites like Autotrader can help determine a ball park range for the value of your trade in.
When it’s time to buy, discuss the value of your trade in after the price of the new vehicle has been settled. This can help maximize your discount.
- Comparison shop and know the “real” price of the vehicle before you sign.
Figure out what you’re willing to pay for a vehicle you intend to buy and comparison shop with multiple dealers. Also remember it’s best to negotiate based on the bottom line price and not your monthly payment.
Before You Search – Think About Your Insurance
Many car buyers don’t factor insurance into their search until they’ve decided what car they’re going to buy. Checking with your insurer at the beginning of your search can save you time, money and guide you to a vehicle you’ll be happy with long term.
Being prepared can save time, money, and make car buying much easier. If you have questions about purchasing a new vehicle or about your auto insurance, get in touch with me at: (647-560-2035) or stop by my office to talk.