How to buy a car in today’s high-tech world

As technology continues to makes great strides and cars become more and more complicated, it is increasingly difficult to make informed decisions on your choice of transportation. There are several key steps to take to ensure you are making a wise investment.

  1. Research

The first step is use the many online resources available to review and compare vehicles. These sites could include such organizations as caranddriver.com or the automaker’s own sites. Based on that information you can narrow your search and begin your on-site research at dealerships. Once there it is important to thoroughly inspect and test drive the car to experience the nuances of the car.

  1. Budget

Based on limited monthly funds, it can be very enticing to lease a brand new expensive vehicle at a very attractive monthly amount. However, a smart alternative to look at a slightly used car that has already had the depreciation paid for by someone else. Usually, a three-year-old vehicles coming back from a lease is your best bet.  End of year deals for last year models are not always the best bet. Newer, redesign models, may offer substantial features and looks that make the previous year model much less valuable.

  1. Negotiation

You need to come armed with a thorough knowledge about the value of the vehicle including what other dealerships are offering. Make sure you know exactly what you want and don’t want.

  1. Trade-in

Trade-ins represent an important money-making proposition for the dealership and so it is wise to not bring that factor into your negotiation for your new vehicle. Negotiate on the price of the new car (not the payment) and then discuss your trade-in. Another option is to sell your old vehicle yourself separately.

  1. Financing and Extras

Do your homework. Understand the local bank rates so that you can make an informed decision when being offered financing through the dealership. As usual, read everything carefully and never sign a document without fully understanding all the details and facts.

Purchasing a new or used vehicle can be a stressful time but if you do your research and homework upfront the process can be easier and pay big dividends.

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