Buying a new
car is an exciting time, regardless of whether this is your first time or you
are looking to trade in an older vehicle. Don’t let the excitement get the best
of you though. Sometimes, getting too excited can prevent you from obtaining
the best possible deal from your local dealership. Fortunately, setting
yourself up for a good deal is relatively simple. Follow these four tips and
you’re sure to get a fantastic price on new cars for sale, netting you more bang for your
buck:
Get Pre-Approved for a Loan from Your
Bank
The first step
you’ll want to take should happen before you even take a step inside a
dealership. Head over to your bank and get yourself pre-approved for a car
loan. Pre-approval will give you a clear idea of the maximum amount of money
your bank will loan you to help with your purchase. Not only does this mean you
are able to set a clear budget, but it also helps show the dealership that you
are a serious buyer instead of “just a window shopper”. This can be beneficial
because the dealership may be more open to negotiations with you, especially if
they are trying to hit a quarterly quota.
Base Computations and Negotiations on
Sale Price
While looking
at new cars for sale,
you may be mesmerized by the jaw-dropping monthly rates that are on display. As
appealing as these monthly payments may seem, be sure to ask about the length
of the payments. Sometimes, rock bottom monthly payments are the way they are
because you’ll be paying for five years or more. When you compute whether you
can afford the car that has caught your eye, make sure you ask about the actual
sale price of the vehicle. If possible, try to negotiate the shortest payment
period that you can afford.
Mention Your Trade-In Once You’ve
Decided on the Price
Many car buyers
use trade-in options to help pay for their new purchase. If you are planning on
trading in a vehicle, try to keep that information in your back pocket until
the last minute. When negotiating the price of a vehicle, it’s best to play
your cards close to your chest. Do your best to negotiate the price as low as
possible and if you believe you can’t get it any lower, that’s the time to
mention the trade-in. This way, you can get the maximum value of the vehicle
you are trading in.
Don’t Forget to Factor in Resale Value
When buying a
new car, it may seem premature to think about the resale value. However, this
is an important factor to consider if you plan to get a new car as soon as the
new car is fully paid off. Choosing a vehicle with good resale value is an
advantage because it means you get more out of the resale, whether through a
private sale or trade-in, which helps finance a larger chunk of your next car.
Choose a brand, like Chevrolet, that has good resale value. Once you’ve
identified that, try purchasing a vehicle from that brand that offers the best
resale value, such as the Chevrolet Silverado.
About McLoughlin
Chevrolet: McLoughlin Chevrolet is proud to be one of the best auto
dealerships serving Milwaukie, Portland, Beaverton, and Hillsboro, OR. We offer
a wide range of new cars for sale from Chevrolet and used cars from various
brands. Visit our dealership and experience the McLoughlin Chevrolet difference
today!
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