Common Car Myths
Purchasing a new car is exciting, but can also be a stressful and confusing process. It’s important to know what you want, and to be able to discern fact from fiction.
There are many steps associated with the process of selecting and purchasing a car. The top priority on many individuals’ list is to find a good price, and a good value for the product they are purchasing.
Many Americans spend a great deal of time online, researching and comparing prices, features, dealerships and offers. Knowing your rights and what you should and are willing to pay is a crucial step of the process, allowing you to leverage your position and negotiate the best price. Automobile prices are highly dependent on supply and demand, but no sale should be made without the a process of negotiation.
It’s important to understand which vehicles have available discounts, and why when determining how to get the best value. Purchasing the most expensive car does not ensure that you will get the best car offered by the dealership. Similarly, when a discount is offered for a particular car, it doesn’t necessarily mean that you’re getting a deal.
In order to boost car sales, dealers will often offer discounts, warranties, and packages to help bring in revenue and clear cars that are not selling as well from their lists. In fact, dealers are often ready to sell cars with reportedly small sales figures at marginal profit, just to clear them from their lists. In such circumstances, your bargaining capabilities are significantly higher, and you might wind up getting a great deal.
Before going to purchase a car, consumers must also be aware of the various discounts, rebates, warranties, and packages being offered. These offers are made strategically to help dealerships boost sales and bring in more revenue to the dealership.
Many people believe that all extended warranties and special offers made by dealers are thus scams, done for the sole purpose of making money and cheating consumers. While warranties can lead to price inflation, a strategically chosen warranty can leave you much better off at the end of the day. In order to avoid excess costs, be sure to compare warranties offered by various dealerships and companies. If you do not find a deal on a warranty that you deem to be a good deal, you may also acquire your warranty from a third party.
Another area where many consumers choose to use a third party is the process of financing your new car. Third party rates are easily accessible on the Internet, creating a popular option for individuals to receive financial assistance. It is important, however, to shop around before choosing your best financing option. The common myth that financing your car through the dealer is more expensive is not necessarily true. Be sure to thoroughly explore your options, including financing options through the dealership itself, before making a decision.
Another factor to take into consideration when buying a car is the best time to do so. If you’re looking to save some extra money, buying your car at the right time can help! More often than not, the end of the month is the best time to purchase a car. At this time, dealerships are trying to clear out certain models and make the most profit to finish up the month. January also tends to be the time of the year when car prices are at their lowest, following the holidays and in light of the poor weather. With sales down, dealers not only lower their sticker prices, they’re also more willing to bargain with customers, increasing your chances for getting a great deal.