First Time New Car Buyer?

Question

Hello -

I'm a new college graduate and think it's time for a new car.

Please provide any pointers on:
- financing
- dealing with dealers & dealerships
- buying online?
- negotiation strategies

Anything & Everything would be much useful & appreciated!

Thanks :)

Answer 1

I've found this site to be very helpful & answers all of your questions in an easy to understand way. It helped me when I bought my car early this month & I saved $1400.00.

Answer 2

First of all, Find out ur credit score, and what interest rate are you qualify for? Sometime getting loans from aproved Banks like Capital one auto loan is cheaper. If they approves you, u are going to run thru less trouble dealing with dealership.
2nd, decide how bad do you want that car.
3rd There is something call walk out of the door price, which included tax and S&H. When you negotiate, talk about the Walk out of the door price instead. Tho, if ur credit score is so bad and no banks approves you, then dont bother.
4th: common deal is people with qualified loan credit score usually walk out of the door couple hundreds below the MSRP sticker price.
5th open the door sill and look at the manufacturaer sticker, usually, how long did that car sit in the dealer's warehouse matters a lot to the deal you get. If that car sat there for 2 or 3 monthes, you will get a very good deal, which is like over thousand or 2 below the sticker. If it came to their warehouse last week... u'll figure it out....
6th Watch for scams.... eventho it doesnt happens to often...
7th if you are not in hurry of "i want the car today", always tell the dealer "i didnt bring anything today, i'll make an appointment to come back 3 days later after all the car price negotiation and credit check" they want to sell you the car no less than you want to buy. 3days later, you can still negotiate by "i found another dealer that sells me for less" of course... u are not expecting another thousand off... be realistic, maybe 2 or 3 hundreds
Email/msg if you want more info, cuz my uncle works for the dealer, and my family bought over 10 cars in the pass 15yrs brand new...

Answer 3

Okay, there is one thing that is VERY important.
You MUST Get car insurance for your car! It is the LAW!
If I remember right, I think they make you sign something that tells them you agree to provide insurance for the car.

Another thing you might want to get is called, (if they offer it ) called Gap Insurance.
Here is how it was explained to me:
If the car is totalled (or in insurance terms, declared a total loss) and you still owe money on it, what ever the insurance does NOT pay, this company pays it for you.
I would Strongly urge you to get it. If it doesn't get brought up, bring it up.

My husband had an accident that totalled our car, and the insurance would cover almost all of it, but there was a few hundred dollars difference (or something like that)we would have had to pay. We were sure glad to have the Gap Insurance.
We bought another car last year and got it again.. You discuss the Gap insurance when you finance your car.

Answer 4

1) Try to buy fuel efficient car it will save money
2) Look at the news paper inter net for the car you want to buy you will get an idea about the price.
3) Never pay sticker price check invoice price you can buy car less than invoice price.
4) Don't take any additional warranty it is rip off.
5) some car company will give you 0% financing or always you can go to your bank. or check capital one bank web side they will give a good rate (www.capitalone.com) go to car financing.

Good luck.

Answer 5

the absolute best website i have found and used is carbuyingtips.com you will find absolutely everything you need to know and what "techniques" dealers use to scam you so that you go in informed. also i would recommend you check your credit score so you know what kinda rates to expect and also you might wanna consider buying a 1- 2 year old used car. these are what i buy as it just makes more sense as you will discover when you go to the above website. it contains a wealth of information and is all you need to know.

Answer 6

Here's a link on ebay Map-it. that you can find cars in your home town.