Buying a car can be considered as a major financial decision, the second biggest after purchasing a house. If you are planning to buy a car, then you should start the preparation even before you enter the showroom. Most of the people think that they should wait until prices drop. But, experts say that there is no such thing as a good time to buy a car.
If you take a few things into consideration, any time can become the perfect time. Following, we would like to present you with a list we have compiled of the top things you should consider before buying a car. Let’s take a look.
No. 5: Consider the budget
When planning to buy a car, it is essential to think about the budget you are willing to spend. According to financial experts, one should not spend more than 20 percent of their monthly income to buy a car. You should always consider additional insurance apart from the monthly payment, as this can add up quite a lot to your final cost.
No. 4: Have a look at the invoice amount
You should also know the invoice price of the car. It is the amount which the dealer pays the manufacturer. Any car you buy, regardless of brand or model, should cost slightly over what is written in the invoice. If you find a great difference between the invoice amount and the retail price, then you can negotiate the price accordingly with the dealer. .
No. 3: Check the website of the manufacturer for discounts and special offers
Most automobile manufacturers offer discount coupons competitions, where the buyers are allowed to participate and win coupons. Sometimes, buyers can even qualify for multiple discounts. Some of these discount offers are not even made public, but you can check the manufacturer’s website to learn about the latest offers and discounts available. You should always remember that dealers will not give buyers every discount that is available to them. Therefore, it is beneficial to check the manufacturer’s website to get this additional discount.
No. 2: Do some research
Buying a car from a reputed and reliable dealer will save you a lot of hassle. You can surely save some money and avoid unnecessary headaches. There are numerous websites that allow people to write their reviews. You can find online reviews of the dealer or just talk to your friends and colleagues, so that you can locate a legitimate dealer. You can also compare between various dealers, to see who can offer you with the best price on the model car you’ve been dreaming to buy.
No. 1: Take time to purchase
Take enough time and do not rush your decision. As said above, buying a car is a major investment and one should take sufficient time to decide. Dealers always run on monthly basis. At the end of month, dealers will reduce the prices to reach their monthly targets. The end of the year will be another great time to grab great deals and discounts, as the week before New Year is a slow time for cars. So, if you can wait for a while, it’s a wise decision to buy a car during this period.
