Consumer confidence is picking up. Gas prices are rising. Tax refunds are starting to flow. Those things are causing customers to give serious thought to buying a new car this spring. If you’re headed into the market, there are some important to things to know before you buy your car.
1) Check your trade-in value.
Used car prices have hit records over the past few years. That’s great news for people with low-mileage, well-maintained used cars. But you have to know two things before you go to a dealership: your car’s trade-in value, and where you stand on your car loan. In some cases, you may find out that you owe more on your car than it’s worth, especially if you’ve driven it a lot. (Raises hand.) If so, you have a couple of options.
2) If your car is in demand, go sooner rather than later.
Last month, small cars help General Motors post a sales gain, while sales of the Ford Focus were more than double in February from a year ago. If you’re pondering a Chevrolet Cruze, a Focus, a Honda Civic or one of the new Prius models from Toyota, you’ll have plenty of company at car dealerships.
3) Decide how you want to pay for it.
Dealers love to finance car transactions. There are often attractive programs from the car companies with better interest rates than you’re able to get at your local bank or credit union. But it isn’t a bad idea to get pre-approved by your own financial institution before you walk in the dealership. If the finance manager sees that you can go elsewhere, he or she might cut you a deal on the interest rate or the trade-in value.
4) Consider crossing the state line.
If you live in a city that’s a short drive from another state, like New York, or Kalamazoo, Mich., or Tupelo, Miss., broaden your shopping to include nearby states. You might get a better deal after a short drive than you’ll find in your backyard. It’s easier than ever to check dealership inventories online.
5) Make sure you can live with it.
There are a lot of people who are heading into the small car market who’ve owned SUVs or bigger vehicles for the past few years. It needs an adjustment in lifestyle and attitude.
In short, plan your strategy before you head into the spring car market. Then, breathe in that new car smell. To get more information about cars or car parts, you are free to visit carpart4u.com