Car Buying Tips

Before you purchase your car—whether this is your first vehicle or your fifth—there are a few tips you should keep in mind to make sure that you get the best deal possible. Here are the top eight tips you should arm yourself with before you sign on the dotted line.

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• Do your research. Know what you want, and what you don't want, before you talk to any sales people. Know what is standard on your vehicle of choice, the safety ratings, how much extras will cost. Choose which upgrades you will invest in and know the value of the car.


• Get a copy of your credit reports from each of the three major credit reporting agencies and have them with you when you go to the dealership. Don't let anyone tell you that there is some discrepancy on your credit report when there isn't. Be prepared to point out mistakes if there are any.


• Make a budget and stick to it. It's easy to be seduced by fancy upgrades and add-ons when you're surrounded by that new car smell, but don't let yourself rationalize overextending your finances.

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• Never buy on impulse. Sales people are trained with one thing in mind: How can they get you to buy a car before you walk out the door? Don't let them rush you or hassle you or pressure you in any way. This is a big purchase, and you should be allowed the time and space to make your own decisions.


• Take someone with you. This person can not only work to help you keep perspective on your purchase, but also help you negotiate with the sales people. In a pinch, they could even be a co-signer (but ask them about this before you put them on the spot in the dealership).


• Go for a test drive. This is a major purchase. Take the car out for a spin before you invest.


• Have a mechanic picked out who will be available to inspect the vehicle for damages from previous accidents or natural disasters if you are purchasing a used car. Be prepared to run a Vehicle History Report, as well, for the same reason.


• Go online before you go to the dealership and apply for your car loan. You'll get the best rates possible and have the added bonus of being pre-approved for financing when you walk in to buy your car.

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