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| Car Woes: Coping With Buying an Automobile |
| By Stephanie Strickland |
 Purchasing a car is an ordeal almost every parent and their teenager have to go though, but by keeping these three simple tips in mind, purchasing an automobile can be a drive in the park.
1) Make sure everything works. My parents and I went to look at a car advertised in the paper, which the owner claimed was in great condition. However when we popped the hood to take a look inside, the battery fell out. Not a good sign and definitely not the best indication of a perfectly functioning vehicle. Despite what many teenagers believe these days, getting from point A to point B is still the most important feature in a car.
2) Haggle. Our ancestors had it right when they decided to haggle in search of the best possible deal. Of course they usually ended up with a milk cow instead of a car but at least they paid a fair price for it. Edmunds.com and kbb.com are good places to find pricing for any automobile, new or used. They give you the dealer retail, private party, and dealer trade-in prices so you can find out just how much you should be paying for your prospective car.
3) Save! Whether you’re purchasing a car, buying gas for it, or paying the car insurance bill, there’s one thing you’ll always want to have. Money. However you choose to earn your pay, you should always have a savings account at your credit union. This allows your savings to gather interest and also helps you to keep track of your money.
Buying a car is rarely an easy task, but when you shop smart and follow these three easy tips, it can be an exciting and fun experience. |
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Comments: |
On Tuesday, 27 Feb 2007, Danny said:
My tip for you is: Keep your emotions out of it! Make a list of things that matter and show it to people. See what they think of the list. If you are paying for it yourself or your parents are helping with all or some. You want to consider to total monthly or yearly cost to have and use it. I made a deal with my folks that if I choose a older cheaper used car and only had Liabilty Ins. they would use the difference on my summer travel trip to Austrailia! Newer car= no 3 week trip down under or Used car and the trip of a lifetime!!! You only have one life, don't spend it working for a car or giving up doing something amazing for it. GOod Luck. D |
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On Friday, 26 Oct 2007, MGS said:
One thing to be aware of - most car dealers will try and come up with a monthly payment that you can afford - you really need to read all of the disclosures, fees, etc. because you may end up paying a really high interest rate for a longer term. Don't focus on the payment - focus on the interest rate (including fees). Also - their last trick is to put you in a room with the finance manager - who will try to coerce you into buying all kinds of extra loan insurance, etc. Best bet - go to your credit union first - then you have the upper hand against the car dealer. Use the internet and look up fair values for the cars. When you find a car you are interested in, get the mileage, VIN number and their asking price - go home do a little research. you can get a vehicle history report cheap. Go back the next day with more information and set your price. Offer a fair price, if they do not accept it - then leave. |
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