How To Be Smart About Buying Your Next Car

You have now arrived at the car dealership and you are excited.  You are also well-armed with your printouts from last night’s exhaustive online research and you have picked out your ride and have even decided that you are going to make a splurge on satellite radio.

Yet sometimes, when you are sitting there in the “hot seat” across from the car dealership’s salesperson, you are then thrown a loop as she brings up things that you did not expect.

Chris Anderson is a wiz when it comes to buying and selling cars. He is also known as the best Allstate agent in Albuquerque New Mexico.  Here are some of his suggestions for acquiring your next vehicle:

1. You may know the price of the vehicle you want, but have you checked out how much your car insurance and maintenance costs will be.

To find the best car insurance in New Mexico, contact them to request an insurance quote on the car you are considering. You might think that you can afford the vehicle, but can you afford your New Mexico car insurance as well?

2. Get your financing from another bank.

This will give you some leverage in your negotiations with the auto dealer. You really should know what that monthly payment will be, within a few bucks, prior to walking into that dealership.

3. Figure out your vehicle’s trade-in value.

We mean the actual value and not the car dealership’s value. You will likely get a lot more if you are willing to sell the car outright to someone directly, yet there is a convenience factor of just trading it in at the auto dealership and in some states, there can additionally be a sales tax advantage.

4. Ask yourself if you can afford the additional $50 a month?

Understand which features you want to have before going into the dealership, and know just exactly how much each of them costs. A salesperson at the dealership is going to give you a monthly payment, yet that extra $20 a month actually comes out to be $1,200, plus the interest and the sales tax, over a 60-month term. Is it really going to be worth it for, say, a sunroof that you may really only use just a couple of times each year, or for those rims that look so very cool but you do not really need?

5. Research warranties.

Before you go the dealership, find out in advance which type of vehicle warranty the dealership is offering and what it actually covers. Do not purchase anything that is going to duplicate what already is included with the deal. If you purchase an extended warranty before your manufacturer’s provided warranty is up, it is actually still considered as a new vehicle in the eyes of the extended-warranty service provider?

6. It is okay to walk on the deal.

Don’t ever feel pressured to make a decision at that moment. If you do feel this way, it is likely not the best decision for you.