Buying a new car tends to become a bit stressful after a while. Searching for exactly what you want within your price point can be overwhelming. Add to that the stress of salesmen hounding you day and night, and you might as well take up stock in headache medicine, because you’re going to need it.
Fortunately, these three tips can help you shop for a new vehicle without incurring too many headaches along the way.
1. Get preapproved
Don’t shop for a new vehicle without preapproval for a loan unless you’re paying cash for your new car. Yes, car dealerships offer funding, but they tend to work with a select few lenders, and those lenders may not have the best rates at the moment.
By having a preapproval in hand, you know exactly what you qualify for, exactly what you’re spending, and you won’t encounter any surprises. It makes the whole trip less stressful.
2. Be firm with salesmen
The problem with salesmen is that they can be intimidating, especially if you aren’t sure what you want to buy and you make several trips to various dealerships. They all ask for your name and contact information. Before you know it, you’ve just had your credit run and you’re in the midst of signing a purchase agreement.
Be firm with salespersons. Do not hand them any personal information other than your name. Ask them for their card and tell them you will be in touch. Don’t let them guilt you into giving up any more information until you are sure you’re going to purchase a vehicle from them.
3. Lower your monthly bills to afford a new car
If you can’t afford the car of your dreams because it doesn’t fit into your budget, consider looking into your finances. By simply comparing mortgage rates in your area, you might find that another bank is offering a lower interest rate.
By refinancing your home for a lower rate, you can free up hundreds of dollars each year that you can apply toward your new vehicle.
Finally, if you aren’t completely satisfied with the terms of an agreement, walk out the door. You might be surprised what happens when a salesperson realizes he or she is losing a sale: You might just get what you want.