Wednesday, March 12, 2014

Buying or Leasing a Car

I am ever so grateful I only buy a car once every few years. I dread negotiating with a car dealer. Most folks have similar feelings, though I have met a few individuals who truly enjoy the challenge.

It is best to plan the purchase as opposed to being forced to buy because your car has died. You want as little pressure as possible. You must be able to walk away if the deal does not suit you.

The best times to buy/lease:
1. at year end,
2. at month or quarter end,
3. during bad weather when most folks are inclined to stay home,
4. at the end of the day,
5. late summer, early fall when the new models are introduced.
All these times force dealers to give discounts to meet sales targets.

Next steps:
1. Determine what make, model and options you want.
2. Pick four or five dealers. Use the internet to shop dealers and compare prices before ever stepping into a showroom. Talk with the dealer's internet person, give them the details of what you're seeking and ask for their best price. Make sure you get the name of each person with whom you speak.
3. Go to the next dealer and ask if they can beat that price. Do the same with the next dealer. Try to get the deal done on the phone before heading to the dealership.
4. After a week of conversations, you then state "I am very serious about this purchase!"

You may even ask a friend to get a price quote from a "buyers' club" where they hold a membership to verify "a good deal".

Be prepared to walk away until they meet your terms.

If you are trading in your present car clean it inside and out beforehand. Having the service record could be a plus.

If you do your homework and time it right you could save up to $2000 or more.

Be $ smart!