1) Buy at the end of the month: Dealers are assigned monthly and quarterly targets for the cars that they have to sell. Most of the times, dealers are fumbling towards end of the month to meet those targets, and are willing to give some extra discounts on the car at that time. They might even throw in some free accessories and options. So, that is the best time to buy a new car. In fact, if you can wait till quarter-end months (March, June, August, December), then you will get the best rates possible. (Like this article? Click here to be notified via email when a similar article is published)

2) Find out the price to insure the car: The biggest expense that you will have to do on your car is buying car insurance for that. The price of car insurance can vary greatly by the make and model of the car. So, it is always better to do some homework on kind of money that you will have to spend on insuring your car. It might turn out that your first choice car would be much more expensive to insure, than your second choice car. So, it is necessary to keep car insurance cost in mind before buying a car. I use Netquote.com to get a quick insurance quote from multiple insurance companies.

Save up to 20% on Insurance, Free Quotes!

3) Get prices from multiple dealers: It is very necessary that you shop around, and get prices from multiple dealers. That would ensure you get the lowest price of the car. This will also give you a strong negotiating tool: You can tell a dealer that another dealer is offering a lower price, and then this dealer will make a counter offer. You win. I use Yahoo! Autos to get Get A Quote. Quick. This gets quote from multiple dealers for FREE.

4) Find the Price that others are paying for that car: Once you have decided which car you want to buy, you need to find out what prices are others paying for that car. This information can be obtained at KBB.com

5) Try to secure financing from elsewhere: This is one of the very important steps to get the best rates for the car. Most of the people try to go with the financing options that are provided by the dealers. However, if you try to get financing from somewhere else, you will get 2 benefits:

  • You will be able to get better financing rates from your bank or some Credit Union
  • When you tell the dealer that you have already secured the financing, they will really go down on the price and you will get the best rates on the car. (Like this article? Click here to be notified via email when a similar article is published)

    6) Try to go low on options: The cost of getting extra options and accessories really increases the price of the car. Many times, you either do not need those accessories, or can get them cheaper from elsewhere. For example, I did not upgrade to moon roof and alloys when I bought my car. That saved me a substantial money. I also went with the basic music options that came as standard with the car, and later got a better CD/MP3 player from Best Buy. Saved lot of money.





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    4 Responses so far.

    1. Ju says:

      Got to bring a piece of paper to the dealership and don’t be afraid to do the math there and have them wait!

      If you buy a car here is a good guide to help you.

      http://www.butasforme.com/2009/03/29/how-to-buy-a-new-or-used-car/

    2. tom says:

      does it even make sense for someone to be getting financing for a car that will lose value each year, plus the moment it is driven off the lot?
      While still paying interest on the car.

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