Secrets to Getting the Best New Car Deals Today
You may not have a new car on your shopping list if your finances are reeling from the recession and the bear market. But if you want a new car and feel that you can afford one, this is actually a terrific time to buy.
Consider…Auto sales cratered in 2008 to reach the lowest levels in 26 years, so inventories of many models are high and you can get rebates and discounts totaling as much as $10,000…0% financing…and/or other incentives.
Here’s some tips:
• Get quotes from dealers through their Internet sales departments. Check out www.kbb.com, CarsDirect.com and Edmunds.com. You can also check out local dealers websites for deals.
• After you test-drive a vehicle to make sure it is the one you want, do not visit any dealership before you have in hand a firm price quote on a specific, in-stock vehicle and are ready to buy.
• Make sure you bring along to the dealership the printout from the Internet.
• To get the best deal shop towards the end of the month, when dealership employees are worried about meeting their quotas.
• Check out online for manufacturer-to-dealers incentives, which enable dealers to lower prices further.
• Ask, “What’s my out-the-door price?” Some dealers quote low prices to get shoppers hooked but later tack on all kinds of fees and taxes to numerous to mention in this newsletter.
• Make sure the person who quotes you the price will be on hand when you arrive at the dealership. Otherwise, the salesperson who quoted you an attractive price over the Internet may be out the day that you arrive.
• Make sure you secure pre-approval for independent financing from your bank, credit union or online lender before you agree to buy a vehicle.
• You may need a FICO credit score of at least 700 and possibly 720, plus 10% down to get the 0% loans offered by the dealerships. Check your credit score regularly.
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