You Should Know the Car Buying Proccess
Posted: Monday, April 04, 2011
by Jim Klark
Car Buying How to and More!
Obviously the first step of the car buying process is to determine your budget otherwise the car salesman will have you looking at vehicles that are out of your price range. Whether you can afford a new car or a used car is a matter of personal choice and affordability. You should know your limitations and transportation needs before visiting the dealership because the salesperson will do their best to have you spend more than you planned on spending so it is essential that you set a budget.
Selecting an automobile that fits your budget, needs and wants is usually the best part of the buying process. You probably already have a pretty good idea of the type of vehicle you want to purchase such a car, truck, van or SUV and your desired options. Now that you have a good idea of what you are looking for in a vehicle you can go to the dealership and select a few that fit your criteria.
Test Driving Vehicles
Once you have selected a few cars that fit your budget and requirements you should take them for a test drive. The ride and the feel of a car can be very different than you may think so a test drive is an important part of process of buying a car. Looks can be deceiving and experiencing the operation, fit, visibility and ride is a natural way to narrow your choice until you find the vehicle you want to purchase.
Making a Deal
Now that you have made a choice of the automobile you want to buy it is time to make the deal. You would tell your car salesman that you would like to purchase a particular car and you want to work out the numbers. If you have a trade-in vehicle this is when you want the dealer to appraise your car and determine the trade value. The value will reduce the price of the car you want to buy and the amount you will be paying or financing. If you don’t have a trade in car then you don’t have to worry about the value or this part of the process for buying a car.
Car Buying Negotiation
This is the part of the car buying process that most people hate and feel completely out of their element. However negotiating a car purchase is not difficult. It is merely a process of offers and counter offers until a purchase price is agreed upon by both parties. The buyer offers to pay less than the asking price of the car and the dealer either counter-offers a smaller price reduction or none at all. The salesperson will need to check with their sales manager to see if they will accept your offer and return with an answer. Once both you and the dealer agree on a purchase price the negotiations are complete.
Paperwork and Financing
In order to complete the purchase transaction there is paperwork to be prepared and signed along with the desired form of payment. Payment can consist of paying cash, paying by check or financing the vehicle. Dealerships work with lenders to provide auto financing for their customers when an outright purchase is not possible. These lenders require the dealer to have you sign a form allowing them to check your credit and determine if you qualify for an auto loan. If you and the vehicle are eligible for financing the interest rate and term will be disclosed. Now that the price and form of payment have been determined the buyer and the dealer will sign all the paperwork that is required by the state. This paperwork will show the sales tax, licensing fees, documentation fees and any dealer fees. Once this final step of the process for buying a car is complete all you have to do now is drive your car home.
This article on the car buying process was written by Jim Klark an auto industry sales expert that helps consumers wade through all the tricks, scams and unethical tactics that car dealers use to get your money. You can learn more about the steps to buying a car at Jim's website CarBuyingHowTo.com
This Article has been viewed 109 times. (Not updated in real-time.)
No comments yet.We want your comments! If you can read this, you don't have javascript enabled, so you can't use this comment system. Please enable javascript.