Getting the right car for the right price is everyone's goal. But it isn't always as easy as it sounds. Not only are there more than 50 new car brands competing for your attention at any one time, but the list of options are virtually endless! And the car dealerships are no help – in fact they're out to get you to spend as much money as they can. Here's a few insights from your local asset financer to help you stay ahead of the game when buying a car! How much do you want to spend? Before you even start considering which model to buy, you need to figure out a budget and stick to it. Car finance can take up a lot of your disposable income if you let it, so it pays to talk to us to help you figure out what you can afford to spend before you get started. It also pays to get your financing in place before you go anywhere near a car dealership! When you use us to secure your asset financing beforehand, we can shop around to get you the best available rate for your financial circumstances, just like we do when we're helping you with finance for your home. The financing car dealerships provide can seem cheap, but they often have a lot of hidden expenses – and they don't give you a better rate if you're a good risk. If you get pre-approval on your car financing before you go into the dealership, you can compare the costs of buying the car as well as the cost of the car itself. Know what you're looking for Dealership car salesmen are experts at selling you stuff. You may walk into a dealership with the vague idea of pricing a car and getting a ball-park figure for your trade-in and walk out with a fully equipped 4WD with all the extras before you know it. Do your research online before you set off to look at cars. Decide which model you want and what optional extras you need and don't need. Are you looking at a sedan, wagon or 4WD? Will it be a petrol or diesel model? Manual or automatic? What is the recommended retail price listed online for what you want? Make your decision and get this set firmly in your mind before you talk with a salesman. Stick to your guns about what you want and don't let them upsell you with things they make money on. Even insurance is usually cheaper if you go direct than if you let the dealership arrange it! If they offer you an extended warranty, make sure you read the fine print. They usually cost a lot extra and they can sometimes lock you into getting your car serviced at that particular dealership – so you can't shop around for a better price on that either. Haggle! Once you have pre-approval for your financing, you naturally want to get the best price for your new car too. When you have researched the car you want online, follow up with some telephone calls to the dealerships. Ask them for a price on the car you're looking at, with the extras you want, then make an appointment for a test drive so they know you're serious. Do this with more than one dealer and that way, you'll find the one that's keen and most open to negotiations. Also remember to ask for the 'drive-away' price of the car. If you don't you may find the actual price of the car is a lot more than the original price they quote you. Dealerships do this to draw you in – they don't always quote the total price including dealer delivery charges, registration, stamp duty etc. Do your test drive then haggle with the car salesman to get the best price on what you want – remembering that you don't want additional extras thrown if for free, you want a good price on the car that you've chosen. Once you've obtained the best price you can manage, take that price to the next dealer and use it to negotiate a better one! Remember, the recommended retail price is just the recommended price. Most dealers have room to negotiate with you and if they won't, then just go somewhere else. Get top dollar for your trade-in If you plan to trade in your existing car, then make sure you know exactly how much it is worth beforehand. Naturally, a car dealer will offer you less than what you might ask if you were selling it yourself – after all, they have to make a profit. But sometimes unscrupulous car dealers will try and give you much less than what it's worth. Make sure the car is clean and in good condition. Get it serviced and get the paint and bodywork detailed if necessary. You can shop it around to several car dealers and see which one will offer you the best price. Team this with your newfound negotiating skills with the car you want and you will come out ahead on your new car deal. Call us to chat about your car financing needs today. We can arrange loans through a panel of different lenders, so we're in a great position to get you the best rate available.
How to get the best price on a new car
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