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Buying a new car can be an exciting time, and you may be dreaming about cruising down the road in your new vehicle in the near future. However, before your dream can become a reality, you must first find the right vehicle to purchase and negotiate a great deal. To ensure you get the best results possible for your efforts, be sure to watch out for these four things.
Previously Damaged Vehicles
When buying a new car, you do not need to worry about previous damage done to the vehicle. However, many people are choosing to purchase gently used vehicles. Significant damage from a flood, hail or even a car accident can be covered up with vehicle repairs, but this can make the vehicle difficult to insure and can impact your resale value in the future. Whether you are buying your car from Young Automotive Group or another dealer, review the vehicle’s history report thoroughly.
Vehicles Without Warranty
When you buy a newer used vehicle, the warranty may convey to you as the new buyer. However, not all manufacturer warranties convey, and some may be expired because of age or mileage of the vehicle. While you do not have to buy a vehicle with a warranty, it is important that you are aware of the warranty status on the vehicle before buying it.
The Value of the Vehicle
The last thing you may want to do is purchase your dream car only to find out a few short months later that you are upside down on your purchase. Being upside down means that you owe more money on the car than it is worth. Placing a larger down payment on the car can help you to avoid this, and verifying that you get a great deal on the purchase also can be critical in this area. Use online research to determine the value of the vehicle now, and research vehicle value for similar cars that are a year or two older as well so that you know what to expect in the future.
Expensive Car Financing
Some dealerships unfortunately will encourage buyers to focus on monthly payments and down payments when structuring a financing offer, but it is equally important to pay attention to the financing fees as well as the interest rate tied to an auto loan. Some financing is considerably more expensive than others, and you may be able to save thousands of dollars over the life of your loan by focusing on fees and rates when making a purchase.
Car buying can be stressful and even intimidating, and it can be costly if you do not know what to look out for. By focusing on these factors when making your purchase, you can ensure that you get a better overall deal.