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Investing in the Car of Your Dreams

Aug 17, 2007
While it may be the car of your dreams, it is important to remember that investment in a car is not really an investment at all, unlike an investment in a house. The longer you own a house the more it is worth both in terms of equity and appreciation. Cars, and other property do not increase in value and regularly depreciate the longer you have them. There are obvious benefits to having a new car and certainly it is a good investment if you make the right choice of car for the right price.

Getting the car you want for the price you want at a dealership is possible. However, you need to know the difference between "know" and "no". Car dealership agents, like everyone else in the world, are looking to make money. Make sure before even stepping foot onto dealership lot you know exactly what you are looking for and how much you want to pay for. This is easily done especially with access to the world wide web. Now dealership agents have years of experience and know all the tricks to get a consumer to buy something they don't want for a price that is just too high. An important tool to have with you is a chart of reverse financing. That way when the dealership offers you a financing deal you can easily calculate how much the actually price of the car is.

There are several websites which offer tips on negotiating and purchasing cars. I think the best approach is just to be honest and straightforward - scamming a scam artist seems like a wast of time. Remember, dealerships want your business and are willing to bargain. However, you must have the ability to say no and keep saying no if you want to get the price you are willing to pay. Even if you are offered a deal you may still want to say no, you will probably be surprised by what a dealership is willing to offer you to keep your business.

They are going to use several common tricks associated with the car selling game. They will tell you someone else is interested in "your car", that it is the investment of lifetime for a great price, they may bring the manager over to confirm this is their best offer, and complain about standard procedure. The car dealership agent is not your friend so do not be afraid to stay firm on what you are willing to spend.

Car dealerships will also try to tack on document preparation fees, and other associate costs - never under any circumstances should you pay for the procedures of a car dealership. If you tell them no they will usually deduct the cost, after all you are spending $15 grand at their dealership. Buying a car is not the most profitable investment but certainly it can be just as fun to negotiate and research. Buying a quality car is a sound investment and if well maintained can offer you money toward a new car purchase in the future.
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