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Getting the Best Deal on Your New Car

Aug 1, 2008
Purchasing a new car is always an exciting experience whether you are looking to buy a used or new one. If you are concerned about price or simply enjoy getting the most bang for your buck, it is important that you understand how to best navigate through the process and get the best deal on your new car. If you don't know where to begin, don't worry. We have done all of the hard work for you. We will give you the information that you need to find a great car, for the best price possible.

1. Shop Around: This is probably the most obvious and well known rule. You won't know your options if you don't take some time to look around. Thanks to the internet, this is now much easier and more convenient to do then in the past.

It is best to compare car prices and terms of local car dealers. This can be done online and in person. If you are willing to drive a bit, check out what dealers are offering in other cities or states. Another great way to secure a good deal is to get pre-qualified this gives you greater leverage when haggling with car sales persons. They understand that you already have the backing of a lending institution and that you are ready to do business.

2. Buy Used: Unless you just have to have a new car, it often best to purchase a used car. This is because cars depreciate so fast, it doesn't make great financial sense to buy them new. Instead, you can get great deals for used cars. You can also pay them off faster because they are generally much cheaper.

3. Be Sure That Your Car is Fuel Efficient: A good way to save on your car long term is to get a fuel efficient car. The less money that you have to spend on filling up your tank can go into your pocket.

4. Forget Leasing: Leasing can be incredibly expensive if you go over your pre-determined limit for miles. Some owners of leased cars end up paying $.25 per extra mile. Many people underestimate this and end up paying hefty penalties.

5. Save for a Down Payment: Saving up for a down payment is one way that you can secure greater terms and lower monthly payments for your new car.

With the slowing economy, and a housing market in the dumps, it is more important then ever to find the very best deals possible when looking for a new car. There are several ways to accomplish this. They include buying a used car, avoiding leasing due to potential, expensive penalties that will be levied if you go over mileage. You also need to purchase a fuel efficient car. You will also want to save up for a down payment. Putting a down payment on your car will ensure that you get lower monthly payments and most likely a lower interest rate. Being sure to shop around and comparing rates and terms, will ensure that you get the best deal possible and won't have buyers regret, soon after your purchase.
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