Before you sign the dotted line, it's crucial to confirm that you're getting the most value out of your purchase.
It’s easy to get caught up in the excitement of the car buying process – shiny paint, nice guys in even nicer suits, and dollar signs everywhere. Sounds like heaven if you ask us.
If you’ve done some homework online before going into a dealership, it’s safe to assume that in terms of vehicle type and features, you know exactly what you’re looking for. However, the decision-making process doesn’t stop there. Before you sign that dotted line, it’s crucial to confirm that you’re getting the most value out of your car purchase. Here are three questions that you should ask the dealer before you drive away with your new car:
1) "What's the warranty coverage?"
Too many people drive freshly purchased cars off the lot and have no idea what the warranty coverage consists of. Given the fact that the most expensive part of a car’s life begins after its sold, when it comes to maintenance costs, fully understanding the warranty could help you save some serious cash in the future. Every warranty will differ by manufacturer, model and year of the car, so it’s important to have the dealer go over the details of your coverage, including any exclusions – this will give you a better sense of what you will and won’t have to pay for future car repairs.
2) "Is that the best you can do?"
There’s no harm in negotiating the price of a vehicle on a dealer’s lot. This will show the lenders that you’re only interested in the best rates available to you. If you’ve done your research, it’s not uncommon for a dealership to lower the overall price so that it will fit better into your budget.
3) "Where did the vehicle come from?"
If you’re buying a used vehicle, this is one of the most important questions to ask. Used vehicles will typically come from trade-ins, auctions, or other car dealerships. If you can get your hands on an accurate maintenance history of the car that you’re interested in, you could save yourself trouble in the future. Did the dealership already perform repairs on the car? Was there any recent work done? Has the car ever been in an accident? These questions will help you better understand what to expect in terms of car up-keep, and not to mention, your safety.
Before you buy your next vehicle, verify the terms of the car, ensure that you’re familiar with its history and take a few minutes to make sure that the price is fair. A vehicle is one of the most expensive purchases that a person will make, so if you want the best deal possible, do your research and be prepared to ask questions.
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