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If you are thinking on buying a new auto and you decide to finance it, be aware that the financing obtained by the dealership, even if the dealer contacts lenders on your "best interest" may not be the best deal you can get. If you decide to trade in your old car (not the best advice) make sure you talk about the possibility of a trade-in only after you have negotiated the top possible price for your new car, and after you have researched the value of your old car. Before going to the dealer’s showroom, be sure you research about what car brand and options you want, and how much you are willing to spend.

Price

Get a free dealer price quote online. Shop around to get the best possible price by comparing brands and prices in ads and at dealer showrooms. Because the price is a key factior in the dealer’s calculations regardless of whether you pay cash or finance your car, and also impacts your monthly payments, pulling off the price can save you money. Generally, the sticker price should include freight (also known as destination and delivery). Base Price is the cost of the car without options, but considers standard equipment and factory warranty. Sometimes, dealers offer very low financing rates for specific cars or models, but may not be willing to negotiate on the price of these cars. Remember that a warranty is included in the price of the car while a service contract costs extra.

Dealers

Always keep in mind this: Dealers may be willing to bargain on their profit margin, around 10 and 20 percent. Dealers should never know more about your credit than you. However, dealers often want to sell their current inventory quickly, so you may be able to negotiate a good deal if an in-stock car meets your needs. Dealers know their game way more than you do. Think about it, they do it every day. You will do it maybe 5-8 times in your whole life. Pay close attention, and better yet, visit cardealerexposed.ecuawebsite.com

Credit

If your dealer requires you to buy credit insurance for car financing, it must be included in the cost of credit, but DON'T DO IT. Before purchasing a new car, you HAVE TO get your credit report and credit score from Experian, Equifax or True Credit. They rely on dumb car buyers who don't know their own credit score and don't investigate before they buy a car.

Most people know their blood pressure and cholesterol level, but few know their own credit score. Show up at a dealer without knowing your credit report, and you might as well give them your a blank check.

I don't use the free government mandated credit report site because they do not give you the credit score. Even if you have previous bankruptcy, tax liens, or bad credit, as long as your credit score is 525 or above, and bankruptcies have been discharged, your chances are good. Write on the copy: the dealer may NOT run a credit check on you.

On 2/11/98 the Federal Trade Commission (FTC) reiterated that dealers are prohibited from getting your credit report while out on a test drive.

As an ex top salesman for a Toyota dealer, I encourage you to visit my website to find out more about saving thousands of dollars in the purchase of your new car.