Buying a Car

Buying a Car

Buying a vehicle is a rather detailed process and calls for due diligence so that an individual can strike the best deal. Cars, whether used or new, costs considerable sums of money that one cannot recover if anything goes wrong with the purchased vehicle. Hence, potential car buyers should carry out an in-depth research before closing a deal. Doing this will enable them to understand the features of the car and determine whether they match their expectations. The buyer should check the dealers’ or government websites, such as SaferCar.gov (Ronald, 2). This approach is convenient and saves them time and money. However, it is more suitable to visit the dealership and examine the car personally. In this way, they can confirm the advertized features and get an accurate feel of the kind of customer service they would receive from the dealer (USA Government 3).

An essential aspect of the buying process is ensuring that one gets the best deal in terms of pricing for your car. To do this, he/ she must ensure that he/ she is purchasing the vehicle at the true market value (TMV). As such, one must carry out a background survey to determine the price at which other recent customers purchased the same model. They should also survey the price-range in other car-selling sites to find out which seller is offering the lowest price (Dahiya, 166). If they did this, they would stand a chance of acquiring the vehicle at the TMV.

To facilitate striking the best deal, the customer must also engage a couple of negation strategies. One such approach is engaging the dealer from their comfort. For instance, one could ask to sign the car-buying contract from their home where they feel more relaxed and in a good position to read through the documents. This move would shield the customer from undue pressure to close a deal as it is the case if one wants to sign the contract from the dealer’s office (USA Government, 2). Also, the buyer can obtain a preapproved loan and check it against the dealer’s financing offer, and pick the one that attracts lower interest rates..

Several factors dictate what kind of a car deal one can afford. The critical determinant is your level of income. One should acquire a car model that they can pay for in full without much strain. Also, the payment plans your bank or dealer offers you weigh in on this matter. For instance, as Ronald notes, a high down payment or huge interest rates might mean that the customer is likely to go underwater soon after the purchase (4). Hence, the expensive deal would mean that he or she cannot afford to purchase the vehicle.

It is also crucial to carry out a round of checks on the car before paying for it. One could bring along a wingman, say his/ her mechanic, who should assess the car to confirm if its condition is as stated (Dahiya, 160). Besides, you should test-drive it to see how it fairs on different road conditions and also whether its features, for instance, boot-space suits your needs.

Again, one should weigh between buying a new or used car versus leasing or renting. A new vehicle enables you to keep pace with the latest car technologies and models. However, it might be uneconomical since, in most cases, people quickly get underwater. As such, a used car would be more economical since used cars cost less and in most cases, a person can get a better model for the same price you would pay for a lower-class new car. The disadvantage of second-hand vehicles is that a buyer could fall prey to shady deals, for example, where one gets a stolen vehicle. Leasing tends to work better for people who would like to enjoy the services of great models at a lower cost (Ronald, 5). Even then, one could end up incurring huge expenses in paying for damages to the car while it is in your custody, some of which may not be your fault.

References

Dahiya, Rekha. “Digital marketing communication and car buying: Differentiating users from non-users.” IIMS Journal of Management Science 9.3 (2018): 155-170.

Ronald, Montoya. “How to Buy a Car.” Edmunds (2020): 1-5. https://www.edmunds.com/car-buying/10-steps-to-buying-a-new-car.html

USA Government. “Buying and Fixing Cars.” 2020, 1-3.  https://www.usa.gov/buy-a-car