- Do your research. The Internet is a tremendous tool. You have the power to learn everything you want about any vehicle in existence. You have access to reviews of various models as well as reports of dealers in your area. If you take some time, you can even find out what cars are on a dealer’s lot before you ever even step into a salesperson’s office. Save yourself some time and research exactly what you are looking for and where you can find it.
- Line up your financing first. Securing finance for a vehicle can take several weeks depending on the lender. Before you test drive a car, make sure you can pay for it first. If your lender only approves you for a $25,000 car loan, you know that you cannot purchase higher priced vehicles. Before you walk into the dealership, you will know what your monthly payment is, your interest rate, and exactly how much you can afford. This knowledge narrows down your search and limits the salesperson from trying to sell you something out of your price range.
- Sell your trade-in on your own. If you have a vehicle that you would be trading in before your new purchase, forgo selling it the dealer and sell it on your own. You will get more than the dealer will give you. The dealer must make a profit on selling your vehicle; therefore, the offer for your trade-in will be much lower than an offer from a private buyer. By selling privately, you will not have to add in negotiating the sale of your trade-in to the dealer, saving you some time and frustration.
If you do have a trade-in, you may want to consider keeping it and using it as a finance tool. If the vehicle is paid off, you can use it for a car title loan. These types of loans are becoming more popular since they are easy to obtain and do not require good credit. It is even possible to use a car title loan to cover a down payment on a new vehicle. Embassy Loans has helped tens of thousands of customers through the years obtain access to cash using car title loans.