Back in the spring, I was looking to buy my first car and trade in my lovable 2006 Nissan Sentra. However, my car accident over the summer sped up that process. By August, my boyfriend and I successfully negotiated an affordable price for a brand new 2013 Kia Soul. I would just like to reiterate that cars are expensive, and there is no buyer’s remorse. Once you sign the paperwork and are tied to a car financing company for several thousand dollars, there is no going back.
Two of the most important factors of buying a new car are research and budgeting. Look at different car dealerships to compare prices so that you can figure out how much a month you want to pay over an allotted period of time. A typical car loan spans about 60 months, but that can be reduced based on your interest rate and how quickly you pay down the loan.
While at the dealership, make sure to take a look at what is included in the price of your vehicle. This will help you negotiate when you go to buy your car. For example, when I was doing the numbers for my monthly payment, they did not come out to what the car dealer was telling me. As it turns out, he was adding in another $4,000 in mud flaps, bumpers for the car doors and pin striping. These were not included in the sticker price on the car window. These are unnecessary accessories that car dealers use to raise the price.
It is very important for you to calculate your own numbers. Do not trust the price the dealer gives you. Take some time and do the math. Make the dealer break it down for you. If he or she refuses to break it down, they are more than likely trying to add in an extra hidden cost.
Lastly, stay true to your price. If you say you don’t want to pay more than $200 a month, do not let the dealer sway you. No matter what he or she says, there is always a way to get it down to a lower price. My boyfriend and I were able to negotiate my car payment down from $290 a month to just $240 a month. Another worker at that dealership said that was a steal and something he had never seen anybody else accomplish.
Buying your own car is possible, even if your parents aren’t there. Do the math and stay true to your price. If you don’t like what you hear, get up and leave. Most times dealers drop the price even lower to keep you at their store.