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Car Buying Tips – Car Insurance Premium
Today is Memorial Day and there are plenty of car dealerships with “sales” going on. Are the vehicles really on sale? Not likely…here are six car buying tips you should know before stepping on the lot and buying a vehicle:
1) Ramp up advertising. On 4th of July, Labor Day, and Memorial Day holidays vehicle manufacturers crank up their advertising. Most of it is all hype. You will likely find the same prices that were present the week before. Yes, there may be a few GREAT deals but overall, status quo. The one day sales and 72 hour sales leading into the holiday are all about advertising hype with a heaping helping of free hot-dogs and soda. You can always wait until the next once in a lifetime deal.
2) Read fine print. Reading the fine print is important. Why? The few GREAT deals I just mentioned will require you to be a “Well Qualified Buyer”. Manufacturers make it a point to mention “Prices may vary, depending on dealer participation.” What does all that mean? “Well Qualified Buyers” are clients with stellar credit. If you don’t have squeaky-clean credit you can forget about that super deal. If you can’t qualify and choose to purchase anyway you will pay more.
Remember, you’ll really need to be on top of the price of your vehicle. That manufacturer quote from above is important. You may end up paying more at this sale from this dealer than you would from another dealer on another day.
3) Go prepared with a plan. You do know what vehicle you are looking for, right? Going on a car lot without a clue is a terrible idea. If you don’t know why keep reading…
4) Know the insurance cost. Make sure you know what your car insurance premium will be in advance. Visit insure.com and use their interactive tools (as of this writing: left tool bar) to get a rough car insurance premium idea for free. You’ll want to factor that in your preparation also.
5) THE Sales Push. This is the main reason you have to go prepared with a plan and know your insurance costs. The dealership’s sales manager and his crew are selling as many cars they can during these sales. They are going to be aggressive about you buying TODAY. There are usually some nice bonuses paid to move certain vehicles. It is high pressure. You may end up with a car you didn’t plan on having or want because it was in stock today and the salesman won you over.
You may be thinking, oh, they could never get one over on me. Quit kidding yourself. How many times do you buy a car in a lifetime? Now, how many cars do you think a car salesman has moved off the lot this year alone? An experienced salesman can get you to the dotted line.
6) Wait a few. If you have done your research be patient and wait a few days AFTER all the hype dies down. You’ll avoid the pressure of the hard sale and likely get the same deal or better on the vehicle you want.
There you go! Use these six tips to help you make a better car buying decision this Memorial Day.