Buying a vehicle that would suit most peoples
needs can be to say the least... a hair pulling experience. When I start
looking to buy that next vehicle, a lot of things have to weigh in.
Questions like these listed below need to be taken into consideration:
- Will this be the primary or
secondary truck?
- What would this truck be required
to do throughout the year?
- Will the truck be pulling a
trailer, boat or camper?
- What can I afford to spend to get
what I want?
- What will it cost to add the
options if they were not already present on the truck?
- Do I buy or Lease?
I can't stress this enough, do your
homework prior to heading to the car lots. I knew I wanted either a Toyota
or Nissan based on past experiences of durability and resale value. I also
knew I wanted to replace the king cab I already owned with at least this
style or the next step up too the Crew.
I needed a four wheel drive 4X4 and a
Reese style hitch to accommodate pulling our 17' Bass Tracker boat to and
from the Boat launch as well as pulling one of the three trailers used for
the snowmobiles, four wheelers and hauling wood.
I could get the best price with no trade
and was able to sell our 1998 Nissan King Cab to my son allowing me to put
substantial down payment on an outright deal. Most dealers really don't want
a trade and you will find that if you ask trade price verses outright, most
will knock off $1200 to $2000 on an outright.
Now do the math, if you sold the truck for
lets say $4000 to an individual and the dealer was offering you $4500, which
is the better deal? Add the $1200 too 2000. to the price sold to an
individual and you come up with the actual value being $5200 to $6000 doing
an outright sale. Dealers have to go through your trade to make it ready to
be resold...this costs the dealer time and money as well as any possible
warranty issues that may arise.
Most dealers will try to get you into a
lease on a new truck. There are a lot of things to consider and be aware of
before signing on the dotted line. How many miles do you put on the truck a
year? With a lease there is a base mileage set and you can buy more at the
time of lease signing. If you decide not too and you end up over the mileage
allowed...there is a penalty for every mile your over. You also have no
equity at the end unless you happen to buy the truck at the end of the
lease.
This option is great if your a business
and can write off the full lease payments on your taxes, but if the business
vehicle puts on a lot of miles throughout the year it would be better to go
on per mileage bases which usually allows for a better deduction.
Shop around for the best interest rate on
the vehicle. Its a very competitive market where a lot of banks are offering
low interest loans on even on used vehicles. On new models, auto makers are
offering from 0 percent too 2.9% and rebates on selected models. We were
able to get ours down to a 6.2% on a used 2003 model through a bank.
Understand that what the sticker
price is and what you end up paying can be a large difference. Most dealers
start high because they know most buyers want to haggle to feel like they
walked away with getting one over on the dealer and saving money. All prices
are negotiable. Know what are willing to spend prior to walking in the
door. I check Kelly blue book
to give me a general idea of what to look for in a price. I'm not into
haggling and state that from the get go. My approach is asking...What's the
best price you can do on this vehicle to make us both happy.
If the price is higher than I really want
to pay, I simply thank the salesperson for spending the time with me and
drive away. I have actually had salespeople chase me as I walked away
wanting to know what I would be willing to offer. I take the time to explain
that I am not into the salesman's game of having a salesman run to the sales
manage pretending to be on my side to get me the best price. You have seen
the game before if you ever bought from a dealer.
The usual set-up is the sales manager
looking like they are the till of the Hun and the salesman pretending too
fight to get you a lower price. The salesman glances over his shoulder with
a smile hoping that you think they are your hero in the game. The actual
conversation revolves around how much do you think we can get out of this
guy? Be a smart consumer.
Again, I can't say it enough...do your
homework first before walking on to a car lot and don't buy the first one
you try or do the deal the same day without going home to think about it.
It's called buyers remorse and getting sucked into the hype of getting that
vehicle now if you buy without having some quiet time to think before
buying. Good Luck and I hope this helps |
The New York Hunter
