Five Dos and Don’ts When Buying a New Car
Buying a new VW Passat in Chicago can be a lot of fun. Although many people are intimidated with the whole process of buying a new car, there is no need to be. When you are prepared, you can remain in control of the sales process. Following is a list of five dos and don’ts that will help you stay in control:
- Do get prequalified for your loan before you go shopping.
- Do understand the market for your new car.
- Do walk away if necessary.
- Don’t negotiate on your monthly payment amount.
- Don’t purchase an extended warranty.
Do Get Prequalified for a Loan
Getting prequalified for a loan has two main advantages. First, you will know what price range you can afford. This will prevent you from buying a car that is too expensive for your budget. Second, if you take the time to shop around for a loan, you should be able to get a better interest rate than if you simply take out the loan at the dealership.
Do Understand the Market
There are some items that are negotiable when buying a new car and some that are not. If you understand the market before you go shopping, you will know which things are negotiable and what the going rates are for those items or services.
Do Walk Away if Necessary
If you cannot come to an acceptable, fair agreement, walk away. There are many other dealerships that you can go to. Besides, truly being willing to walk away, and beginning to actually walk away, may be all that is needed to jumpstart the negotiations.
Don’t Negotiate on Your Monthly Payment
Once you set a monthly payment amount, do not accept a higher payment. Look only at the cars that you can afford. Remember, too, that interest, taxes, and add-ons all affect your monthly payment, in addition to the price of the car.
Don’t Buy an Extended Warranty
When looking for a VW Passat in Chicago, you are looking for a reliable car. Reliable cars do not need extra warranties. Most people have found that they spend more on the extra warranty than they ever do on repairs.