Hello world! I'm not a great writer or even like to write, but I've been in the car business nearly 10 years and would like to teach people how to buy or sell cars, correctly. I'm happy to give advice on a product. Just about every adult has to deal with buying and selling or trading in your car. I work for myself buying cars cars in the United States and selling them to Canada. In Canada, cars and trucks are more expensive. (manufactures taking advantage of our brothers and sisters to the north) So, I buy here in the US and send them to Canada. Both new and used. This blog will answer questions you might have or at least educate you on buying a car.
First lesson and biggest lesson!! Buying correctly, do your homework, when buying a vehicle either new or used it's very important to do your homework! First, figure out exactly what you want. Oh, I want an SUV?? Well every manufacture makes some type of SUV, so ask yourself, what kind, what do I really need and want?
First lesson is Buying new? Well, lets start there. I want a new car? Great! Ok, I want an SUV! When you figure out what make and model you want...go to edmunds.com and figure out what dealers are paying for them. Dealership get vehicles from the manufacture and have a certain amount of time to sell that vehicle. Hot selling vehicles they start paying interest the minute its hit the port or rail-car, other vehicles they have as long as 180 days to sell the car before they have to pay of it. On edmunds.com you can look up what the dealership is paying for the vehicle and negotiate from there. Many dealerships will sell that car at invoice, especially if you have done your homework!! They're there to sell vehicles and your their to buy, but you really have the power, because you have to gold! Dealerships work very hard to intimidate their customers and act like their doing you a favor. Reality is...they have to sell and hopefully service your car.
Now, don't feel bad for Mr. Dealership, if you buy the car at invoice then how do they make mone?. Well, every car they sell they get dealer hold back money which as a general rule is 3% of the invoice price. If a car costs $30k, then the dealership gets an additional $900. If you can get a dealership to give you some of that hold back money...you are one hell of a negotiator. So, lets start there. I will have finance and other strategies tomorrow. Bye for now.
