{"id":237278,"date":"2019-07-19T00:30:07","date_gmt":"2019-07-19T07:30:07","guid":{"rendered":"http:\/\/getrichslowly.org\/?p=237278"},"modified":"2023-12-05T14:17:37","modified_gmt":"2023-12-05T21:17:37","slug":"car-buying-cheat-sheet","status":"publish","type":"post","link":"https:\/\/www.getrichslowly.org\/car-buying-cheat-sheet\/","title":{"rendered":"Don&#8217;t buy a new car without this cheat sheet!"},"content":{"rendered":"<p><a href=\"https:\/\/www.nerdwallet.com\/blog\/2019\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright\" title=\"This article originally appeared on NerdWallet\" src=\"https:\/\/www.getrichslowly.org\/wp-content\/uploads\/nerdwallet.jpg&quot;\" alt=\"This article originally appeared on NerdWallet\" width=\"300\" height=\"67\"\/><\/a>Congratulations \u2014 <a href=\"https:\/\/www.getrichslowly.org\/new-car-plan\/\">you\u2019re about to snag a new ride<\/a>! We\u2019re assuming that you\u2019ve already done some research: You know how much you can afford to spend, which car you want to buy, and the true market value (what other people are paying) for that car in your area.<\/p>\n<p>And now you\u2019re ready to buy. Follow these steps to get a good deal and make the car-buying process at the dealership as painless as possible. To help make it easier, <a class=\"nw-link\" href=\"https:\/\/www.nerdwallet.com\/assets\/blog\/wp-content\/uploads\/2019\/03\/FINAL_Your_Car_Buying_Cheat_Sheet_FINAL.pdf?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly&amp;utm_content=620502\" target=\"_self\" rel=\"nofollow noopener noreferrer\" data-nw-component-type-name=\"Link\" data-nw-component-type-slug=\"nw_link\" data-nw-track-click=\"1\" data-nw-track-impression=\"1\">download our cheat sheet<\/a> and take it with you.<\/p>\n<div style=\"width: 791px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" title=\"At the dealership, evaluate the car and the salesperson. (Photo from Getty Images.)\" src=\"https:\/\/www.getrichslowly.org\/wp-content\/uploads\/GettyImages-1000031132-2.jpg\" alt=\"At the dealership, evaluate the car and the salesperson. (Photo from Getty Images.)\" width=\"781\"\/><p class=\"wp-caption-text\">At the dealership, evaluate the car and the salesperson. (Photo from Getty Images)<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"before-you-go-to-the-dealership\"><\/span>Before You Go to the Dealership<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Arrange financing ahead of time to make the negotiation easier and help you get the best deal.<\/p>\n<ul>\n<li><a class=\"nw-link\" href=\"https:\/\/www.nerdwallet.com\/blog\/finance\/great-credit-powerful-tool\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly&amp;utm_content=620502\" target=\"_self\" rel=\"nofollow noopener noreferrer\" data-nw-component-type-name=\"Link\" data-nw-component-type-slug=\"nw_link\" data-nw-track-click=\"1\" data-nw-track-impression=\"1\">Check your credit score.<\/a> If you need to build your credit, consider waiting until your score will let you get acceptable financing terms.<\/li>\n<li>If it looks good, <a class=\"nw-link\" href=\"https:\/\/www.nerdwallet.com\/blog\/loans\/best-car-loans-for-good-fair-and-bad-credit\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly&amp;utm_content=620502\" target=\"_self\" rel=\"nofollow noopener noreferrer\" data-nw-component-type-name=\"Link\" data-nw-component-type-slug=\"nw_link\" data-nw-track-click=\"1\" data-nw-track-impression=\"1\">apply to get preapproved<\/a> or pre-qualified for an auto loan.<\/li>\n<li>Select the best interest rate and the shortest loan term you can handle.<\/li>\n<li>Consider calling the dealership to confirm the car is still for sale.<\/li>\n<li>If you call, prescreen the salesperson: Does he or she listen and seem knowledgeable?<\/li>\n<li>Decide if you\u2019ll want extras like an extended warranty, paint protection, or additional anti-theft devices. Remember, these are high-profit items for the dealer and you can always buy them later.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"bring-these-items\"><\/span>Bring These Items<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Think ahead and be prepared with the right documents and information. Take with you:<\/p>\n<ul>\n<li>True market pricing from <a href=\"https:\/\/www.edmunds.com\/\" target=\"_blank\" rel=\"noopener\">Edmunds.com<\/a>, <a href=\"https:\/\/www.kbb.com\/\" target=\"_blank\" rel=\"noopener\">Kelley Blue Book<\/a>, or NADA, the <a href=\"https:\/\/www.nada.org\/\" target=\"_blank\" rel=\"noopener\">National Automobile Dealers Association<\/a>.<\/li>\n<li>Information about incentives, rebates or special financing deals.<\/li>\n<li>Proof of insurance and a check for your down payment (aim for 20% for a new car, 10% for a used car).<\/li>\n<li>If you\u2019re trading in: the car\u2019s title or loan documents and extra keys.<\/li>\n<li>A snack and water in case the deal takes a long time.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"arriving-at-the-dealership\"><\/span>Arriving at the Dealership<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A salesperson will greet you and urge you to take a test drive. Afterward, be ready for increased pressure to begin negotiations.<\/p>\n<ul>\n<li>Evaluate the car, but also the salesperson.<\/li>\n<li>Is the salesperson: Listening to your needs? Knowledgeable? Relaxed, yet efficient?<\/li>\n<li>If asked, don\u2019t consent to a credit check before the test drive. Say you\u2019re already preapproved for a loan.<\/li>\n<li>Avoid naming the monthly payment you want. Just say, \u201cI\u2019m a cash buyer.\u201d<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"on-the-test-drive\"><\/span>On the Test Drive<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The test drive will provide the sensory information you need to decide if this is the right car for you. Don\u2019t rush this step, and don\u2019t let the salesperson distract you with a chatty sales pitch.<\/p>\n<ul>\n<li>Tell the salesperson you need to test drive for at least 15 minutes.<\/li>\n<li>Drive a route that includes tight corners, hills, rough pavement and highway.<\/li>\n<li>Turn off the radio and pay attention to acceleration, braking, visibility and seat comfort.<\/li>\n<li>Check the cargo area and backseat legroom.<\/li>\n<li>If you don\u2019t like your salesperson, ask to see a sales manager or just leave.<\/li>\n<li>If you\u2019re still undecided about the car, don\u2019t be pressured into buying it.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"negotiating-the-price\"><\/span>Negotiating the Price<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you like the car and are comfortable with your salesperson, it\u2019s time to make a deal in the sales office. Try to remain unemotional and be ready to leave if you feel pressured or the pricing doesn\u2019t line up with your research.<\/p>\n<ul>\n<li>Ask the salesperson to name a price instead of responding to the common: \u201cMake me an offer!\u201d<\/li>\n<li>Compare the dealership\u2019s price to your numbers from Edmunds, Kelley Blue Book, or NADA.<\/li>\n<li>Make a counteroffer of $1000 below the true market price.<\/li>\n<li>You can say: \u201cMy research shows the market price is&#8230;\u201d Or, \u201cI\u2019ve gotten offers from other dealerships that are lower.\u201d<\/li>\n<li>If necessary, increase your offer by $250 increments until you reach the true market price.<\/li>\n<li>If the salesperson says, \u201cI\u2019ll take this to my boss,\u201d tell them your time is limited.<\/li>\n<li>If there\u2019s too much back-and-forth, ask to speak directly to the sales manager.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"closing-the-deal\"><\/span>Closing the Deal<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Before you say \u201cyes,\u201d there are a few questions you should ask to make sure you know what you\u2019re agreeing to.<\/p>\n<ul>\n<li>Ask for an \u201cout the door\u201d price and a breakdown of fees.<\/li>\n<li>Question the fees (except for the sales tax, documentation fee, and registration costs).<\/li>\n<li>Ask the dealer to remove any unwanted dealer-installed options such as alarms.<\/li>\n<li>Use your cell phone to take a picture of the deal sheet to use in the next step.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"in-the-finance-office\"><\/span>In the Finance Office<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>You\u2019re not done yet! You\u2019ll now be handed off to the finance and insurance manager, who will pitch warranties and extras. Verify that the terms you reached with the salesperson are in your contract.<\/p>\n<ul>\n<li>Say no to extras you probably don\u2019t want such as fabric and paint protection.<\/li>\n<li>Deflect the <a href=\"https:\/\/www.getrichslowly.org\/if-youre-going-to-buy-a-warranty-shop-around\/\">extended warranty<\/a> pitch by saying, \u201cI\u2019ll probably trade in my car before it\u2019s out of the included factory warranty.\u201d<\/li>\n<li>If the finance manager offers to beat your preapproved loan rate, fill out a credit application.<\/li>\n<li>To easily compare loan offers, keep the down payment and loan length the same.<\/li>\n<li>Make sure <a class=\"nw-link\" href=\"https:\/\/www.nerdwallet.com\/blog\/loans\/auto-loans\/review-auto-loan-agreement\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly&amp;utm_content=620502\" target=\"_self\" rel=\"nofollow noopener noreferrer\" data-nw-component-type-name=\"Link\" data-nw-component-type-slug=\"nw_link\" data-nw-track-click=\"1\" data-nw-track-impression=\"1\">the numbers in the sales contract<\/a> match the agreed-upon price.<\/li>\n<li>Review the prices in all the boxes and question anything unexpected.<\/li>\n<li>If anything is missing from the car or it needs repairs, get it in writing.<\/li>\n<li>If everything looks good, sign and get your keys!<\/li>\n<\/ul>\n<p><em>Woohoo \u2014 you did it!<\/em><\/p>\n<ul>\n<li><a class=\"nw-link\" title=\"Why \u2014 and How \u2014 to Get Preapproved for a Car Loan\" href=\"https:\/\/www.nerdwallet.com\/blog\/loans\/advantages-of-getting-pre-approved-for-a-car-loan\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly&amp;utm_content=620502\" target=\"_self\" rel=\"nofollow noopener noreferrer\" data-nw-component-type-name=\"Link\" data-nw-component-type-slug=\"nw_link\" data-nw-track-click=\"1\" data-nw-track-impression=\"1\">Why to get preapproved for a car loan<\/a><\/li>\n<li><a class=\"nw-link\" title=\"How to Negotiate to Buy a Car\" href=\"https:\/\/www.nerdwallet.com\/blog\/loans\/negotiating-basics-buying-car\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly&amp;utm_content=620502\" target=\"_self\" rel=\"nofollow noopener noreferrer\" data-nw-component-type-name=\"Link\" data-nw-component-type-slug=\"nw_link\" data-nw-track-click=\"1\" data-nw-track-impression=\"1\">How to negotiate to buy a car<\/a><\/li>\n<li><a class=\"nw-link\" title=\"How to Trade in Your Car When You Owe Money on It\" href=\"https:\/\/www.nerdwallet.com\/blog\/loans\/auto-loans\/trade-in-car-when-you-owe-money\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly&amp;utm_content=620502\" target=\"_self\" rel=\"nofollow noopener noreferrer\" data-nw-component-type-name=\"Link\" data-nw-component-type-slug=\"nw_link\" data-nw-track-click=\"1\" data-nw-track-impression=\"1\">How to trade in a car when you owe money on it<\/a><\/li>\n<\/ul>\n<p>The article <em>Don&#8217;t Buy a Car Without This Cheat Sheet<\/em> originally appeared on NerdWallet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><a href=\"https:\/\/www.nerdwallet.com\/blog\/2019\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright\" title=\"This article originally appeared on NerdWallet\" src=\"https:\/\/www.getrichslowly.org\/wp-content\/uploads\/nerdwallet.jpg&quot;\" alt=\"This article originally appeared on NerdWallet\" width=\"300\" height=\"67\"\/><\/a>Congratulations \u2014 <a href=\"https:\/\/www.getrichslowly.org\/new-car-plan\/\">you\u2019re about to snag a new ride<\/a>! We\u2019re assuming that you\u2019ve already done some research: You know how much you can afford to spend, which car you want to buy, and the true market value (what other people are paying) for that car in your area.<\/p>\n<p>And now you\u2019re ready to buy. Follow these steps to get a good deal and make the car-buying process at the dealership as painless as possible. To help make it easier, <a class=\"nw-link\" href=\"https:\/\/www.nerdwallet.com\/assets\/blog\/wp-content\/uploads\/2019\/03\/FINAL_Your_Car_Buying_Cheat_Sheet_FINAL.pdf?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=rss&amp;utm_term=get-rich-slowly&amp;utm_content=620502\" target=\"_self\" rel=\"nofollow noopener noreferrer\" data-nw-component-type-name=\"Link\" data-nw-component-type-slug=\"nw_link\" data-nw-track-click=\"1\" data-nw-track-impression=\"1\">download our cheat sheet<\/a> and take it with you.<\/p>\n<div style=\"width: 791px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" title=\"At the dealership, evaluate the car and the salesperson. (Photo from Getty Images.)\" src=\"https:\/\/www.getrichslowly.org\/wp-content\/uploads\/GettyImages-1000031132-2.jpg\" alt=\"At the dealership, evaluate the car and the salesperson. (Photo from Getty Images.)\" width=\"781\"\/><\/p>\n<p cl \n\n","protected":false},"author":3423,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[486],"acf":[],"_links":{"self":[{"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/posts\/237278"}],"collection":[{"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/users\/3423"}],"replies":[{"embeddable":true,"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/comments?post=237278"}],"version-history":[{"count":0,"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/posts\/237278\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/media?parent=237278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/categories?post=237278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}