Easy Auto Loans

Wednesday, November 08, 2006

The Financial Smart Way To Buy A Vehicle

Believe it or not, it is a skill to buy the right vehicle, at a good or better price than what a particular vehicle is sold for in the market.

Before you do anything else, apply for a bank loan to purchase a new vehicle, find out what is your maximum loan amount your bank or any lender is willing to lend you. Once you know how much your loan approval is, then you are ready to start looking for the car you want.
Decide on the vehicle you will truly be happy or at the least very satisfied with, so that the car notes will not feel painful. This is very important.

Will your next vehicle be a truck, a car, a SUV? Whichever type of vehicle you prefer start comparing different makes and models and get a general idea of what they are worth in the market. One easy way to do this is by visiting the Kelly Blue Book online at: kbb.com Here you can check what the MSRP value (Manufacturer's Suggested Retail Price, is the price set by the manufacturer) of a new or pre-owned vehicle is.

Once you have a check from your lender, that check will be good as cash at the dealership. This will give you buying and negotiation power. You will be able to get the best possible cash on a vehicle you really like.

As you shop around do not let car salesmen intimidate you, remember, you have done your home work, you have researched the market value for the car you want, you know a fair price down to the miles of it. Now you have a check in hand and can negotiate a cash deal. Make cash offers and see what reactions you get from salesmen.

In fact, that's how I got my dream car. First, I got my check from my lender with a limit on it, but enough to buy the car I wanted. I also knew that the best cash deal I would get on the car I wanted, the smaller my car notes were going to be. So, I set out to look around for all dealers for the car I wanted. I ran across several salesmen, that I thought to myself, "how do they survive? Anyway, by the 4th week of searching and making offers, I had plenty of information to make a sound decision.

I picked a few salesmen from different dealers I felt I could do business with and made my cash offer at 25% less than the market value, two of them, were willing to lower the price at 10% less, and the last one called me back and asked if he accepted my offer, would I go on the same day and buy it cash? I said yes! Guess what? it turned out to be the best cash deal ever for me because the vehicle's mileage was set in metric not in English so instead of 28K miles, the vehicle was under 18K miles!

So once you are down to a few dealers where you will buy your car from, go to each, or call each of them on the phone, work with the ones that have a decent sense of customer service and who are willing to work with you, and via telephone make a cash offer for one of the vehicle you are looking for. For instance, you have researched a vehicle that easily sells for $15K or $16K with less than 30K miles. Offer $12K cash and gauge each of their reactions and see what happens. It's not for nothing that Cash still the reigning king!

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Copyright 2006 David Pineda is an ezine article writer. For further information on how to obtain an easy auto loan online visit: http://www.easy-auto-loan.net/