- 1). Decide whether you want a new car or a used car. This makes a difference in how much you can negotiate and what kind of deal you can get.
- 2). Don't look just at the monthly payments. When buying a car, you will probably have to get financing. The car dealership, as well as financial institutions, can offer financing. Pay attention to how much you would have to pay a month, and the length of the loan. Lower monthly payments don't necessarily mean a better deal if you're paying for twice as long.
- 3). Pay attention to interest rates. The loan for your new or used car will have an interest rate. This means you will have paid more than the settled-on price by the time you've made all of your payments. Figure out exactly how much you will be paying for the car, including interest, to fairly compare the different deals.
- 4). Try putting more money down. If you put more money down, some dealerships or financial institutions might offer you better loan terms, such as lower interest rates or smaller monthly payments. Find out what kind of deal you can get if you can afford to put more money down.
- 5). Inspect the car carefully. Part of the car deal is the actual vehicle that you're getting. An expensive bu reliable car is better than a cheap junker that's going to continue to break down, costing you more money and hassle. If you're not car-savvy, ask a friend who is to check out the car. or take it to your regular auto repair shop.
- 6). Find out the actual value of the car. If the price is for way more than the value of the vehicle, it's not a good deal. Some sources for finding out a car's value include Kelley Blue Book and Edmunds.com.
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