SALT LAKE CITY — Buying a car is a big undertaking, and with so many choices, it may be easy to get flustered and sign on the dotted line before you are ready.
There are a few things you can do before stepping onto the car lot to save you some stress and money. First, research the car independently and know what you are looking for. Make a list of items you want in the car and a list of things that are negotiable, that may lower the price.
Then look for auto manufacturers' rebates and discounts, and make sure the dealership will honor those. Know what your down payment will be and also your budget-- tell yourself beforehand that you will not get talked into a more expensive car that will strain your finances.
According to Dave Nellis from America First Credit Union, knowing and securing an auto loan rate yourself could save you from being pushed into something that may not be the best offer. "Shop around. You want to look; I think shopping around and comparing rates is important," Nellis explained. "Check with the auto dealers, check with banks, check with credit unions, check with other online lenders, and see what those best rates are."
There are a lot of options when it comes to auto loans. Be wary if a dealership tries to push you toward one specific loan agency because they may be getting a kickback, and it may not be the best rate available for you. That's why putting in the work ahead of time could help you save smarter.
Another big thing Consumer Reports tells people is to be aware of the add-on features dealerships often try to upsell you on-- rubber floor mats, window tinting, fabric scotch guards. Those items can often be found cheaper through independent vendors not associated with the dealership.
