How to buy a new car without getting ripped off

Buying a used car can be tricky as there are several dealers in the market who sell used cars at a very high price while the quality of the car is not in a quite good condition.

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There are a few points to be kept in mind before buying a used car so that you don’t get ripped off and they are:

1. Set a Budget
Setting a budget means not only for buying the car but also you need to think whether you will be able to carry out its monthly expenditure after purchasing the car.

2. You need to decide first what type of car will you like to own
Here what type means whether you would like to own a used car or would like to own a brand new car, whether you would like to lease out or take a loan for purchasing the car? There are several options to choose from. You can opt for a used cars then the interest rate and warranty time will be less whereas for the same amount of money if you buy a new car the features will be much less but you will get full warranty and a lower rate of interest to repay back.

3. You should narrow down your choices
Take time to do this homework. First, make a list of all the cars which you liked and are also within your budget. Then research about all of them in the internet and then see which car will cost 5% less than the others. By limiting your choices you will not waste money or else if you have a different range of choices you are bound to invest more and most likely to regret later.

4. Try to assess if they fit your budget
Keep a check that the cars which you have shortlisted does not land up make you spend on a monthly basis a hefty amount.

5. Check the financing first before you go to the dealer
You need to go to the financer who will sponsor you loan first before you go to the dealer. The dealer does help you in getting the loan but they will be getting an amount for that. If you want to spend less then first secure the financer then go to the dealer.

6. Do negotiate
You need to negotiate with the price whether it is new car or used car. In the new car case also the dealer keeps a profit and so does the dealer who is selling the used car to you

7. Keep an eye for discounts
Often there are discounts given for some festival or similar things like that. Keep an eye for such things then you will be able to get the car at a comparatively cheaper rate.

8. Do not rush for test driving
Often we are tempted to test drive the cars and then take decisions. We tend to overlook many things after test driving. So first consider the above points and when you have mentally zeroed down which car you want then consider test driving before investing.

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