5 Myths about buying a new Car

There are some things you need to know before you head out to buy a new car. This is mainly because a lot of people assume somethings that aren’t true or are no longer true. Times have changed and so have car buying. Rest assured that something that you thought may stress you out can be a less stressful experience than you imagine.

Below, I’m sharing 5 myths about buying a new car. Hopefully, this helps calm your nerves about jumping into this new experience and send you to the dealership nerve free.

It is better to bring your own financing.

Bringing your own financing means that the deal is the same as paying cash to the dealership. Manufacturers can run highly discounted interest rates in order to help sell cars. These can be significantly lower than what a bank or credit union will offer. So, having the dealership check for financing isn’t a terrible idea. You might get a better deal.

You should wait until the end of the month to buy your car

If a dealership is a few cars away from a manufacturer’s sales target and you buy something they have in stock, they may be more likely to accept a lower offer than normal. However, if they have already hit their target or there is no target, the deal you could get on the 31^st will be no different then the one you would get on the 1^st.

Special ordering your car will cost more money

Special ordering can actually save you a good amount of money on many vehicles, especially European vehicles that can be configured in many different ways. If you can wait a couple weeks for your new car, special order what you want. I mean who wouldn’t get exactly what they want?

You need to buy now or the deal will go away.

Unless the car you’ve found is in limited supply, the odds are good that you’ll be able to get a similar deal the next week or even the next month.  The form in which it comes might be different (a lower interest rate instead of a rebate), but the overall amount you’ll pay for the vehicle will be roughly the same.

Paying cash will get you a better price.

Playing cash isn’t always the best option when buying a new car. The dealership can make more money when you lease or finance, and is, therefore, less motivated to further discount the price on a cash deal. Their job is to make money while selling you a car.