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How To Get The Best Value When Buying Your New Car

by Amy Walters

Buying a new car is one of the best experiences of your life. However, you have to make sure that you are getting the best value for your money. If you are shopping for a new car, how do you know that you are not spending too much for it?

Negotiate The Price Of The Car First

Whenever you are making a deal on a new car, you want to start by negotiating the price of the car itself. This is because the monthly payment does not reflect how much the car is actually worth. Negotiating a lower car payment for yourself doesn’t mean that you are actually saving any money.

Get The Lowest Possible Interest Rate

The interest rate that you have to pay will also influence the amount that you will pay over the course of your car loan. The good news is that car dealers in New Jersey will do whatever they can to help you get financed at the lowest possible interest rate. However, to help yourself get the best possible deal, check your credit before you go shopping. Those who have good credit are entitled to lower interest rates on an auto loan.

Put Down As Much As Possible

Making a significant down payment reduces the amount of money that you need to borrow. This increases your equity in the car while also lowering your interest rate. Additionally, putting money down may ease the sting of depreciation that occurs when you drive a new car off of the lot. If you put money down, you may not be underwater on your loan the second you drive it home.

Stay Away From Extra Features

Ford dealers in NJ may want you to pay for extras such as VIN etching, gap insurance and other features that you do not need. All these extras do is add extra profit to the sale. Therefore, don’t even bother adding these features even if you get them for free. When it comes to purchasing a car, there is no such thing as a free upgrade or extra feature.

Purchasing a vehicle is something that you have to do with caution. You can’t rush into a deal because the dealership will take advantage of you if you do. As long as your negotiate the price of the car first, the interest rate second and your down payment last, you will get the best deal on any new car that you buy.

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