Do It In December
Wait and do it in December, every one of us at some point will probably buy a car or truck. Hence, if you plan on buying a new car the best time to do so is in the last part of December. This is the time of year is known as “The end of a model year”. Thus, the rush to liquidate last year’s models is in full swing. The savings is huge.
Cash For Cars Buys Trade-ins
If you’re handy, you may be able to navigate the world of DIY. But there’s a high likelihood that DIY should be DI-don’t. In the end, it might be wiser for you to take on an extra shift at work or sell something you own instead of diving into a home or auto repair world laden with hidden expenses and “just one more trip” to the local parts store. What’s the long-term cost of not buying?
There are so many “what ifs” tucked neatly inside this question that your answer will be speculation. But if you don’t fix that tricky transmission now, you could have a breakdown on the interstate when you need to be at a meeting in 10 minutes or at work – causing you to lose money and still need the repair.
Or back to our limb scenario. Sure, it’s expensive to remove it properly but it’s less expensive than replacing our roof – both in actual dollars and the inconvenience factor. Your time is valuable so the dollar-for-dollar estimation needs to take that into account.
These types of financial decisions are difficult for even the savviest of budgeters because of their unpredictable nature. But in the end, you shouldn’t put off to tomorrow what you really know needs done today. Whether it’s scheduling a doctor’s appointment for that nagging cough or scheduling household maintenance, ask yourself the necessary questions and make the call. The peace of mind (and lack of branches in your lap) will be worth its weight in gold.
Do It In December!!
Buying a car is one of the most stressful financial decisions you can make. Not only are cars expensive, but you also usually make this decision only once every few years, and you are facing off with someone who deals with car sales every single day. It’s no wonder so many people hate the idea of buying a car. Fortunately, with just a handful of tips and tricks, you can claim the upper hand in the negotiation. Here are a few car-buying hacks the salesperson at the showroom hopes you don’t know.
1. Force Dealers to Compete One of the most powerful negotiating strategies doesn’t even require traditional haggling. When you know what car you want, contact all the dealers within a 50-mile radius for a quote. With just a few emails you can get every dealer to compete against each other and you never even have to talk to anyone. Do it in December.
2. Bring Your Own Loan This may come as a huge shock, but you may not get the best loan at the car dealer. Interest rates tend to be lower at banks or credit unions, saving you more money. Thus, it’s best to get pre-approved before you set foot in a dealership. Even if you don’t have good credit, you should still shop around. Just because you have bad credit doesn’t mean you shouldn’t try and find the best car loan terms possible.
3. Skip the Add-Ons Dealers make a fortune on the add-ons, whether it’s the extended warranty or aftermarket rims. They’re all sold at a significant markup. If you’re buying a brand new car, it often comes with a very good manufacturer’s warranty. Buying an additional extended warranty on top of it might give you peace of mind, but you might never use it. Consumer Reports did a survey some years back and discovered that 55% of people who purchased an extended warranty never used it.
4. Do it in December, Ignore Any Sticker, Invoice, or Other Prices There’s a lot of debate about what price is accurate. Is it the invoice price (what the dealer paid for the car)? The sticker price (what the manufacturer recommends dealers sell it for)? Or some other calculation? Ignore all of the numbers. They’re mostly meaningless. Dealers get all kinds of compensation outside of the profits from the sale of the car. If they meet quotas or hit performance tiers, they’ll get a bonus. Some dealers will sell a car at the end of the month at a loss especially in December if it bumps them into the next tier because of what it means to their take-home pay.
5. Do it in December, Dealers, and manufacturers are looking to meet their annual sales goals, so many offer rich incentives. Lower prices on vehicles as next year’s models move onto the lot. Follow these steps to drive down the price of your new vehicle.
To do even better than the average do it in December, shop when temperatures plunge. Cold, snowy days draw fewer buyers, giving you a further advantage. End-of-day shopping can yield better prices, too, if a weary salesperson wants to go home. Also, because dealers and manufacturers have monthly as well as annual goals. Finally, ask for extra discounts. Many automakers give rebates to students, seniors, and the military, for example. These incentives are typically not promoted but can range from $300 to $1,500.
6. Cut borrowing costs do it in December. To trim the cost of your loan if you’re not paying cash, get a baseline quote from your bank or credit union and compare it to automaker financing. The latter is likely to be the better deal. Because car manufacturers want to be a one-stop shop, they offer aggressive interest rates.