KBB says first establish a realistic budget, gives tips to car buyers
The Kelley Blue Book, which is headquartered in Irvine, California, is the United States' largest automotive vehicle valuation company. The company is an amazing source for new and used vehicle pricing and information. However, the company does much more than that. It also offers other services such as giving valuable information to auto shoppers, sends out warning of fraud and shares tips on many aspects of the car buying experience, including a top ten list of suggestions to which first time car buyers should pay attention.
Expert editors have provided the following advice to help shoppers make the best purchasing decisions for themselves and for their families. Tips include what, how and where to buy either a new or used car.
The car buying experience should always be a happy and exciting one for anyone, including veteran car buyer as well as first time car buyers. Buying a car is one of the biggest purchases a person will make in his or her lifetime and it should be a positive experience. Unfortunately, it does not always work out that way, and that is where Kelley Blue Book is attempting to come in and try to help shoppers avoid negative experiences. Read on for the best kept secrets for a more pleasurable car buying experience.
Kelley Blue Book editors suggest that first time car buyers establish a realistic budget before even walking into a dealership. Often car salespeople will attempt to push a customer into spending more than they originally intended to spend; hence pushing them out of their budget range and into financial trouble. Figure out what you can afford per month and do not go any higher than that number.
Know what you can spend monthly. If you choose to finance your car, figure $25/month for every thousand dollars that you borrow for 48 months, and $20/month for 60-month financing.
Establish your transportation needs so that you can choose a vehicle that is most practical for you, your family and your lifestyle. For instance, this will determine whether or not you need a larger or smaller car. If you identify and prioritize your wants, you will be in a much smarter and well informed position to pick the car that best fits for you, will make you happy and keep you from experiencing buyer’s remorse – a feeling that no one enjoys.
Make sure to do your research when looking for the car that is right for you. With the Internet in today’s world, this task has become quite easy. Therefore, there really isn't any excuse to not make yourself into a well-informed and educated consumer. If you don’t own a computer, you can use one at your local library.
Find a convenient dealer and do not allow anyone there to make you feel intimidated or pressured into buying. Always ask your salesperson to take a test drive of the car. Often, what you think looks pretty on the outside and makes you want to buy it, will not feel comfortable on the inside when you are sitting in it or driving it. Know your product inside and out before you buy it.
As an educated consumer, know the proper purchase price of the car you’re interested in buying. Know how to secure your financing and know your options. Don’t allow a salesperson to leave you with questions when buying a car from them. They may use jargon you do not understand. Ask them to explain exactly what they mean without feeling guilty about it. Know what you’re paying down to the penny.
Lastly, try to enjoy the car buying process. It may take hours, it may get tiring, it may be tedious at times; however, do your best to have a good experience. Afterall, it’s a large purchase and one you will be keeping, most likely, for many years.
Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book's kbb.com made this statement in a press release: "The car-buying process is never filled with as much uncertainty as it is for the first time. With this advice in mind, Kelley Blue Book hopes to alleviate some of the stress inherent with such a large financial decision."