What to Expect When Buying a Car

Buying a car can be an intimidating experience for some consumers. The fear of being swindled by an evil car salesman looms large in some minds and can serve as a buying roadblock. With proper preparation, car buying can be an enjoyable experience that builds a relationship with a dealership and a sales agent. Knowing what to expect from the car buying experience reduces buying anxiety.

Your Credit Will Be Checked

Expect to have your credit score checked along with your credit report which details all your outstanding loans and history of payments made to creditors. There's no way around this unless you're paying cash for your car. The trick here is to only allow a car dealership to check your credit rating when you are prepared to buy a vehicle the same day. Your credit score can be harmed by multiple inquiries in a short period of time, so it's important to only give this information out when you're serious about purchasing a vehicle.

Trade-Ins Aren't Worth Much

A large portion of car buyers with a trade-in believe the vehicle to be worth more than it actually is. This is because buyers place a great deal of sentimental value in the vehicle which serves to inflate the price in the mind. Be prepared to have the sales agent of finance manager come back with a trade-in value lower than expected. If you believe the offer is too low, you can always go to another dealership and try your luck there.

The Death of the Haggle

Car dealers are largely restricted on the sticker price of a new car. The notion that you can sit down with a sales agent and negotiate a bare bones price for a new car is largely a myth -- once the auto maker sets the price, it's a done deal. There may be some wiggle room in fees associated with licensing the vehicle, but the value of the new car is fixed. Used cars, however, are another story. A dealership stands to make more profit from a used car over a new one, and you may be able to use that profit margin to your advantage in negotiating a sale.

Expect Questions

A good sales agent is going to ask you questions regarding your needs in an automobile and the amount you're looking to spend. This helps him narrow the search field of cars he has available in his stock. Being prepared with answers to these questions can speed along the car buying process as well as maximize the chances you're going to get the best car for your needs and budget.