Buying a car
Know strategies for getting the best deal on a car
ResearchArrange your financing before Best Time to Buy Other
Know the disadvantages of leasing, buying new, and buying used cars
Disadvantages -Paying extra for the luxury -You don't own anything -You cannot often not exceed x amount of miles per year (generally 12,00 to 15,00 miles per year, then about 12 cents for each extra mile driven) -Your credit has to be top notch -You cannot customize your car -The car's residual value is often lower at the end so higher monthly payments then a lower buy-out option at the end of your lease.
PRIVATE PARTY
This is by definition the price a vehicle commands when sold by an individual or an independent used car dealer. The value is less than the retail value since the vehicle has not been reconditioned.
RETAIL
This is what a dealer asks for a vehicle that's been reconditioned. The asking price has a margin of profit built in it and it's the most this vehicle is worth.
TRADE-IN-
This is what you should expect to receive for your vehicle if you decide to sell it to a dealer. A trade-in allowance is a fictional amount, usually greater than trade-in and reflects a shifting of the discount from the car being purchased to the trade.
Specifically how Edmunds, Autotrader, and CARFAX can help you.
-Uncovers potential odometer funds -Helps you to learn estimated number of owners -Tells you where this vehicle has been registered -Tells you how this vehicle was used -Informs you of any past accidents -Informs you on cross-border activity -Tells you all information on maintenance history -Does inspections -Provides so many services -Gives necessary information to buying used car -Makes sure it meets your needs -Photos -Editor's Review -Car comparisons -Weak spots
Know the advantages of buying new, and buying used cars
Advantages -Not worrying about maintenance -No ownership -Get luxury: brand new car, business deductions -Less commitment -Lower monthly payment USED CARS ADVANTAGES Minimizing depreciation Reducing insurance costs Reducing registration fees Getting more for your money
