Saturday, 24 December 2011

6 Worst Things You Can Do When Getting An Auto Loan For Bad Credit

By Crystal Powers


Here are 6 of the worst things consumers can do when shopping for new cars.

Purchasing the wrong auto. As mentioned earlier it's important to meet your needs and not your wants. Choose a car that would fit your budget and lifestyle. If you have to drive a great distance daily, then you should get a car that gets more mileage or one that is comfortable for long travel. If you've got kids, then a sports car might not be the one for you.

Let the car dealer see your emotions. Emotions cloud our judgment and the dealers know it. When dealers see people staring dreamily at a car, they would take advantage of the situation. Once they get that you really like the car, you won't have an easy time negotiating the price or the terms. You'll also be more likely to accept a bad deal if your emotional. In most states they have a three day "cooling off" period where you can take the car back if you want too. (This is the reason.)

Picking a dealer by a limited location: Not all dealers are the same. Dealers have a Customer Satisfaction Index (CSI). Different dealers have different indexes, and this is a good indication of what kind of service you'll get from them. You may also go to the Better Business Bureau to check if there have been any complaints filed against the dealer.

Talking about your possible trade in too soon: You should not talk about your trade in until the final price has been established. Dealers just love it when they find out early that you plan to trade in your current car, which won't be good news for you. If you want to trade in your car, make sure it's clean so the dealer will see that you value the car. If you bring it in dirty then they will have the impression that you do not value your car and want to reduce the trade in value.

Being unprepared. If you are not mentally prepared for the negotiating process, then consider an auto brokering service which can give its members special pricing through authorized dealers. This would eliminate the stress of the negotiation process.

Thinking that the deal is done. There may be many additional charges like dealer preparation fees, undercarriage treatments, delivery charges, and so on. Just make sure that you have all the needed information before you make the final deal.




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