Advanced Auto Shopping

              

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Money Saving Minute #037 Advanced Auto Shopping 

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After writing this blog we realized that we may be portraying auto dealerships in a negative light.  This was not our intention.  Profit is not a dirty word however how much profit a dealership makes is up to you.

Money Saving Minute #037
Advanced Auto Shopping

Most people are educated in Auto Shopping 101…shop and compare online, email or call and ask for the lowest price, negotiate the trade separately, always negotiate price not payment…basically do your homework.  The advanced shopper, however, knows that the negotiation does not end with the price of the car.

Once you have a price next comes the Finance Manager.  This person’s job is to present you with financing options, warranty options and vehicle protection options.  If you have not done your homework you will not know if they are offering you the best value.  In regard to interest rate, take the time to talk with your bank.  Find out what interest rate that you would qualify for based on your credit score and the vehicle that you are interested in.  If you have little to no down payment then you will be offered GAP insurance.  This insurance covers the difference between what you owe on a vehicle and what the value of that vehicle is should the vehicle be totaled prior to being paid off.  For this you will want to check with your auto insurance agent prior to visiting the dealership so that you have a number to work with.     The F&I manage will present warranty options as well.  Again, do your homework.  Look online for options and email dealerships for quotes.     You will also be offered paint protection or windows etch theft recovery.  Talk to a trusted detailer or body shop about their cost on these items if you are interested so that you have a quote to work with.  Remember, however, that lowest price does not always equate to best value.  Be prudent but most of all be educated.