First Time New Car Purchase...Any Tips?

[NastyEllEssWon]

So I've been saving for a long ass time to buy a brand new car and since it looks like we wont be getting any really bad weather this year, Im gonna start going around to dealerships to take a look at the offerings. I was just wondering if there any surprise hooks or dealer tricks that I should be aware of buried in the paperwork. Ive never had payments or financed a vehicle in my life...its always been handled with cash.

If you also know good dealerships to deal with, I'm open to hear about that. Looking to stick with GM/Ford/Dodge.

[deadtrend1]

Buy Gap insurance. Buy a warranty to cover the length of your loan.

[Blackbirdws6]

Are you trading anything in? Never tell them what you are comfortable paying per month. They will try and pitch other items when you go to sign the final financing paperwork. Don't be afraid to walk away if you are uncomfortable.

[The_Bishop]

*Don't* get gap insurance through the dealer. Try not to finance through them, either - Line up financing and GAP elsewhere. Most times, you can get a better deal. Know what rebates are available and make sure you're getting them. Also don't be afraid to deal, the worst that can happen is they say 'no'.

Don't get suckered into talking about monthly payments. Work on the total price of the car first.

[NJ Torque]

end of the month deals are the best.

[NastyEllEssWon]

Are you trading anything in? Never tell them what you are comfortable paying per month. They will try and pitch other items when you go to sign the final financing paperwork. Don't be afraid to walk away if you are uncomfortable.

The walking away part I have covered already :D Trading in anything, no. I do have about 30 grand in the bank to work with. Pretty interested in a new Corvette or even a Hellcat Charger if I can find one, but Im trying to not go over 55 overall. Im actually considering taking a look at the newer mustangs too. Just want to make sure I dont fall into a rookie mistake or being suckered into something stupid on the bottom end buried in the paper work.

[BonzoHansen]

make sure you get the undercoating

[1320B4U]

You may pay a premium on the h/c or new vette right now..to the tune of 5k over sticker +/-. Imo you should wait until the hype dies down on these cars (vette may be fine now though being its been out awhile). For a vette, Kerbeck is pretty good for deals I've heard. If your interested in a ford I know a good dealer that can't be beat..fellow 3rd gen owner whos a salesman. Pm me if you want the info.

[V]

make sure you get the undercoating

Speaking of that, the original owner of my GTA got the undercoating and the fabric anti-stain treatment... Now, the bottom of the car looks great and solid and the seats are in excellent shape... maybe it was worth it. haha.

[BigAls87Z28]

Like they said, get loan through your bank and drive them on price. Once you get a loan from the bank, you can walk in and talk pure price. I would call or shop on the internet as the internet sales people are not paid on commission but to drive business into the store. Get the best deal over the phone or online and then walk in with the numbers.

[sweetbmxrider]

Fix up a tj or jk wrangler and trade that **** in!

[NastyEllEssWon]

Fix up a tj or jk wrangler and trade that **** in!


thats actually not a bad idea, lol jeep call signs baffle me though....are wranglers actually holding their value well enough to be worth the time?

[sweetbmxrider]

I've seen the price drop just a little in the used private market but dealers seem to still be giving them good trade in. There are projects out there that can be fixed up and flipped for profit, no doubt. 97-06 = tj 04-06 tj unlimited = lj (stretched rear tub) 07+ jk or jku (4 door)

[madness410]

try your best not to tell them your budget or what you are willing to pay monthly.

worst thing you can do is go in there emotionally attached to a car. apparently dealers can tell if you are emotionally attached or not. you have all the power in the world to say yes to a sale or no. the dealer has no power. the dealer makes money off of you. once they are aware that you know that then they start working with you.

[The_Bishop]

Also, if you're putting enough cash down you *don't* need gap insurance.

[Frosty]

make sure you get the undercoating

Most places don't do that anymore...nor is there a need. I don't know of any dealership around that will do it. I've had a few Camaro owners inquire about it...can't find anyone to do it(private shops).

Also, if you're putting enough cash down you *don't* need gap insurance.

this ^^^. Gap is only if you're going to be taking on a loan that is more than the car's value.

[Frosty]

...and to echo what others have said. Don't talk "payments", talk PRICE. The most classic thing a salesman will do is ask what you're comfortable with monthly payment wise....once they nail you to that they have you. You won't get the best deal if you talk only in monthly payments.

[greenformula92]

I've heard some really good things about flemington ford and I have had good experiences at lester glenn. Stay away from pine belt

[transampete]

Do you home work, research everything, if you find a stellar deal print out online ad and bring it with you to the dealership. Don't let anyone talk you into anything your not comfortable with. If you feel that you need a back seat I'd go with a Camaro personally otherwise I'd go with the Vette. Don't be afraid of low mileage trades or demos. Just make sure you're getting a good deal on one. Nothing wrong with someone else paying down the depreciation.

[jts98z28]

ive bought a few brand new cars and the main thing ive noticed is when they bring you the first payment option just say wow, sorry for wasting your time, we arent exactly in the same ball park, shake their hand get up and walk out. but you also have to be willing to legitimately leave and not come back, it does work well though, i had them take over $200/month off the one car i bought because they tend to try to hit a home run on their first attempt at selling you the car.
also i am a fan of GAP, god forbid you do total the car you have to worry about the car payment aaand the medical bills
and finally the obvious do your research, look up reviews on the dealership, and go in knowing what car you want as well as try to find out pretty much everything you can about the car before going
good luck and enjoy the new car whenever you get it man

[Frosty]

Nasty, if you end up wanting a Chevy message me, I'm not in sales but I have a very good relationship with the sales mangers and the general manager up front.

[NastyEllEssWon]

Do you home work, research everything, if you find a stellar deal print out online ad and bring it with you to the dealership. Don't let anyone talk you into anything your not comfortable with. If you feel that you need a back seat I'd go with a Camaro personally otherwise I'd go with the Vette. Don't be afraid of low mileage trades or demos. Just make sure you're getting a good deal on one. Nothing wrong with someone else paying down the depreciation.


Low mileage trades and demos are the reason I waited till this year to seriously start shopping. I couldve started last August but everything was still too new and buying a performance car right before winter didnt seem too smart, especially since I dont have a garage.

Frosty - I'll let you know dude, Im really liking the new vette but looking at options right now I can get a Base model Convertible Corvette or a well optioned Hard top, depends on which seems like the better deal...Ultimately I'd love to end up with a z51 Convertible...which there dont seem to be too many of so the pricing is kind of on the higher end. :nod:

also thanks for the help so far guys...things like gap insurance help out tremendously reading into it. the last thing id like is for my first new car purchase to tank me financially :D

[NJ Torque]

Look into credit unions... some have much better interest rates then ghe banks the dealer works with. some even offer free gap insurance with it too

[ws6 jim]

Low mileage trades and demos are the reason I waited till this year to seriously start shopping. I couldve started last August but everything was still too new and buying a performance car right before winter didnt seem too smart, especially since I dont have a garage.

Frosty - I'll let you know dude, Im really liking the new vette but looking at options right now I can get a Base model Convertible Corvette or a well optioned Hard top, depends on which seems like the better deal...Ultimately I'd love to end up with a z51 Convertible...which there dont seem to be too many of so the pricing is kind of on the higher end. :nod:

also thanks for the help so far guys...things like gap insurance help out tremendously reading into it. the last thing id like is for my first new car purchase to tank me financially :D

Jay good luck with your new car search.

You can't go wrong with a z51 it literally does everything I would want stock.

When I wanted to get mine I found a financial option that wouldn't be impactful to my bottom line. I used penfed credit union auto payment saver loan that I only pay the depreciation over 5 years at 2.49 % and combined with my card earnings and college discount for 10k off a car no one was discounting I have a car payment lower than my 5 th gen SS.


Just one alternative to consider and GAP is included with the option.

[The_Bishop]

What happens after the 5th year? Some sort of huge balloon payment? Might not seem so good, then.

[ws6 jim]

What happens after the 5th year? Some sort of huge balloon payment? Might not seem so good, then.

It allows flexibility and the best of a lease and finance. I can make a balloon payment, refinance the remainder, or trade it in anytime.

The C7 also has a very good residual that you can check by VIN.

[BonzoHansen]

Sounds like a rent to buy.

I've used capital one auto financing a few times. Pre approve with them, then you are more or less a cash buyer when you walk in. Last time though gm had great rates.

[greenformula92]

I've used capital one auto financing a few times. Pre approve with them, then you are more or less a cash buyer when you walk in. Last time though gm had great rates.

Don't you have to go to one of their preferred dealers when you use them though?

[NastyEllEssWon]

Sounds like a rent to buy.

I've used capital one auto financing a few times. Pre approve with them, then you are more or less a cash buyer when you walk in. Last time though gm had great rates.


yeah my credit isnt really the greatest so I dont know if theres going to be any pre-approval. honestly im just now in the black and absolved of all past debt. Im currently in the rebuilding process and one of the best ways to rebuild credit is to make a big purchase. Its good enough to get a loan, but not good enough to get the best of loans most likely.

Im going to check around at a few credit unions in the next week or so to see what kind of rates they offer since NJTorque mentioned to drive down that avenue, especially if they offer free Gap insurance programs...that would be killing two birds with one stone for me.

Anyone know about FORD/GM's policy on family/friend discounts? I remember back when I worked at Ford they had a pretty good policy but that was almost 8 years ago.

[Blackbirdws6]

Just my opinion but purchasing a $55k+ vehicle at a terrible interest rate isn't the best way to build credit.

[BonzoHansen]

^^what he said

Don't you have to go to one of their preferred dealers when you use them though?

i never had a problem, bought 3 cars using it.

[NastyEllEssWon]

Just my opinion but purchasing a $55k+ vehicle at a terrible interest rate isn't the best way to build credit.

lol well its not in shambles. its just not spotless. no matter what I've resolved that im not going to get an amazing interest rate on any car I buy, but im willing to do the legwork to make sure I can choose the best option available. I've saved up quite a bit so I can knock that 55k down to 25k before I even talk to a bank about a loan, which should make things a lot easier to handle.

I appreciate the advice though and I'll still check into that Capital One plan to see if thats an option though.