The goal of our blogs is to educate customers about the entire car buying process, whether or not you use how2car to purchase your vehicle. We want customers to have the best research available and a solid understanding of what to expect before they begin working with a dealership. We will start with a high level… Continue reading A Car Buying PhD
Not anymore. How it works: for each car loan application you submit there will be a credit check or inquiry. Additionally, common practice is for dealerships to submit your credit information to multiple banks and for each bank there will be an inquiry. Dealers are trying to find the best possible deal when they do… Continue reading Will Multiple Loan Applications Ruin My Credit ?
Negotiating the best interest rate is just as important as negotiating for the lowest sales price of your new vehicle. Luckily for customers, it can be a much quicker and easier process. It is no secret that dealerships make money on loans by marking up the interest rate. You are going to want to protect… Continue reading How Do I get the Best Interest Rate on My New Car Loan?
There are numerous tips online for how to get the best deal for your trade. Some are good practices, some downright counter-productive. I wanted to talk about a few that I frequently see. Get a CarMax Appraisal: Always a good idea. If you do one thing to research your trade value this is it. CarMax… Continue reading Insider Thoughts on “Popular Trade Tips”
It is a commonly held belief that a private party will pay more for your trade than a dealership. In reality that depends on what type of car you have. I would say this, if your vehicle is worth less than $10000 and you have the energy to try and sell it on your own… Continue reading Where Will I Get the Most For My Vehicle? (The excellent, almost unknown tip!)
When you are negotiating the price of your trade, book values mean nothing to the dealership. You cannot sell your car to Kelley Blue Book or NADA, so the dealership will not take those values seriously. The best way to get some negotiating power on your side is to come prepared with real offers that… Continue reading Real Leverage in a Trade Negotiation
Rather than relying on published book values, dealerships use information from auctions and other dealerships to determine trade values. The difference between the dealership's offer and the book values of trades has been a massively frustrating issue for both shoppers and dealerships, and is a key reason customers distrust dealerships so much. In 2016 more than… Continue reading How Does the Dealer Determine Trade Value?