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4 min read Published October 13, 2022
Written by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the ways and pitfalls of taking out loans to buy the car they want.
The edit was done by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since late 2021. They are passionate about helping readers feel confident to manage their finances with precise, well-studied information that breaks down otherwise complex topics into digestible chunks.
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The most important thing to leave the dealership happy with your purchase is to learn the appropriate questions to ask. In order to protect your wallet and your needs, you must be prepared with hard questions, and be prepared to leave in the event that you don’t receive satisfactory answers. Otherwise, you won’t get the best deal when buying a vehicle. Questions you should ask all dealers, whether you choose to purchase a brand new or used, here are three general questions to ask the dealer before going to meet them for a handshake. Do I have the opportunity to test drive the vehicle? It’s difficult to tell whether a car is a good fit unless you adjust the seat and get a feeling for the handling capabilities. Pay special attention to the feel of the brakes and see if the vehicle able to meet your requirements and daily routines. If you’re able to, ask if you can bring it into your garage, or in a parking spot to see if it fits the way you want it to. Some dealerships may even permit you to keep the vehicle for a night to check it out on your day-to-day routine. What warranty is on the vehicle, if any? Warranty covers certain damages caused by the vehicle and wear and wear and. For new cars, manufacturer warranties cover more serious issues however you’ll have to pay for regular maintenance. Certain used vehicles could still come with their original warranty or a new warranty if you choose to purchase certified pre-owned (CPO). If a warranty is in place, you can save quite a bit on future repairs, depending on how extensive it is. And even if there’s not, you could see if an extended warranty or gap insurance is an option. However, these are expensive and are often not needed, so consider your needs carefully prior to asking a salesperson for it. What are additional charges associated with purchasing this vehicle? Whichever vehicle you decide to purchase it is important to be ready to pay additional fees. The state you live in may require title transfer fees as well as other fees that are not negotiable. The dealership could also charge some set fees that you must pay. While it might be tempting to just pay these fees — and sales tax in your loan Avoid it if you can. In the end, you must not take out more loans than your vehicle is worth. Taxes and fees must be paid in cash, if you can. When buying a new car The new automotive market is thriving, and prices remain at an all-time high. So, even if you consider yourself a veteran in this area, there are a few key points to cover to ensure that you get the best deal. Make sure the dealer can answer these questions prior to making a decision . What are the current conditions for financing? Find out the terms offered by outside lenders. It is likely that if you have good or excellent credit, you will be able to get a better deal through a bank, credit union or an online lender. Make sure you compare prequalification offers to what the seller offers. Are there any available rebates or incentives? In some instances, you will qualify to receive a rebate or incentive when you purchase a brand new car. This benefit generally lowers the price of the purchase after taxes.These vary from discounts offered during certain times of the year to deals for specific groups, like veterans or students. How much will the documentation fee be for this vehicle? The documentation fee, also known as “doc fee” is the cost that dealers charge to cover the cost of concluding the sale contract on your behalf. Contrary to some of the fees associated with the purchase of a new vehicle, the documentation fee cannot be negotiated. Certain states have a limit on how much dealers can charge. However, if you reside in a state where there isn’t set a limit, you could be charged up to $600 . Questions to ask when buying a used car Despite the price hikes on used vehicles due to shortages of inventory The purchase of used cars comes with its perks. But, it could be more risky when you aren’t aware of the history of the vehicle. If you intend to ask a few questions, you should ask to ensure that you are getting a vehicle in good condition. Has this vehicle been in any accidents? There aren’t any accidents that can be found in a report. Therefore, you must ask outright if your potential car has been involved in any accidents and how it was later repaired. Ask about how long ago the accident was, and if there were any repairs after the accident. How many owners has the car been through? Ideally, you want an old car with at least one or two satisfied owners instead of a vehicle which was given to a variety of drivers. A car with a long ownership history can be an indicator that the vehicle has some unresolved issues. It is also important to inquire about which dealer purchased the car. A trade-in might not have the full history , but an earlier rental has been regularly serviced — when it was driven more than a privately owned vehicle. Do I need to have the vehicle checked through my service technician? A request for an inspection is a great final step in your questioning process but be sure to only inquire if you are certain you’d like to purchase the car pending the inspection results. It can aid in determining the dealer’s confidence in the vehicle and having an independent set of eyes to check the vehicle will assure you that you’re getting what you are paying for. The bottom line Aside from doing your research on the kind of car you want and shopping around to get the best price on financing, it’s important to be aware of the questions you should ask prior to going to the dealership. Arrive at the dealership with a specific plan and a list of the best inquiries to make. Also, you’ll have the knowledge needed in order to take an informed decision, whether it’s signing on the contract or deciding to walk away to search for an alternative that is more affordable. Find out more
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Authored by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers in navigating the ins and outs of securely borrowing money to purchase the car they want.
The edit was done by Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate since late 2021. They are dedicated to helping readers gain the confidence to take control of their finances through providing precise, well-studied information that breaks down complex topics into manageable bites.
Auto loans editor
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