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SportTrac Discussion
General Sport Trac Discussion
Looking at getting my wife a 2013 Mistubishi Outlander GT. Thoughts, suggestions???
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<blockquote data-quote="Thomas Rogers" data-source="post: 997230" data-attributes="member: 60724"><p>One of the biggest mistakes car buyers make is fixating too much on the maximum monthly payment, and even worse, communicating to the dealer/finance firm what that maximum monthly payment is.</p><p></p><p></p><p></p><p>Sure, we all need to budget, and yes, we all need to know what that maximum monthly payment is, but it should be a "check" near the end of the car paying process, not a goal.</p><p></p><p></p><p></p><p>So what should you do?</p><p></p><p></p><p></p><p>1. Go to Edmunds.com or similar and find out what is a likely, rock-bottom price for the car you want to buy (at or around dealer invoice, or lower).</p><p></p><p></p><p></p><p>2. Secure your own financing for that amount, going to eLoans.com, Costco (if a member), your credit union, etc. Pick the right loan for you; 3 years, 5, etc.</p><p></p><p></p><p></p><p>3. If trading in, figure out the best you should likely be offered by the dealer on a trade, or if you want to go that route, be prepared to sell it yourself to a third-party for more, but only do that if you are willing to sell first, get cash in hand, wait a week or two for buyer remorse, and THEN buy your new car.</p><p></p><p></p><p></p><p>4. Take all of the above and when you have a car you want, phone the dealer and make an offer. If trading, tell them what you need in trade, tell them what you need for a price in the car, tell them if they want to finance what they need to beat as rates. If they offer rebates vs better finance deals, do the math and see which puts more money in your pocket at the end of the term.</p><p></p><p></p><p></p><p>Now, if you do all of the above (or even steps 1, 2, 3), you will know what the monthly payment will be. If the numbers don't work (you are at our below your monthly payment) when doing steps 1, 2 and 3, then they almost certainly won't work when the dealer makes you an offer.</p><p></p><p></p><p></p><p>TJR</p></blockquote><p></p>
[QUOTE="Thomas Rogers, post: 997230, member: 60724"] One of the biggest mistakes car buyers make is fixating too much on the maximum monthly payment, and even worse, communicating to the dealer/finance firm what that maximum monthly payment is. Sure, we all need to budget, and yes, we all need to know what that maximum monthly payment is, but it should be a "check" near the end of the car paying process, not a goal. So what should you do? 1. Go to Edmunds.com or similar and find out what is a likely, rock-bottom price for the car you want to buy (at or around dealer invoice, or lower). 2. Secure your own financing for that amount, going to eLoans.com, Costco (if a member), your credit union, etc. Pick the right loan for you; 3 years, 5, etc. 3. If trading in, figure out the best you should likely be offered by the dealer on a trade, or if you want to go that route, be prepared to sell it yourself to a third-party for more, but only do that if you are willing to sell first, get cash in hand, wait a week or two for buyer remorse, and THEN buy your new car. 4. Take all of the above and when you have a car you want, phone the dealer and make an offer. If trading, tell them what you need in trade, tell them what you need for a price in the car, tell them if they want to finance what they need to beat as rates. If they offer rebates vs better finance deals, do the math and see which puts more money in your pocket at the end of the term. Now, if you do all of the above (or even steps 1, 2, 3), you will know what the monthly payment will be. If the numbers don't work (you are at our below your monthly payment) when doing steps 1, 2 and 3, then they almost certainly won't work when the dealer makes you an offer. TJR [/QUOTE]
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SportTrac Discussion
General Sport Trac Discussion
Looking at getting my wife a 2013 Mistubishi Outlander GT. Thoughts, suggestions???
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