There may be as many theories on the best way to buy a car as there are manufacturers. Edmunds.com is often praised for its detailed car reviews, but it also has a comprehensive section of service-oriented content — including tips for buying new and used cars.
A recent article, titled “11 mistakes car shoppers make,” covers exactly what the title suggests. It’s a list of new and used car-buying “musts” — monthly payments to trade-in appraisals.
Here’s what Edmunds.com editors wrote about monthly payments for new and used cars:
“Many buyers go in with a set amount they’d like to pay every month, and are happy to share that figure with the salesperson.”
“When you do that, you’re not actually talking about the total price of the car,” says Edmunds.com Senior Consumer Advice Editor Phil Reed. “You also need to take into consideration the interest rate, as well as the length of the loan.”
“For example, a dealer might suggest a longer loan so the car fits in your budget. But a longer loan also means you pay more in interest. In the end, you wind up overpaying for the car.”
Here’s what Edmunds.com editors wrote about trade-in appraisals:
“If you’re planning on trading in your old car, be sure to look up its value on your own. You can get an estimate of your car’s trade-in value from Edmunds.com: Be sure to print out the details and bring them with you to the dealership.
“If you don’t think you’re getting a fair deal, you might be better off selling the car on your own, either to a private party or to the used-car superstore CarMax.”
“Does your vehicle need some minor work, such as new tires or wiper blades? It’s probably not worth fixing, says Matt Jones, senior editor, retail experience at Edmunds. It won’t add much value to the trade-in. You’re better off putting the money toward the new car.”
To read the complete Edmunds.com article om buying news and used cars, visit: