Getting a Good Deal on a New Car

A typical Canadian motorist will purchase 10 to 12 cars during the course of his or her life. If you’re planning on buying a new vehicle and want to get a good deal, it’s essential that you do your homework before going to the dealership. Follow the advice below and you will leave the dealership with not only a new car, but also the satisfied feeling of having gotten the best deal possible.

Whittle down your choices

First, you have to decide what kind of vehicle suits your needs. Do you want an SUV with plenty of room for the family or a small car that’s fuel efficient? You have to start by defining your model class and price range.

Do your research

Your next step is to do research on the features, safety ratings and performance reviews. The class of vehicle you prefer may have a dozen different models, so you need to narrow down your selection. Consult dependable online sources such as Edmunds.com, JDPower.com and ConsumerReports.org

Arrange financing off the car lot

Before visiting the dealership, line up the financing for a car purchase through a reputable third party. Auto dealers make much of their profit on financing deals, so third-party financing will likely carry better rates and terms than what the dealer offers. Save money by arranging your car loan off the lot and ahead of time.

Take a test drive

You should take any vehicle you’re considering buying for a test drive. Even if the reviews are positive, you need to be sure that you feel comfortable behind the wheel. So test-drive the vehicle for at least 20 minutes on the same roads that you usually frequent. Adjust the seats and become familiar with the various features.

Negotiate a better price

The car salesperson will try to sell you the car for the Manufacturer Suggested Retail Price (MSRP). This is the published price--what the dealer hopes to sell for, but not what he expects to sell for. If you can knock $500 to $1,000 off that price, you’re probably getting a good deal. But in order to do that, you need to know the factory invoice/wholesale price. You also need to know what factory rebates are available on the car. All this information is available in a CareCostCanada Wholesale Invoice Price Report.

Take the invoice/wholesale price, and deduct all the relevant cash rebates. This is the amount at which to start the negotiations, since this is the true price that the dealer paid for the car from the factory.

If you’re considering a car with a sticker price of $30,000, the dealer may have paid $25,000 for it and wish to make a 10% profit - $2,500. But if push comes to shove, the dealer may settle for a 3 to 4% profit - $750 to $1,000. That would mean a saving to you of as much as $1,750 that would otherwise have been pocketed by the dealer as additional profit. It pays to be an informed and skilled negotiator at the dealership!

For information about PRUDENT VALUE CARS, visit our web site: www.prudentvaluecars.ca

Don't Overpay on Car Insurance – Getting a Good Deal

Don't Overpay on Car Insurance – Getting a Good Deal

If you are a driver in Ontario, there is a good chance you might be paying too much for car insurance. Car insurance can often be obtained for less than we're currently paying. There are web sites like F.S.C.O. (The Financial Services Commission of Ontario is a regulatory agency of the Ministry of Finance that regulates insurance in Ontario.) there you can check information to see if you are in fact paying too much on car insurance and if you are, you will be able to cut back on your payments by getting a new policy. In a tough global economic market, it is important that you don't overpay on car insurance and that you focus on getting a good deal.

If you are looking to get a good deal on car insurance there are benefits and perks you will want to sign up for. For one thing, you will want to get a newsletter from a service that monitors car insurance rates. That way you can keep an eye on the market and get a sense of if you are over paying or not. When you see something that looks like a good deal, you can act on it. Some places will also send you updates via text or tweet. This is a great option for people who use the social media as a way to get all their information.

Another helpful service you can take advantage of is renewal reminders. This will let you know when it is time renew your car insurance. We all need to keep on top of important dates and this service will be of assistance to you so that your insurance doesn't run out without you even realizing it. When you are paying for car insurance and looking to pay less, you won't want to miss a payment or spend time without renewing your insurance because this will make it harder on you to get a good rate.

Another benefit to trying to get a lower car insurance rate is that many times insurance companies offer bundles of different kinds of insurance, so you can often get lower rates on other insurance payments you have as well. It is important to be a good client or customer and make all payments on time and of course it doesn't hurt to also avoid accidents or things that make your insurance rates go up. It is possible to pay less than you are paying now if you just shop around a bit and stay informed on what all your options are. 

For more information regarding our used car dealership visit and car financing www.prudentvaluecars.com