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5 tips to make new car purchase enjoyable

Frederick A. Fisher, MS CFP
Special to The Union
Photo for The Union by John Hart
John Hart | The Union

Fall is here and with it are the ads for the 2015 year end clearance sales for the major auto manufacturers, foreign and domestic.

Should you be in the market for a new car, now is the time to act.

Dealers and manufacturers are motivated to make room for the 2016 models.



However, we all know that buying a new car can be a dual-edged sword.

On the one hand, you get to try out new cars and hopefully find the one you want.




But on the other hand, you have to go through the sometimes painful experience of buying and negotiating for that car.

Having worked in the industry almost 30 years ago, I learned a thing or two on how the business works.

Now, I’m passing along some helpful tips to help my clients make the car buying experience less stressful and hopefully make it enjoyable.

The first tip I give my clients is to do as much research online as possible.

This includes researching the car, options, finance rates and values on their trade in, should they have one.

The second tip is to buy the car and not the deal.

Remember you will spend every day driving that car around town or commuting to work.

Therefore, it is important to like — and hopefully love — the design, feel, color, performance and options that are in the car.

If you compromise on the car, just to get a better deal, you may find yourself with a car you are not excited about, which you will be reminded of everyday.

It is better to put more time in research what you can afford and then buy the car that best fits your needs, wants and budget ahead of time.

Third tip, know your bottom line and be willing to walk away.

If you are a qualified buyer and are offering a fair price, they will come around.

If they don’t, you probably don’t want to do business with them anyway; never let them pressure you into a deal.

Fourth, remember to price in taxes, license and extended warranties into your bottom line.

Those can add 10 to 15 percent to the sales price, so be prepared.

Lastly, if possible, see if you can see the sales board in the manager’s office.

If it has been a slow day, they should be more willing to move a car to get another unit out.

The bottom line is buying a car should be fun and exciting.

By putting some time researching online and being prepared for the eventual deal-making process, you can be confident that you will get the deal you want — and have fun doing it.

Frederick Fisher is a CFP and insurance agent. Securities and advisory services offered through National Planning Corporation (NPC), Member FINRA/SIPC, a Registered Investment Adviser. Ostrofe Financial and NPC are separate and unrelated companies. For questions or suggestions, contact him at 530-273-4425 or frederick.fisher@natplan.com.


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