Time is one of our most precious commodities these days, and whenever you can save a little, it makes life a bit easier. Often, buying a car takes up a good portion of your day. But if you plan ahead, you can save time at the dealership.
How to Save Yourself Some Time When Buying a Car
There are several small things you can do that add up in big time savings before you ever head to the dealership. Since we live in the Internet age, a lot can be done from the comfort of your own home. Here are some steps you can take before heading to buy a car:
Address your finances. Your budget is going to play a big role in what you can afford, as is your credit score. Unlike an outside company, you can find out your own credit score without it taking a hit. It’s helpful to know where you stand credit-wise—it will determine your interest rate, and if you’ll need to put money down (hint: a low score will most likely require some form of down payment). Check in with your budget, income and spending as well. How much can you afford each month? Did you factor in gas, insurance and maintenance in addition to the car payment? Gather pay stubs or a tax return and create a folder of everything you’ll need when at the dealership to purchase a car, especially if you’re doing in-house financing. Here are the documents you’ll need:
- Driver’s license/photo I.D.
- Proof of insurance (if you have it)
- Proof of residence
- Proof of income
- Credit/banking history
Value your trade-in. If you have a trade-in, it’s helpful to value it before going into the dealership. Use sites like Kelley Blue Book or Edmunds.com. Remember to look at the dealer value, and be honest about the condition of your car. If there are more than a few dents, it is not in “like new” condition.
Research cars in your budget. Once you have an accurate picture of your budget and what you can afford for a monthly payment, you can start looking at cars that fit your needs and price range. Look at model years, reviews and what’s available in you area. Find a reputable used car dealer and look at their website to see if they have anything you’re interested in. If there’s a car that you like that’s not on your list, research that as well. Once you have found the vehicles you are interested in, take the next step.
Apply online for financing. Many places now have online applications for financing, including dealerships with in-house financing. Fill it out before you go in to save even more time. You’ll have all the information you need to fill out the online form at your fingertips, and it’s much easier and faster than writing it all out by hand or reciting the information for another person to type. Dealerships often contact you as well with their decision and the amount. It saves you the hassle and time of dreaming about cars outside your range, like that Ferrari.
Strategize. Once you’ve taken all the preliminary steps, see if there are any strategies you want to use. For example, do you want to ask for money off the vehicle? Why should the dealership discount it for you? If you have a price in mind, do you even want to haggle, or only look for cars in your price range? Decide what you’re up for before setting foot on the lot. And remember they may say yes, but also may say no. You'll want to decide if the no is a deal breaker for you.
Email or call the dealership. Before you make the trip, call or email the dealership to confirm pricing and find out if the vehicle is still there. Sometimes things that have sold that morning haven’t been taken off the website yet. Going to see a vehicle that isn’t there definitely is a time waster. Save time by finding out in advance.
Take a test drive. The first thing you should do when you get to the dealership is go for a test drive. Test driving will tell you quickly whether a car is going to work for you or not. If you have a couple rides you’re interested in, take both out for a spin. You’ll usually know pretty fast which one works best for you.
Saving time is always a good thing in a fast-paced world. Try a couple of these steps to make the car-buying process just a little bit swifter. The more you plan, the more likely you’ll drive off the lot quicker—and have more time to enjoy your sweet new ride!
