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Wednesday November 22nd 2017

Negotiating the Best Deal on a Used Vehicle

One of the most daunting aspects of buying a new car is usually the idea of having to negotiate for a decent price. Many consumers dread the confrontation and the haggling that goes into buying a car, so they will agree to the first price offered by the salesman. Avoiding the negotiation process might get you in and out of the dealership quickly, but you will pay for it with an inflated price that could have been much lower with a little more preparation on your part.

Do Your Homework First

Research the car you want before you visit the dealership. Create a file folder full of information that you can print from the internet. Collect the prices for the type of car you are shopping for from several dealerships in your area. Go to the manufacturer’s website and choose the features you want on the model you want. The most important piece of information that you can find is the invoice price. The invoice price is different than the retail price, and it is the price that you need to base your initial offer on.

Stay in Control of the Conversation

When you arrive at the dealership, speak with the salesperson in a clear, concise manner. Don’t give them the opportunity to begin making suggestions about the cars on the lot. Explain that you have already researched the models available, and you know exactly what kind of car you want and which features you would like included in that car. The salesperson needs to understand that you are not interested in a different car, and that you are an informed shopper. You will earn some respect this way and possibly avoid some unnecessary time looking at cars you don’t want to look at.

Use the Invoice Price as a Guide

When you sit down to discuss a price with the salesperson, bring out your printed copy of the invoice price for the car. It is entirely possible that your salesperson may not be aware of the invoice price for the car you are buying because many dealerships do not share that information with their sales staff. Before you go to the dealership, decide how much you are willing to pay over the invoice price. Begin your negotiation with a price that is about $100 or even $200 below your preferred price so that the salesperson will have some room to pull you up from your initial offer.

Don’t Be Manipulated

The salesperson may tell you that they need to take the offer to their manager for approval. They may really just want to leave you sitting alone in the office long enough to begin to change your mind about your offer. If you are left alone, get up and walk around. You could even go out onto the lot and browse among the cars. When you are moving around, the salesperson will be anxious to get back to you as soon as possible rather than risk losing you as a customer.


Seven Top Car-Buying Tips

car buyingBuying a car does not have to be a complicated process. Take your time and follow the proper steps so that you can feel confident that you are getting the best deal on the right car for you.

1. Research the Worth of Your Current Car

The car you are trading in is one of your most important financial tools when you buy a car. Look online and in your local newspaper for the prices being offered for similar cars. You might get more out of your old car if you sell it yourself rather than trading it in.

2. Shop Online First

The internet provides a great deal of information about the cars that are on the market today. Do some research into the types of cars you are interested in before you visit the dealer’s lot. Find out what kind of prices are offered by several dealers in your area. Look through the manufacturer’s website to see what kinds of options are available on the cars you like.

3. Choosing Between New or Used

Check into the financial differences between new and used cars. High quality vehicles from the past few years can be good purchases, but you might be able to save more money through rebates and other incentives on a new car.

4. Secure the Cash Before You Visit the Dealer

If you plan to purchase your car through a loan, go ahead and apply for the money before you go shopping. Having the loan amount already approved gives you a safe price range to shop in. It also reduces the anxiety of applying for money for a car that you have fallen in love with on a showroom floor.

5. Consider the Differences Between Leasing and Purchasing

Leasing and purchasing each have benefits and drawbacks. A lease will put you into a car without a large downpayment, and the monthly payments tend to be lower than traditional loan payments. Owning your car gives you a little more freedom to make cosmetic changes, and you can keep the car as long as you like.

6. Negotiate the Final Cost

Every car purchase involves some haggling. Be prepared to negotiate by looking up the dealer’s invoice price on the vehicle you are interested in. Collect bids from several dealerships to use as leverage during your negotiation. If you are planning to lease a car, make an effort to learn some of the leasing jargon that the salesperson will use to try to throw you off. If you are hesitant to enter negotiations on your own, think about buying a car through a car-shopping service that offers no-haggle pricing.

7. Resist the Temptation of Last Minute Add-ons

As you are filling out the final paperwork for your purchase, the finance manager will probably suggest that you add on some last minute items. Resist this last ditch attempt to get you to spend more on the car than you intended to. These may seem like small additions, but they can add up very quickly.


Five Must-Know Facts About Health Insurance

Many people have a difficult time finding health insurance at a reasonable price. Rates vary drastically from one insurer to another and from state to state. More than that, health insurance premiums depend on your age, gender, medical history, pre-existing conditions and zip code. The amount of coverage you buy may also influence costs. If you want to make savings and get the best deal on health insurance, consider the following:

1. Comparison Shopping Can Save You Money

When shopping for health coverage, be sure to compare as many quotes as possible. You only need to visit two or three insurance websites and fill in a short form in order to receive free quotes from top rated companies. Research your options before making a decision. Evaluate each offer and compare plans side-by-side to find a good deal.

2. Cheap Insurance is Not Always the Best Choice

There are many companies featuring health insurance plans that seem too good to be true. In most cases you get what you pay for. Although searching for an affordable policy is highly recommended, buying the cheapest health insurance plan might result in higher medical expenses over time. The least expensive policy probably won’t offer as much coverage as you need. You should rather choose a plan that is slightly more expensive, but includes decent coverage.

3. If You Get Offered a Group Plan, Take It

Most individuals get health coverage through the company they work for. Group health insurance is a viable option for anyone looking to save money and reduce medical expenses. A typical plan usually covers routine check ups, specialist consultations, in-patient and day-patient treatments, vaccinations, maternity services and emergency care. If you are unsure of whether or not the company offers medical coverage, talk with your employer.

4. More Flexibility Equals Higher Expenses

In general, health insurance plans that offer great coverage at low rates will only allow you to use a specified network of doctors and hospitals. An indemnity plan features more flexibility than Preferred Provider Organizations, but it has higher costs. Health Maintenance Organizations provide members with a greater range of health benefits at the best rates on the market. However, policy holders are required to see only health care professional within the network.

5. Any Insurance is Better than None

Skipping health insurance is not an option. Even if you don’t have enough money to buy the policy you are interested in, you should still sign for a plan that you can afford. Medical bills from an unexpected medical condition can push you into bankruptcy. With no insurance, a simple procedure could cost you hundreds of dollars.

There are many other things that you should know about health insurance. Before you go shopping, do proper research to find out more about medical coverage. Evaluate at least five quotes from multiple insurance providers, check out networks and search for information about the company you are interested in. Ask about the discounts that are being offered and negotiate your rates in order to get the best possible deal.