Debt continues to increase while wages lag, and many Americans struggle to purchase a new car. In fact, affordability represents the most severe headwind causing the decline in vehicle sales, which are down 2.0% calendar year to date (CYTD) 2019.[Read more…] about Could Forgiveness of Student Loans Lead to a New Peak in New-Vehicle Sales?
new car shopping
New-car shoppers continually debate between buying a fully loaded economy vehicle or a base-trim premium car.
When buyers realize that $40,000 can either buy a Kia or a Volvo, some interesting comparisons arise. Is it better to get a lower-end brand with the latest high-end features or a luxury brand that’s missing some desirable options?
The base price of the Volvo is $2,450 more than that of the loaded Kia. Is the extra cost worth it?
The world where new car dealers compete for your business is a place only the savviest buyers know exists. With just a few clicks of your keyboard, you could be well on your way to having new car dealers deliver you their best deals before even setting foot on a lot.
After all, according to a Time.com article, 75 percent of new car buyers, if given the opportunity, would rather do the entire process online. Let’s help you accomplish that.
The absolute first step you must take is researching the exact vehicle you want. You’re not going to get the best price on a Honda CR-V, the car we’re going to use to highlight the shopping process. Sure, it’s an extremely popular car, but that doesn’t mean deals don’t exist. Go online and build your vehicle. That will make you realize the car you want’s starting price and how expensive options will be.
Test drives aren’t as fun as they used to be.
In the past, a buyer would find a car he or she liked, request to take it for a drive, and have the salesman throw the keys and say, “Enjoy!”
When I was shopping for a 2004 Jaguar X-Type in late 2003 (don’t laugh, it was a cool car back then), the salesman gave me the car for an afternoon with the only condition being that I have it back by closing. I did, and I ended up making a purchase a few months later.
I don’t think the odds of that happening today are very good. That’s a shame, because a long drive provides ample time to get a true feel for the car. Today’s 15-minute drives tend to not be as comprehensive as they should be.
Next time you take a test drive, make sure you maximize the value of your time in the car by following this advice.
We tend to remember exactly where we were when momentous events mark a distinct “before” and “after” in our lives.
In this particular case, many years ago I was watching television, casually unaware my world would change with the very next advertisement.
It was an ad from Hyundai, the laughable Korean car company, promoting a 10-year, 100,000-mile warranty.
“How could this be?” I thought, “Cars aren’t even supposed to last much past 100,000 miles.”
Of course, today we all know differently, as cars routinely pass that mark and even double it.
Now there’s another warranty on the market that might keep pace with the life of current vehicles: the 20-year, 200,000-mile warranty.