Tips on Buying Cars: Need to buy my first car, dodge neon, kelly blue book

Question
Hello Douglas my name is jenny and i have a dodge neon and its junk and im looking to buy a new car maybe a 08 malibu or something like that i can pay in cash or do whatever is the best thing. I also know not to pay the sticker price lol and how do i beat that system. So what can i do to make this painless and cheaper quick and fast. or what is the best thing to do. any tips is helpfull cause im new to buying a car. so please help and explain it well for me and thank you so very much sir

Answer
Hello Jenny,

Congrads, buying a vehicle is the second biggest purchase most people make in their lifetime. First, you need to do your homework as far as which trim level of the Malibu you would like to purchase. This is important because of how much you're willing spend on the vehicle...period. Second, you need to be honest with the dealership that you would like to trade your vehicle and you expect market value based on Kelly Blue Book. For that value go to www.kbb.com and punch in your information for trade-in value. Be honest with yourself on the true condition of your trade. Third, I would recommend that you research your own financing. If you bank with a particular lender, or credit union, tell them that you're looking to buy a new vehicle and you would like to get pre-approved before car shopping. A educated buyer is a better buyer.

I would never pay cash for a vehicle. Although it's your second biggest investment...it also depreciates over time and shouldn't be viewed as an investment. So, if you have the cash earning in a savings account, or cd's, etc. Keep them their and take advantage of GMAC's low financing rates. It's easy and quick to qualify.

The pain about buying a car is really the fear of the unknown. Prepare yourself, do your homework, and make a decision based on pricing, dealership service dept. reputation, and any other perks you will receive.

Best of luck!

Douglas