Great Car deals in 2008. Find the Right Auto Price

Buying a car in January puts consumer in driver's seat

The auto industry has wheezed through 2007 and its economic asthma doesn't seem to be healing. Throw into the mix the fact that consumers are exhausted financially at this time of the year. They're just not that interested in cars, and if you walk into a dealership right now, you'll find it's just you and the salespeople. (I remember when I bought a Miata a few years ago on Dec. 23 — I was the only customer in the entire dealership!)

All of those factors create the "perfect storm" setting for bargains in the car market.

The absolute best deals this month are the 2007s that dealers are still stuck with. We're already into the 2008 model year and they're still trying to clear the '07s. In addition, this could be the last year there are extraordinary deals in December because the car makers, particularly General Motors, Ford and Chrysler, have traditionally made cars then tried to figure out if there are buyers for them. Instead, they're transitioning to a new system, one in which they won't make a car unless they have a potential buyer for it. So this could well be the last year for these fire-sale deals.

If you keep a car five years or longer, it's a no-brainer to buy the prior year's model. If you keep it three years or fewer, it's not a great help to buy the prior year; you will drive off the lot in a one-year-old car. But before you start shopping, there are a few things you should do.

First, go to www.edmunds.com  and put in your ZIP code. This site will provide the low-down on the car you're interested in — what factory incentive money there is, what the true market value of the car is, etc. Put in the car you're interested in with all the options. For instance, I recently looked up a 2007 Chevy Suburban with a suggested retail price of $39,085. After incentives, rebates and discounts, the price was $31,876. That's more than a $7,000 discount from list — and that's just one example.

Another site to visit is www.carsdirect.com . This site gives you a guaranteed price of what they'll sell you a car for. You can also get quotes from the major wholesales — Costco, BJ's or Sam's Wholesale.

Before you even think of setting foot in the showroom, get pre-approved for your money at a credit union. They write car loans about a point and half below what a traditional bank offers and about three points below what the car dealer has on financing. Once you've made a deal, tell them about your credit union rate and sometimes they can match or better it. And never bring a trade-in as a negotiation on a vehicle: Always treat it as a separate transaction.

Find out what your car is worth at either Kelley Blue Book, www.kbb.com, or www.edmunds.com.

While there's no question that the time of the year is in your favor, if you also do your homework first, you'll be amazed at the really phenomenal deals you may find out there.

How To Pay Less For Your Next Car Loan

If you really want or need a new car, but you don't have the capital up front you can consider taking out a loan especially for the purchase of your car. I've talked to many people who have always paid up front or have kept their car until it falls apart because they either didn't want to have to pay for something that would depreciate so fast or they thought they didn't qualify to get a loan. There's a good chance that paying the monthly rate might be cheaper than continually fixing up the old heap.

There are so many different financial companies that specialize in issuing loans specifically for the purchase of automobiles. Even more conveniently, they're all pretty well setup online for easy access. This is a blessing in disguise, fleeting are the days when you had to go to the nearest bank and get denied or take on a heavy payment due to the lack of options. With online loans you have the option to really shop around and be much more confident that you're not getting "taken to the cleaners" on the first stop.

Often, this type of loan for the purchase of a car is known as an "unsecured car loan" and you can search for specialist companies online that provide them. A good car loan company should be able to give you an instant free quote, and many of these companies will provide between 90% to 100% of the purchase value of the car.

Typically the car loan is repaid over a period of three to eight years - five being the most popular. What's particularly interesting is that even people with poor credit, bankruptcy or CCJ (County Court Judgment) are eligible to take out an unsecured car loan. Now going into debt is never a good thing but if you need a car and have to go the loan route then always work within your means.

Understanding what your credit situation before starting your quest for a new car loan, is very important. You should seriously get your credit check done to ensure you know going in what issues you have if any. As stated earlier an Equifax Credit Report will cost about $15 but is well worth it. You can also try FreeCreditReport.com, but either way it's a small price to pay to ensure you know where you stand, especially if you're planning on going car and loan shopping in person.

As always, it's good to visit as many car loan online websites as you can - many online websites will offer you a free quote for your car loan, and it's a good idea to get as many of these as you can prior to making a final choice. Try to get at least 3 and even 4 quotes to compare and ensure you're getting the best deal out there. Getting quotes usually only takes a few minutes to fill out a form but doesn't cost a dime, so take advantage of them. The worst thing when buying anything on impulse is seeing it cheaper right after you've paid.

Valuable tips and links for car buying online and buy cars online including online car loans, online car insurance and online car auctions. Save big with help from http://Car-Buying-Help.com/carblog/ 

 

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