3 Car Buying Rules to Save You Money and Time

There are not many other processes that can be more stressful than buying a car. There are things that you should do, and things that you should not do. That is why I am giving you the 3 car buying rules that you have to follow. If you don’t, I can promise you that you will 1. Waste your time, 2. Spend way too much money, or 3. Both. Let’s get started.

(1) Know EXACTLY What Car You Want to Purchase

The first of the car buying rules that you MUST follow is to know what vehicle you are wanting to purchase BEFORE you go to the dealership.

Never, never, never, never just go onto a car lot “looking” around. If you do this, you will likely come home with a car that you impulse purchased. Only go onto the lot when you are looking at a specific vehicle. 

When you decide to get a new vehicle, think of these things:

1. What size car do I need for my life/situation?
2. What safety features are important to me?
3. What kind of gas mileage will the vehicle get?
4. How will the new car affect my car insurance rates?
5. Can I afford the car? (Here is an article to better explain this.)
6. Will I likely drive this car for the next few years?

You need to know the answers to these questions BEFORE purchasing a vehicle. The answers will vary, but you need to know where you stand in respect to them.

When you are looking for a vehicle and find one online that fits your needs/wants, call the dealership and ask if it is still in stock and set up a time to go to see it.

This will cut back on a LOT of wasted time for you as well as the dealership/salesperson.

(2) Have an MAXIMUM You Are Willing to Pay BEFORE You Get to the Dealership

This is the second car buying rule that you need to follow. If you don’t, you will likely pay WAY too much for your car.

Make sure to know these things while doing your research on a vehicle:

1. Know the market price range for the vehicle you are wanting in your area.
2. Know what add-ons, accessories, etc. that you must have or don’t need.
3. Know your own credit score (if financing).
4. Know your income and financial situation.

Here is the way to calculate the maximum car payment that you should have. 

The dealer will likely want you to pay more for the vehicle. But don’t do it!

If there are a lot of fees, dealer markups, unnecessary accessories, etc. then ask that they be removed if the price of the vehicle falls above what you are willing to pay.

Which leads me to the last (and most important) car buying rule.

(3) NEVER Be Afraid to Walk Away

This is the most important of the car buying rules.

Remember, at the end of the day, you will be able to buy a car anywhere. If you decide that you HAVE to buy that particular car, you’ve lost. 

Never be afraid to walk away from a car deal.

If the car price, payments, trade in value, etc. don’t work to your favor then walk away. 

Your Advocate Alliance is a great source for more vehicle purchasing, selling, and general car knowledge. Here signs that you should walk away from a car deal:

1. The seller won’t show you a CarFax or reconditioning report.
2. They won’t let you get a pre-purchase inspection.
3. They offer you different prices depending on if you finance with them or not.
4. They charge ridiculous fees.

Final Thoughts

Buying a car is stressful. Most of us only buy a car every few years or so. But car salesmen do this process every day. They are professionals and we are not. 

Make sure that you have as much knowledge in your pocket BEFORE you go to a car lot. 

I’m here to help you get that knowledge. 🙂

If you need more help purchasing a car, here are some other articles that I have written.

Until next time!