Stretching Your Dollar: How to ease the process of buying a new car

Image result for Stretching Your Dollar: How to ease the process of buying a new carTOLEDO (WTOL) – Few things in life are dreaded more than buying a car; getting a loan, picking out the right car, then negotiating.

The Greater Toledo Auto Show just wrapped up in downtown Toledo at One SeaGate, giving us a chance to see all the new makes and models coming out: Ford, Toyota, Honda and Chrysler and many more all under one roof.

Millenials are going for trucks and SUVs, so a lot of midsize cars are getting totally phased out! Not to mention, fewer people are even buying new cars.

Most new vehicles coming off the lot are leased. You get a sweet ride for less money.

People know you save big with a used car, or what dealers call pre-owned.

Online shopping for cars has changed the business, it’s actually less of a hassle now.

Experts say used cars are just as dependable, less expensive and fees are cheaper.

You can click on a number of web sites — even the dealers — and find exactly what you want. Then you go in and take a test ride.

“If you are talking about saving money do your legwork first and get all the information you’re looking for. Get pre-approved, that’s always good. Provide all the pertinent information on your trade-in that’s relevant — relevant to us. Does the car look good cosmetically? Tires good? Not beat up? Looks like something that’d be desirable on the secondary market?” said Ken Millen of Charlie’s Dodge Chrysler Jeep Ram.

To recap: Do your homework on the car you want. If you are considering a trade-in, have your car ready for that.

Now, when is the best time to buy? You may have heard the end of the month, when sales has a quota to meet. Really, that’s the case. However, they’ll always work with you every day of the month.

“Out of our control is the manufacturer, they can control the incentive side. OK, let’s say you’re looking at a Dodge Charger, our manufacturer has a $3,000 incentive going. Maybe the last three days of the month, they kick in another $1,000. That’s out of our control,” Millen said.

One more tip: Stay within your budget. Figure out what you can afford each month for a car payment. and find out how much your insurance rates will go up.