Originally Posted by
Sir Artsdradamus
I did similar sales a while back. The big thing they do is try to pin you down to a payment. Ask you what you are comfortable paying, and they try to get you under that number. Obviously, know what your budget is, but don’t overpay for a car just because they stretch the terms of the loan to get you under your monthly budget. They’ll try to use your own words against you. “But you said if I could get your monthly payment below X, we’d be doing this deal.”
When buying a new car, typically it’s a waste of money to buy an extended warranty. 4 out of 5 times, you lose money because the repairs don’t end up costing as much as the warranty. When you add the price of the warranty into the loan, it comes out to be around 15-25 per month. If you just save that money in a seperate account every month, you will be able to pay for just about any repair you need if something happens after the factory warranty runs out. And if you don’t have anything go wrong, you have a nice down payment to put on your next car.
