If you are in a position to afford or be able to finance a new car now, you may soon have the pick of the litter. As the auto industry is still trying to recover from the several big blows, namely the cost of gas and the struggling economy, there seems to be a shaft of light at the end of the tunnel - at least for those who can afford it.
Right now car dealers are looking to unload too many 2008's still on the lot as well as the countless used cars still available, while at the same time the new 2009 models are arriving at the lot. There are plenty of deals to be made and car dealerships are more than willing to start making them.
If you are in need of a new car, there are some things you should consider before rushing over to the lot.
Check on Your Credit
Before making any decision, make sure you are credit-worthy. Even if financially things have been great for you, there is always the possibility of errors on your report. Take advantage of your free annual credit report and check over every bit of information contained on your report. Credit scores that were once thought to be perfect now may only be considered good. Make sure your score is as high as it can be prior to considering finance options. Showing up with outstanding credit also gives you more control in the buying process because nowadays, to many dealers, customers with ideal credit are a rare commodity.
Know Your Stuff
Don't walk into the lot without an education. The internet makes vehicle pricing information much more accessible. You can know what you want to pay and what the dealer may be willing to accept before you go. Research vehicle models and know what you want before letting a dealer convince you otherwise.
Walking on to the lot with pre-approved financing gives you even more power. Since you already know what you can afford and the dealer knows you are approved, you are likely to walk away totally comfortable and satisfied with your purchase.
Choose Your Dealer Wisely
There are pros and cons to shopping at both large and small dealerships, such as the fact that larger dealerships may have more selection and may be willing to make bigger deals; whereas smaller dealerships may be more particular about their deals and the selection of vehicles ready to drive home may be smaller.
Do Not Procrastinate
While no one expects the economic situation to change overnight, there is still only a window of opportunity to get a great deal on a new car before the new year. Dealers will be gearing up for end-of-the-year sales events and there may be more options available n financing. Don't wait if you are interested in getting or if you need a new or semi-new vehicle.