BBB Urges Car Buyers: Follow These 7 Steps for Best Deal NOW
UPDATE: The Better Business Bureau (BBB) has just released a vital guide for consumers looking to purchase a new vehicle in today’s challenging market. Amid rising interest rates and persistent supply shortages, buyers must navigate their options with care to secure the best deals possible.
WHY IT MATTERS: With the car market fluctuating, making informed choices is crucial to avoid financial pitfalls. The BBB emphasizes that understanding costs beyond the sticker price—including taxes, insurance, and financing—is essential for a successful purchase.
KEY STEPS: The BBB outlines seven actionable steps to empower car buyers:
1. **Plan Your Budget:** Set a realistic budget that includes all potential expenses. If financing, seek pre-approval for loans to enhance your negotiating power at dealerships.
2. **Do Your Research:** Utilize trusted resources like Kelley Blue Book and Edmunds for model comparisons, safety ratings, and resale values. Knowledge of common issues through Technical Service Bulletins (TSBs) can also inform your choice.
3. **Explore Financing Options:** While dealership financing is popular, options such as bank loans or credit unions may offer better terms. Review interest rates and total loan costs to maximize your budget.
4. **Test Drive and Inspect:** Don’t rush the test drive. Evaluate comfort and performance under various conditions, ensuring all advanced features operate as intended.
5. **Review Warranty and Maintenance:** Understand warranty specifics, including coverage duration and mileage limits. Assess whether extended warranties are suitable based on your driving habits.
6. **Double-Check the Contract:** Before signing, meticulously review all terms and fees. Clarify any discrepancies with the dealer to avoid unexpected costs.
7. **Finalize Insurance and Registration:** After purchasing, register the vehicle immediately and set up insurance. Comparing rates beforehand can help secure the best deal.
By adhering to these steps, buyers can confidently navigate the car-buying process and drive away knowing they made informed decisions. The BBB encourages all consumers to visit their website for further insights on purchasing vehicles and finding trustworthy dealerships.
For more details, explore the BBB’s comprehensive guide at bbb.org. Report any suspicious business behavior to BBB.org/ScamTracker to help others stay informed and protected.
The BBB, a nonprofit organization established in 1985, serves 19 counties in Central East Texas and provides free resources to consumers, including access to profiles on over 5.3 million companies.
