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Originally Posted by Evia
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Does anyone have any advice, tips, or suggestions to buying a new/used vehicle?
Do I haggle like I'm in the EC tunnel?
Will I really get a better deal with cash vs finance?
Are there any other decent search apps besides cars.com and autotrader.com?
If the car market really is crashing, should I wait to buy?
When will I know it's the right time?
Anyone who's got some experience with this I'm all ears(eyes)!
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A lot of good feedback here, but there is one thing I've learned along the way.
Buying a car in cash generally gets you a higher purchase price. Dealerships are more inclined to give better pricing on the car when financed because they add a premium to whatever financing option you get. Let's say your actual borrowing rate comes back at 7%. They'll often add a 2% or more premium to that which they'll keep for themselves.
If you do plan on paying cash, I recommend financing at whatever terrible rate they give you which will allow you to negotiate a better price. Then, when you get your first bill, just strike a check for the entire balance.