Hustlers Anonymous

There comes a time in everyones life where they must consider purchasing a new or used vehicle. There are several routes one may choose to take once they encounter this fork in the road. Some may avoid purchasing a vehicle all together and relying on the public transportation system to get around. Although this may have some monetary advantages considering the price of gas nowadays, it may be more difficult in some localities versus others. Also, another form of transportation which is relatively more cost efficient is the bicycle, and lately, more and more people are chosen to commute in this manner. These means aside, I will be focusing the remainder of this article with regard to those who choose to purchase a vehicle as I have just had the pleasure/trial of engaging in this process recently.

First of all, If I had to name the one word that is most important in this task, it would be: Research, Research, Research. Find out what type of car you are considering to buy. Check out Customer Reviews, KBB (Kelly Blue Book) Values, Edmund's True Market Value, and so on. Compare features, models, trims, brands, and etc. Once you have done all this, narrow down your search before you even get to the dealership. Once you find out what kind of car you want, get feedback from your friends/trusted advisors. (Proverbs 11:14; 15:22; 20:18) After you've done all of this, keep a record of all the important information that you have found and take it with you on your car search for reference. In the event you are unsure about the information that you are getting from the salespeson, then you can refer to your notes for reference.

Next, visit several different dealerships. Don't allow yourself to be cornered into making a purchase the same day through intimidation by the sales person or finance department. Also, if what they are saying contradicts what you have discovered from your research, then it is a tell-tale sign that they are most likely not a trust worthy source to do business with. I've found some individuals will take advantage of the customers lack of knowledge in order to try to charge them higher interest rates or a sales price often times $1000 above MSRP (Manufactures Suggested Retail Price) or KBB. This in itself should not disuade one from purchasing from such a dealer, because some dealerships (CarMax for example) pride themselves on the quality of the cars they sell so it may be worth it to pay the extra money for peace of mind. However, in most cases you should avoid paying above the MSRP and should aim somewhere between the Invoice Price and the MSRP. Although dealerships are not required to disclose their invoice price, most will if you ask them kindly. 

Finally, the price has been set but now comes the hidden fees and taxes. In most cases, depending on where you live, taxes and fees can range between 9% and 13% of the sales price. That is why it is good to visit several dealerships in a region in order to get an idea of what type of percentage to expect with regard to taxes and fees. You can usually try to find an average that is not only fair for the dealer, but also for yourself because this is an area that many unwary customer have fallen victim.

At this point, if you have maneuvered through all of these hurdles and found a car that meets your needs, make sure it will be manageable in terms of your budget. It would be a good idea to come up with a ball park figure of the amount that you would like to pay and can afford prior to even starting your search. Although, this amount can be adjusted over the course of the search make sure that you are not overstretching your resources by purchasing an automobile that you aren't able to afford at the moment. 

Last but not least, pray over the matter and seek guidance from Our Heavenly Father Yahweh and His Son Jesus Christ. Because whether you are aware of it or not, they are keenly interested in even these most mundane matters in your life. (Matthew 6:26, 33) In all, I hope you've enjoyed this short article and please continue to visit us for timely advice with regard to your finances.