Buying a car… some great info!

Last night my brother told me he had gotten another car while I was in Mexico and told me a little bit about how that process went. He went to the dealerships not planning on getting another car, but instead, traded in his few years old car for something new.

This happens all the time to people. If you’re at a car dealership then most likely you are somewhat interested in the idea of driving a different vehicle. The sales people know this, they just have to find your reasons for not doing it today and then eliminate those reasons. They are sneaky too.

Over the summer, I actually bought two cars (well, I leased one of them) and before that I’ve purchased a few cars, each by a different process. So I feel like I am pretty knowledgeable about the process and what to look for. On my most recent purchase, I feel like I got an incredible deal and am very happy with the 4runner. The best advice I can offer you is to be informed about the various ways to buy a car, the language of loans, and the common tricks car dealers use. I could write up a great article about the things I’ve learned, but I actually don’t have that much time or motivation. So instead, I will post this link: A Young Professionals Car Buying Guide. I found it pretty informative about real world car buying for young people.

Mint’s Note: Keep in mind that dealerships often claim that extended warranties are “included.” Included, though, doesn’t mean free. To include it, you’ll have to pony up: dealers belatedly explain you “have to” purchase the extended warranty, or the APR will shoot up. Don’t be fooled: your APR should only be affected by your credit worthiness.