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Car Buying Tips for First Time Buyers in Phoenix, AZ

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Tips for First Time Buyers

Buying your first car can be exciting and scary all at the same time. According to a survey from Cars.com, one in four millennials don’t feel they have the negotiating skills to buy a vehicle, and would rather have their parents or friends help them. Whether millennials feel negotiating is stressful or they think they’ll be taken advantage of, it’s important that this generation of consumers knows how to prepare for the car buying process.

We’ve helped thousands of First Time Buyer customers find the perfect car for their needs all while helping them understand the car buying process. Our staff here at Liberty Cars and Trucks is more than happy to answer any questions you may have to help the buying process go smoothly. 

 

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Visit us at 3010 E. Bell Rd Phoenix Arizona and have a spin with one of our vehicles. Our staff is accommodating and friendly. They are also well knowledgeable on the cars and trucks in our showroom and our finance options. Come one, come all.

Come take a look at our inventory at our Phoenix AZ dealership.  We look forward to meeting you!


Buying Your First Car

While many millennials are still adjusting to the real world, they’re choosing to buy a  used vehicle rather than new a one as their first purchase.  Below are five steps you should take when you’re ready to buy a car, if you want to make the process as stress-free as possible:

Research

Research the different makes, models, years, and trim levels you’re interested in before you head to any dealership. Know what you need in a vehicle and what features are important to you. The more information you have, the easier the car buying process can be.

Know Your Credit Score

Know where your credit stands and triple check that your credit history is accurate. At www.annualcreditreport.com you’re entitled to a free copy of your credit report every 12 months from each of the three credit bureaus – Experian, Equifax, and TransUnion.   

Budget

Using your personal finances, a calculator, or online tools like an auto loan calculator, budget and calculate how much of a vehicle you can afford. A good tip is to make multiple calculations using different loan terms so you can see how much interest you could be paying over each loan term.

Down Payment

On top of your car budget, make sure you have a reasonable down payment. Depending on the lender and your credit score, you may not be required to have one, but a down payment can make your monthly payment more affordable and reduce your interest expenses.

Cosignor

If you have little to no credit, you may be required to have a cosigner in order to get approved. Look up the requirements, and discuss this with the person you want as your cosigner.

 

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Negotiating Tips

Knowing how to negotiate high-priced items like a vehicle can take some time to master. If you don’t have much experience, or are looking for some helpful tips, Edmunds has some advice that we think can help you:

  • Have numbers ready Print out a spreadsheet of the car you want with its wholesale and retail price from vehicle valuation sites such as NADA Guides. This gives you a leg up on the dealer if they try to negotiate a higher price than average.
  • Choose your words wisely Don’t just say what’s on your mind, think about what you’re going to say from the get-go. For example, open up negotiations by saying “I’m ready to buy a vehicle today if we’re able to reach an agreement on the price.” This is a confident and set opening that lets the dealership know you’re serious about the negotiation process.
  • Start low A great way to negotiate is by starting low on an asking price. This gives you the chance to negotiate closer to the lowest possible price and a better sense of control.
  • Don’t stray from your word The dealer is going to try and convince you to lean toward their deals and offers. If you know you aren’t interested, or don’t want to spend money on extras, don’t be afraid to say no. If the dealership is insistent or won’t come to an agreement you’re looking for, it’s okay to walk away.
  • Nothing is binding until you sign If you do come to an agreement, make sure you look at the sales contract closely. There are other fees the dealer won’t necessarily discuss such as sales tax, vehicle registration, and documentation fees. Remember, nothing is official until you sign the contract, so you can choose to walk away any time before then.

 

If your credit is suffering from financial mistakes made in your past, look no further than our Buy Here Pay Here Financing Department. We work with people like you who have less than perfect credit or no credit at all to ensure that you get a fair deal on a vehicle that you want to drive at rates that are relatively fair. The best way to find out about interest rates and payment is to contact our Finance Department to discuss your options. In fact, you can pick up the phone and Call 602 331-3333 and one of our Service Managers can have you behind the wheel of a vehicle sooner than you think. Our auto and truck Finance Office professionals are friendly and willing to work within your budget to find you a vehicle that best suits your needs.

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