Alliant Members: If you get Alliant estatements, your 2016 tax forms will be available electronically in Alliant Online Banking.
Get upfront pricing, guaranteed savings, and a discounted rate on your auto loan. Members save an average of $3,279 off MSRP.
Have an extra $1000 or more you won't need soon? Open a certificate vs. risking it in the volatile stock market.
The all-new Alliant Mobile App is now available on both iTunes and Google Play.
Return to The Money Mentor Blog
By Cait Klein, NerdWallet
August is the best time to buy a new car, according to a TrueCar study. Deals on vehicles in the old model year abound as dealerships start making room for the new fleet. August transaction prices are on average $1,850 lower than those in December.
Still, you’ll need to negotiate to get the best deal on your new car. If the thought of haggling for the right price makes your stomach turn, below are some tips to get you started on the right road.
Finding the right loan provider is just as important as finding the perfect car. Shorter loan terms and good rates are important factors. Credit unions often offer loan rates that are nearly half those offered by banks and are flexible for customers with poor credit histories. Beware of dealer financing, which can be more expensive.
After deciding on the perfect vehicle, choose the right dealership for the sale. Get quotes from several dealers, asking about the invoice price and any incentives or deals.
Part of asking for the right price is knowing the dealership lingo. http://www.consumer.ftc.gov/articles/0209-buying-new-car Here are a few key terms you’ll need to navigate the showroom:
After picking a dealership, beware of dealer-related fees under the dealer sticker price that are not on the factory invoice. Make sure those are the first things you try to cut in negotiations. It can also be useful to check out the resale value of the car using tools such as Kelley Blue Book.
Even if you can’t buy a car in August, timing your purchase right can help you save. Dealers feel pressure to make their sales quotas at the end of the month or end of the season, so shopping at these times can lead to major deals.
Catching a car salesperson at the end of the day is a great way to seal a deal quickly. It also helps to be the only person shopping, so head out during the week, when fewer people are out searching for cars.
Weigh the price of the various add-ons and whether you really need them.
If finding the right car still feels overwhelming or haggling isn’t your strong suit, consider using a car-buying service that can help avoid stressful negotiations.