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Getting the Best Price When Buying a Car

*Catherine Alford is a sponsored partner compensated by OneMain.

These days, you can get a great deal when buying a car while also making the process faster and more enjoyable. Family-finance expert and sponsored partner Catherine Alford shows us how to buy a car without the stress.

See video transcript...

SO, you want to buy a car.

In the past that might include:

  • driving to a dealership.
  • test driving cars.
  • playing good cop / bad cop to get the best price.
  • negotiating
  • signing a stack of paperwork...

and driving home several hours later exhausted.

These days, you can make the process faster and still get the best price when buying a car.

Here’s how:

Do your research

Check accident reports, look online to compare what a dealer bought a car for with the price they’re selling it for. Find out if a car is selling at above or below its Kelly Blue Book value.

Secure financing ahead of time

When you shop for an auto loan ahead of time, you can get several different offers and approvals from different financial companies. This allows you to select the best rate and terms for you.

Plus, you’ll know the exact loan amount you’re approved for, which can help inform the type of car you can buy.

Buy used

As soon as you drive a new car off the lot, it loses 10% of its value right away. Even buying a car that’s a few months old is better than buying new.

Lastly, remember it doesn’t hurt to ask.

I bought my most recent car at $1,000 under the Kelly Blue Book value, but I still managed to get them to shave off another $250 from the purchase price just by asking.

At the end of the day, you can get a great deal when buying a car using these tips without the stress of buying a car the old fashioned way.

This video was posted May 14, 2019. For more sponsored videos, visit our YouTube channel.

The information in this article is provided for general education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness or fitness for any particular purpose. It is not intended to be and does not constitute financial, legal or any other advice specific to you the user or anyone else. The companies and individuals (other than OneMain Financial’s sponsored partners) referred to in this message are not sponsors of, do not endorse, and are not otherwise affiliated with OneMain Financial.