Hyundai Car Purchasing Tips

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    10-Aug-2014
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    Automotive

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One of the biggest decisions that you need to make when purchasing a car for the first-time is between purchasing or leasing your Hyundai.

Transcript of Hyundai Car Purchasing Tips

  • Hyundai Car Purchasing Tips In order to make a well-informed decision about your first car purchase, such as a new Hyundai model, here are 10 tips that will help you. These tips include: decide whether you want to buy or lease your new Hyundai car; understand how much car you can afford; research the type of car that best meets your needs; locate a dealer; look for deals and savings; test drive the car of your choice; negotiate the price; understand your options for purchasing the car; look at (and consider) all warranty options; and, understand the dealerships return policy. Choose Between Buying or Leasing One of the biggest decisions that you need to make when purchasing a car for the first-time is between purchasing or leasing your Hyundai. The pros to ownership include the fact that you keep the car as long as you want, you are not restricted to the number of miles that you are permitted to drive during the life of car and you are free to do as you wish with the vehicle under your ownership. The benefits of leasing include lower monthly costs since it costs more to finance a vehicle because you are paying interest charges, finance charges, taxes and depreciation. You also have greater flexibility in returning the car for a newer model with the need to sell or find a buyer for your existing car. You should compare and contrast the costs associated with both buying and leasing a car before you decide which option is best for you. Understand How Much Car You Can Afford The amount of car you can buy is based on several determinants. How much of the vehicles total purchase price can you defray with a down payment is one of those determinants that will affect your new car buying decision. The more you can afford to put down, the lower your monthly payments will be. For example, a car that has a cost of $15,000 with a $2,000 down payment on a 48 month loan at 5% will cost you roughly $299 a month in payments. The same $15,000 vehicle purchase with a $1,000 down payment with the same loan terms would cost you $23 more a month or $322. You should also be aware that most financial professionals recommend that a new car purchase should not exceed 36% of your net income.
  • Research the Type of Car That Best Meets Your Needs There are plenty of resources available to you online for obtaining information on the type of car you are looking to buy, such as a Hyundai. Many of these resources are objective, third-party websites and sources that can provide you with an unbiased opinion of the different types of cars that you determine are within your budget and meet your driving needs. You want to make sure that you look at the vehicles safety crash test ratings and the availability of certain safety features, such as side impact airbags and antilock brakes. Locate a Dealer Finding a dealer is not a difficult task however finding the right dealer for your car buying needs may be a little more challenging. The qualities you want to look for in an auto dealer include a large inventory of new and used cars, a friendly and inviting showroom and a professional sales staff that can assist you and answer your questions. Look for Deals and Savings Whenever possible you should look for rebated, incentives and other advertised savings associated with your new car buy. Many manufacturers, such as Hyundai, will announce the availability of certain discounts and savings designed to entice you into purchasing their cars. A recent incentive available for the 2014 Hyundai Elantra provides a discount on the MSRP listed price of $19,010 of $428 for an invoice price of $18,582. Although the incentive is set to expire, often manufacturers will renew their program. Test Drive the Car of Your Choice It is always advised that you test drive the vehicle whenever possible. Taking your new car on the road in order to get a feel for how it performs and handles will allow you to confirm your decision to make the purchase or look at another purchase option. The test drive should provide you with information about the controls, adjustability of the seats and the availability of enhanced features such as Bluetooth wireless connections. Negotiate the Price You should understand that the listed price on a vehicle can be negotiated. Ask the salesperson about any manager specials or deals that may be offered. This may be in addition to any rebates or incentives that are already in place.
  • Understand Your Options for Purchasing the Car Whether you choose to buy or lease, you should ask for the different options available for your new car. You may find that financing your purchase through the dealership may be easier than going through your financial institution. Compare rates and choose the option that gives you the best deal at the lowest cost to you. Look at the Warranty Options New cars will come with a standard warranty cover certain parts for a limited period of time. If the amount of coverage provided is not sufficient, you may consider purchasing an extended coverage warranty. Understand that this type of decision will result in a higher cost added to your purchase price. Also, be aware that a service contract is not the same as a coverage warranty. Service contracts (which may be marketed as an extended warranty) are optional and should only be considered if you choose to do business with the dealership for your service and repair needs. Understand the Dealerships Return Policy A source puts the value of depreciation of a new car at nearly 20% once the vehicle leaves the dealership. If you find yourself having buyers remorse after you made the purchase and are looking to return the car, you should inquiry about the dealerships return policy. You may be able to get out of a deal and only have to pay a small restocking fee, provided you do not damage or violate the dealers return policy. Whether you are purchasing a new or used Hyundai, Hyundai of Greensburg is your top source for Hyundai cars in the Pittsburgh area. With over 15 years of experience and an experienced sales team, Hyundai of Greensburg provides outstanding service and customer satisfaction and can help you drive off in a new Hyundai today. For more information, please visit our website at www.greensburghyundai.com or call our representatives at 888-229-2177.