If you’re looking to buy a car in Newark Delaware, we’d love to help. But let’s start by running through your options. Because getting a good deal means selling your existing car for the best price possible, knowing how to gauge the market, asking for a deal, and choosing the right lender. That’s why we put together a little guide on how to buy an affordable car in and around Newark, Delaware.
How to Buy a Car in Newark Delaware
Step One: Sell Your Existing Car For the Best Price Possible
If you have an existing car you need to sell, start here. If not, skip to to the next step. The idea is that you need to sell your existing car for as much as possible so you can put those funds toward your next one. Despite the fact that a dealership may be interested in giving you a deal on your new car if you trade in your old one, the reality is that this is almost never a good idea.
Dealerships buy back old cars so they can turnaround and sell them for a higher price. By selling your car yourself, you can eliminate this process and use the profits to make your next car even more affordable. Find the value of your car on Kelley Blue Book then post it for sale on a local listing service such as Craigslist.
Step Two: Get The Best Deal on Your New Car
When you go shopping for your new car, those same listing services can come in handy. Person-to-person deals are often more affordable than purchasing from a dealer so long as you have the vehicle inspected for any malfunctions. Make sure to check Kelley Blue Book so that you know if you are getting a good value.
If you decide to purchase from a dealership, you might want to brush up on your negotiation tactics. Know the true value of the vehicle you want to purchase before you go in and stick to that number as possible.
Step Three: Get The Best Financing
Finally, the most important thing to consider if you want to buy a car in Newark Delaware, is the financing. Dealerships often offer auto loans in-house—but for a premium. And they often come with buyout clauses or fees. To avoid this, DEXSTA Federal Credit Union offers auto loans that cover your taxes, tags, service contracts, and up to 100% of the price of the vehicle. Check out our current interest rates and use our loan calculator to see what your monthly payment would be.
Stop by one of our branches for more information or to receive a pre-approval offer you can bring with you while you shop. We’d love to help you find an affordable car in Newark Delaware.