• Know Who You're Buying From.
A used car can be a great deal, but be sure to buy from a reputable dealer. Buying from a “curbsider” or unknown private seller can, and probably will, cost you dearly.
• Know Your Numbers.
Get accurate values on what your vehicle is worth as a trade-in or its average asking price. Also, understand the depreciation of vehicles you are interested in by finding out which ones traditionally hold their values best.
• Know Your Incentives.
Take time to research what deals and manufacturer incentives are available. They are plentiful, and chances are the manufacturer will be offering something on the vehicle you want.
• Know Your Budget And Finance Options.
Often dealers will offer on-the-spot approvals with low rates.
• Know The Negotiation Process.
Always be prepared to drop a few tidbits about brands and models other than the ones you are interested in. It not only makes you look like a more educated buyer, it is also a valuable part of Negotiation 101.
Are you ready to take a test drive? Before you do, educate yourself so you'll be more comfortable with the process and your eventual purchase, whether it's a used vehicle with a few nicks and scratches or a brand new one right from the showroom.
Josh Bailey is vice president of research and editorial at canadianblackbook.com.
Read our other articles from Canadian Black Book:
Use Canadian Black Book For Reliable Trade-in Information
Canadian Black book Rates Vehicles With Best Trade-in Values