Extended Vehicle Warranties

2015-Cadillac-Escalade-004-medium

Have you ever heard a strange noise coming from the engine compartment while just trying to get somewhere one day, when your car was no longer under the manufacturer’s warranty? Immediately you’ve wondered if this is a minor issue, or if it is going to bust your monthly budget or do more damage! A small repair on a car can cost hundreds of dollars these days!

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How much should I pay for my new car?

2015 Dodge Challenger R/T Plus

Are you thinking about getting a new car? Fortunately as a consumer, you have many resources that you can consult to help you get to a price that is fair for both you and the dealer you are purchasing the car from. Hopefully this article will serve as a useful tool! Let us explain four different vehicle pricing tools you’ll find online:

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How much is my car worth?

From the Wall Street Journal Online:

That three-year-old car sitting in the driveway may not seem so exciting anymore, but to some car dealers it could be gold.

Informed shoppers with well-maintained cars to trade in have an unusual opportunity to take advantage of what industry analysts say is a record peak in used-car prices. Resale and trade-in values for late-model vehicles in good condition have been rising all year as demand has outstripped supply, particularly for fuel-efficient models.

Among the forces driving up used-car values is a shortage of many popular Japanese models due to production slowdowns following the March earthquake. And the sales collapse during the 2008 and 2009 financial crisis means fewer two- and three-year-old cars are available.

The National Automobile Dealers Association last week raised values again on many small- and medium-size cars in its latest Used Car Guide, which is widely used by dealers when deciding what to offer for cars taken as trade-ins.

A one-year-old Honda Civic that NADA’s Used Car Guide valued at $14,275 in May is now estimated to be worth $15,950. “The same car,” says Jonathan Banks, NADA’s executive auto analyst.

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The Lack of Haggling about Car Prices

There used to be a time when buying a new car meant a lot of negotiating on the price. There was a constant haggle over everything from the sticker price to the add-ons. The haggling has always been a frustrating part of car prices, but that appears to be changing.

The truth is, the car industry is changing, focusing their attention on getting people into cars, rather than driving them away with pushy salesmen. What companies are doing is taking some of the issues out of negotiating.

They have started this process simply by getting more information out to you, the consumer, about what the price of the car should be. With so many resources available online that will tell you what the manufacturers suggested retail price is and even allowing you, in certain circumstances, to find out what the dealership markup is, car sellers are playing by the book and giving honest prices. This is giving the customer a level playing field with more buying power, and is helping car retailers gain the trust of consumers.

Another thing that is being changed is the add-ons. For years automobile add-ons were a negotiating tactic of the seller; they would offer to throw in packages for free in order to close a deal. But, but those days are no longer. In today’s market virtually every car maker is including traditionally add-on features as part of the standard packaging. Things like GPS, an MP3 player hookup, and certain safety features are all standard, leaving less room for the seller to up sell and a lot less power in the negotiation.

What the car companies are hoping for is a spike in the sales of their product. Even the used car market has been trying to take the haggle out of car buying in efforts to boost the industry back where it belongs.

  

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