226 Anzac Avenue, Kippa-Ring, QLD 4021

10 Mistakes – Shopping Monthly Payments

Hi. Bob Aldons from Car Business again, with advice on cars and everything automotive. Here’s the 5th mistake that car buyers make when buying a new car and it’s about monthly payments.

Be well armed with facts

Walking into a showroom and telling the salesperson your budget is dangerous.

Typically, a household will sit down together after they’ve made a decision to buy a new car to work out their budget. Mum and Dad will determine that they can repay an amount on a car loan and then off they go to the dealership of the brand they’ve selected. The greatest mistake they’ll make is telling the salesperson how much that monthly is. You see, a smart salesperson will tailor the car they want to your monthly payments and everyone, at least from the dealership perspective, wins.

The salesperson will price the most profitable car, the business manager will go for the highest interest rate and the aftermarket salesperson will include all the ‘extras’ that you generally don’t need. The best way, however, is to not let anyone know how much you can afford – let them work their prices out first, you negotiate as best you can, but let them work hard for their money. You never know, that budget you worked out could be lowered by a lot.

Car Business is a multi-dimensional automotive company that aims to help you to buy your new car for a better price than you can do on your own. Based on the Redcliffe Peninsula about 15 minutes from Brisbane Airport and 30 minutes from the Brisbane CBD, Car Business is located in an area that allows us to pick and choose from Brisbane’s finest new cars for sale. The ‘go to’ Brisbane car buying agents, Car Business, is so much better than a car broker – first and foremost, Car Business is an experienced Car Buyer’s Advocacy service. Our experienced staff will stand alongside you, and act on your behalf to help you buy your new car at a better price than you can directly through new car dealers.

 

5) Shopping monthly payments

Car buyers generally know how much they can afford to spend on a car with finance. The financiers will stop you from getting out of control, but the banks and finance companies are taking an educated risk on you. They know what your capacity is at the full amount of borrow. Banks will still try to stick you with life insurance, gap insurance and motor vehicle insurance so buyer beware. You should always do a budget for yourself. In that budget calculate the cost of that next holiday, what happens if one of the income earners get sick but you should always avoid the temptation to overextend you.

Buyers should know how much they can budget for their monthly payments, but resist the temptation to make that the basis of the negotiation and especially don’t share that number with the sales staff. Instead, negotiate the actual sales price of the new car first, independent of down payment, trade-in, and financing arrangements. Handy online calculators (including one at the esanda.com.au) and phone apps will convert loan balance, term, and interest rate into a monthly payment for you. A dealer who knows you’ll buy at a certain payment may offer tempting financing deals with monthly payments stretched out over a longer term, but you’ll end up paying more overall.  Always look at the total amount paid including deposit, trade-in value, and any residual to determine what’s affordable.

Monthly Payments revealed up front make it easy for the dealer

New Car Showrooms are Unfamiliar Territory for most new car buyers

Every article I write is targeted at providing as much information for car owners and prospective car buyers.

Above anything else, Car Business is a company that provides automotive advice for car owners who don’t have access to experts. Am I an expert? I’ve been in the car business for over 38 years, and while there are areas where I’ll reach out to friends and acquaintances for advice, I’ve got a pretty good grasp of most aspects of the business. I’ve been called a lot of things in my time – Car Doctor, Car Professor or The Car Guy, but whenever someone wants some sensible advice, they call me.

I don’t charge for advice, whether it’s on the phone, via email or face to face. I’m happy to provide my expertise whenever I can. So if you want to chat to The Car Guru, get in touch.

I have access to good quality cars – you can see them on Cars Guide. Just click here [Cars Guide] to view our current stock of vehicles.

Other parts of my business that you may find the need to use from time to time are:

www.genuinespares.com.au. This is an online spare parts store for Chrysler, Jeep, Dodge, Alfa Romeo, Fiat, Volkswagen and Isuzu Ute. I’ve got thousands of mechanical and panel parts plus Mopar (Jeep, Chrysler, Dodge, Fiat, Alfa) T-Shirts, tyres, and alloy wheels as well. If you’re looking for a hard to get replacement part for any of these brands, or you just want to get a better price than retail on any car brand, let me know. And you won’t pay inflated replacement parts prices either. I’ve priced my stock at a discounted value to compete with the USA and Europe spare parts prices but with local delivery charges

We’re local agents for Williams Paint and Interior Protection as well as AutoGard and CleanGard car products and SunX window tinting. The Same story applies. This is an area that car dealers want to make an amazing amount of profit – up to 100% in some cases. Don’t get ripped off by the franchise car dealers – check us out for a local competitive price on car protection products, window tinting, and engine products.

I’m pleased to advise that in 2015 I was awarded the franchise for 1800Approved Finance. As a local finance company, we’re able to provide a better level of service than the local car dealers as well as pretty competitive rates. SO before you sign on the dotted line, let us compare rates on finance and insurance for you – no obligation. If you’re looking for finance for a new or used car, or any other worthwhile purpose, our company can assist – even if you’ve had some troubling financial issues.

BLOG – I write a new Blog for my website a couple of times a week. If you’d like to read some of the stories I’ve written just click here.

If you ever need that advice, reach out. My contact information is:

Phone:                   0418 748 498

Email:                    info@carbusiness.com.au

Visit:                      226 Anzac Avenue Kippa-Ring Queensland (by appointment only)

Mail:                      PO Box 195 Clontarf Q 4019

Web:                     www.carbusiness.com.au

Warm regards and remember to drive carefully

 

Bob Aldons

#carbusiness #thecarguy #bobaldons #newcars #racq #nrma #racv  #bestcarprice #discountnewcars #carbroker #carbuyersadvocate #carpayments

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