Are you getting the best deal? | Find me a Car


If you’re like me, you purchased your first car either while in high school or shortly afterwards. Did you get the best deal? It likely wasn’t pretty by any stretch of the imagination but it served a purpose and was always there for you. You took care of it, washed it and kept up the maintenance and not only did it last you through college but it was still with you when you walked down the aisle and said your “I dos”.


You found yourself married with a decent job and thinking about starting a family. Good for you, you were on the right track!


Then came the day that you realized it was time to reward yourself and trade in old faithful on a shiny new car. You did your research, read the reports, got quotes from a couple dealers and went in to complete the transaction.  Was the deal the “best deal”? Did you go out specifically looking to finance the car? Did you explore your lease options? Was there another way to pay for the car?


You may have negotiated the best price but did you pay for it the best way?


There are more options available to pay for your new car than ever. The financial crisis years back turned the world of the captive finance companies like GMAC, Ford Credit and Chrysler Financial upside down. They now find themselves competing with traditional banks for your new car business.


Many dealers will have 3 or 4 options on every vehicle. Sometimes the purchase is not the best way to pay and the lease makes more sense based on rate alone and other times it’s the opposite. Sometimes it’s a Hybrid of the two like GM’s SmartPurchase program that is a purchase on paper but gives you the option to return it at 3, 4 or 5 years.


When looking to purchase a new vehicle it is a smart idea to compare all of the options available and not get fixated on any one specific method of payment. Just because you’ve always leased doesn’t mean it’s the right way this time.


Take your time, work with someone who’s willing and able to explain all available options and make a smart decision that works best for you.


Happy shopping!