I'm buying a car. When do I get financing?
It is always best to try to arrange financing in advance of negotiating the terms of the actual purchase.
Do factory orders cost more?
Factory orders should cost no more than buying a car from dealer stock. You may run into problems with rebates or incentives, however. If a rebate or incentive is scheduled to run out at approximately the same time your car is scheduled to be delivered, the dealer may delay delivery of your car.
When is a car considered used?
A car should be considered used when it has been titled, or when it has been used by the dealer's staff for demonstration purposes. If a new car has excessive mileage on it, you should ask for a discount to your negotiated price.
What would be a fair deal?
The standard industry formula is to find the invoice price plus all options and destination charge, subtract any rebates or incentives and add three per cent for reasonable dealer profit.
Are dealer-installed options such as
rust proofing, paint sealant or fabric protection necessary?
No. New cars are covered under warranty against rust. Washing and waxing your car regularly will ensure that the finish stays like new, and you can protect your fabric using any number of commercially available solutions.
Who determines the residual value for a lease?
The bank or lender handling the lease.
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