Back to Basics: Car Buying and Selling 101 – Lexington, KY

It doesn’t matter if you’re getting ready to buy a new car or sell your old one. Both seem to take forever! If you’re buying a car, it can be a daylong trip to the dealership. If you’re selling your car to a private buyer, it can be day’s worth of skipped appointments, hours of haggling and overall wasted time.

Never fear, I’ve had to do both many times, and I have tips that can help make the process move faster. The folks at Glenn’s Freedom CDJR asked me to share the basics of car buying and selling, so here goes!

Buying a New Car

•    Make sure you’ve done your research and know exactly what car you plan on buying. Not just the model, but also the different level. Usually, you can get a standard, no-frills series, a mid-range one or premium. For example, if you want to buy a 2015 Dodge Journey in Lexington, you have four choices: An American Value Package, an SE, an SXT and an SXT Plus. Make sure you know which one you want before you even step in the door.

•    Once you know exactly what you want, research the pricing. Check online for, say, current Dodge lease incentives, how much it’s being sold for by private sellers and what the Blue Book value is. The more you know, the better you can bargain.

•    Get your financing done before you walk in the dealership. You can decide how much you want to spend and take an auto loan out at your bank. This saves the waiting around at the dealership to get approved for a loan by them and also shows that you’re serious about buying, but not past your set price.

•    Try to get all the paperwork set up before you even go in. Last time I needed a new car, I identified the one I wanted to buy, called the dealership and had the salesperson get all the paperwork and terms ready for the following week. I was in and out of there in less than an hour.

Selling Your Car

•    Decide how you want to sell your car, whether it’s one of the best dealerships in Lexington (Glenn’s Freedom CDJR, of course) or a private party. If you decide to sell to a dealership, be aware you won’t receive as much as you would from a private seller. It will be much less of a hassle, though.

•    Really, really research the prices. Go beyond the Blue Book and scour advertisements in the classifieds, and take a truly critical eye to your ride. Set your price at least $500 over what you want, but expect hagglers.

•    Be patient. You will get phone calls or emails and everyone will want to see your car… and never show up. Luckily, the right buyer will eventually come. But you have to wait for it. Unfortunately, there’s no way to make this process faster, except by taking the first offer, which will probably be much lower than you want.

 

I hope these tips have helped you come up with a game plan, I know it took me far too long to think this far ahead when I first started getting into buying cars! If you’re looking for a new Chrysler, Dodge, Jeep or Ram truck, stop into Glenn’s Freedom CDJR today and see how fast they can find the best deal for you!