FICTION: In order to qualify for auto dealership financing, you must purchase an extended warranty at the time of purchase. Salesmen often hint that spending more money on an extended warranty or other add-ons will help you qualify or save on financing at the car dealer.

FACT: Don't fall for this sales ploy. Purchasing add-ons or an extended auto warranty will never increase your chances of being approved for dealer financing. Qualifying for financing depends on three numbers and only three numbers: the purchase price of the vehicle, your down-payment or trade-in and your credit score. Take your time and look for the best warranty coverage, from a reliable company and at a fair price.

Labels: car-buying, extended-warranty

Car Buying? Knowing the best time to buy a car can give you a huge advantage. The sales staff at most car dealerships operate on a quota system, where they receive a bonus each time they hit their next sales goal for that month. So, if a car dealer is coming up on the end of the month and he's a few cars short of that next target, he or she has an incentive to get the sales manager to knock down the price of a car in order to hit that car buying quota.

Car Buying Tips: There's another reason to look for a deal near the end of the month. Car dealerships themselves also have monthly quotas to hit. If they meet or exceed their sales goals, the manufacturer may allocate more vehicles to that dealership. That gives that car dealership a larger inventory and more vehicle choices for their buying customers. If they don't meet their goals, the manufacturer may cut back on that dealership's incoming inventory of vehicles until the excess inventory is sold.

Car Buying Help: Car sales managers are more prone to shave a little off the car's price if the end of the month is looming and their sales goals have not been met. This is good information to know when buying a used car or buying a new car or truck.

So when is the Best Time To Buy A Car? Happy Hunting!

Labels: car-buying