Experian released a study on auto debt trends that showed that 24 of the top 25 cities that carry the highest auto loan debt are in Texas. Wallet Hub also released a study ( 2019 Labor Day Weekend Car Sales Survey ) that said 77.5 million Americans are planning to car shop this labor day weekend.
So the conclusion is that there will be a lot of people in the State of Texas buying and financing cars this weekend. How about some tips?
Tip 1 - Go to www.kbb.com and get an idea of what your trade in is worth. They will try and low ball you on the first go around. So make sure you have your shocked face ready to go. One last thing...if you have had any accidents and it shows up on the Carfax report, the car dealer will deduct according.
Tip 3 - Get pre-approved at your local credit union BEFORE you go. They will always give you higher interest rates on financing when you qualify for better rates.
Tip 4 - If you are getting a pre-owned car, do a search on www.autotrader.com and find the lowest price and the highest price on the same model. This will give you a range across the country of the prices of the car you want to buy. I don't trust the car sites that do the research for you. I think you are better off doing your own research. One last thing...if you find a very low price on the car you want, check the Carfax. It has probably been in an accident.
Tip 5 - If you are going to do a lease, have someone you can trust give you an opinion on it. Also read the fine print. Some car dealers are notorious for giving bad deals on leases.
Most importantly, don't start looking for a car without doing your research. Don't forget it is an emotional sale and emotions make for horrible negotiation partners.