It’s understandable to be cautious when making such a large purchase as a car. When you find the perfect car, you don’t want to take any chances that it will be sold before you’re able to buy it. So, how long can you expect auto car holding dealerships with a deposit?
Different dealerships have different rules, but usually, they will hold a car for one to five business days with a deposit. Of course, the bigger the deposit, the more likely they are to hold the car for you. Be sure to talk to your dealer about their specific policies regarding deposits and holding times so there are no surprises. With a little planning and communication, you can be sure to get the car you want without any stress.
Car Buying Tips To Outsmart Dealerships
How to Negotiate the Best Price on a New Car?
At different dealerships, the amount of time a car will be held after a deposit is placed may vary. However, most auto car holding dealerships typically hold cars for 1-5 business days after a deposit is made. If you have questions about a specific dealership’s policies, it’s best to ask them directly for more information.
How to save money at the dealership
Forget Payments, Talk Price
will try selling you to a payment per month rather than the price of a car. And when you go that route, nothing in the transaction is as transparent as it should be. Extending your loan period for a more expensive car will give you a lower monthly payment, but will probably mean you’re making car payments once your new car is no longer a ‘new’ car. It’s better to buy what you can afford in 48 or 60 monthly payments. In short, get your new car paid off while it’s still a new car.
Control Your Loan
For many dealers, the car or truck sale is simply the mechanism for the financing. And even with today’s low interest rates, dealers can make real money off interest alone, a disincentive to giving you a truly competitive interest rate. Getting pre-approved for a loan before you walk in the dealership door will let you know exactly how much you can afford, often at a better APR then the dealership can offer.
Avoid Advertised Car Deals
Dealerships will list their very best deal in the paper or online with little or no intention of keeping that specific deal in stock. Don’t be enticed by a car or truck you won’t be able to buy. Instead, do the research on the car you want and what it should cost. Starting out armed with information, via sites such as Auto blog’s Best Deal Program makes you a savvy consumer and, ultimately, provides a better, more credible transaction.
Don’t Feel Pressured
Buying a car is a major purchase, one that – in all likelihood – you’ll have for quite a while. And given your long-term commitment to what you buy, there’s no real need to rush it. Make the choice when you’re ready, and only when you are ready.
Keep Clear Of Add-ons
Add-ons are lucrative; if they weren’t the dealer wouldn’t modify new cars to include them. And there’s always another product or warranty the dealer wants to sell you, but they add up fast and (generally) aren’t worth the money. If, however, you intend to hold onto your car beyond the factory warranty coverage, an extended warranty – at a fair price – remains a good decision.