When it comes to buying cars many would have to agree that men might have the edge. It has nothing to do with intelligence or ability. It’s only for the fact that men tend to have more experience and practice in this area. That isn’t to say that women can’t learn to be just as shrewd as men in this area. For the single mother, being able to negotiate the car buying process is quite essential. Every penny saved is money that can go back into other essentials for her family. In this article we will attempt to help with this fact as we offer some tips on buying cars for single mothers.
Try to make a list of what you need before even stepping into a dealer’s showroom. Have a good idea of the type of car, features and above all price. Dealer will try to get you to purchase what they want, not what you need. Remember these people work on a commission so the more they sell the more they make.
Another tip on buying cars for single mothers is to do some research. Compare prices of various models and investigate features. www.cars.com is a fantastic resource to do some comparison shopping. Find out what people are actually paying for the cars you are interested in, don’t just go with the sticker price.
Even if you know the sales person well keep in mind that business is business. It doesn’t matter if they are your best friend, brother or sister; they are there to make money. That isn’t to say that all sales men are dishonest crooks but they are likely going to put their financial interests before yours. Do your research and negotiate hard.
Try to get your financing pre-approved through your own bank or credit union. This will serve two purposes. First, you are far more likely to get a better rate of interest through your own institution that through what the dealer offers. Second, you’ll have a piece of paper with a number on it with you when you walk through the door. This will reduce the chances of them trying to push more car then you can afford on you.
Consider all your maintenance costs. You may want to think long term on this as well. Remember what fuel prices were 5 years ago compared to what they are now? You also need to consider costs for repairs and insurance. These extras need to be budgeted in before you sign on the dotted line for that car.
Now if you are trying to get funding, there are a couple ways to go about this. Most people will need to take out a car loan of some sort. You can get one through the bank or through the dealership. Credit history is a big deal here — if you have bad credit, it will be difficult to secure a vehicle, though it’s possible if you put a large downpayment. If you can’t secure a car loan through one of these traditional mediums, you can look at some of the bad credit auto loans available online — these are specifically tailored for people who don’t have good credit.
Buying a car is a bit of an art form and over the years men tend to have gotten more practice with this than women. However, there is no reason that women cannot become just as savvy as men in this area. By following the tips for buying cars for single mothers you’ll be well on your way to securing your first good deal.