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Once you decide on a comfortable budget, you will want to figure out what the vehicle price should be. The vehicle price is what the car cost, before you add taxes, fees & financing. This will allow you to search for the right car, without the costs being higher than you would like.
When paying for a vehicle, your total cash cost will be inclusive of:
When financing a vehicle your vehicle price and fees are the same However, your target budget is typically a monthly payment and will also be affected by loan interest, loan term, and down payment. I suggest you use a loan calculator to see what vehicle price your target budget will allow. (See video below for a payment calculator breakdown)
By working backwards from your total vehicle cost, you can make sure your target vehicle cost fits your budget.
How to use a payment calculator to find your target vehicle price.
Fees vary state to state, but unfortunately many dealerships add additional bogus "fees". These "fees" have many names, "Prep Fee", "Internet Fee", "Reconditioning Fee". These fake fees are not a service you are being provided, but a way for the dealer to add additional profit. SOME OF THE MOST SLIMY Dealerships will advertise a price lower than they are willing to sell it for, then once you arrive at the dealership hit you with these extra fees.
The best way to avoid extra fees is to
Pay Attention
Read Everything
Know What Fees Are Real Taxes, Documentation, Title & Registration
Use The Vehicle Price Cheat Sheet To Help Keep Track Of The Numbers
How to recognize bogus dealer fees.
Utilizing the information in the Master Class, I was able to save $6000 on my Tesla purchase!
The information in this course helped me and my wife confidently purchase our first car together.
With the information in the master class I was able to confidently walk into a dealership and know I was walking out with a great deal.
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