Buying a car in college: A guide to getting the best deal
Editorial November 8, 2019, Comments OffRecently, my car (my beloved, ugly-to-some Lexus SC430) decided that it would leak gallons upon gallons of fuel onto the ground and into the air intake vent. This came shortly after needing an almost $2,000 air conditioning fix, which I could not afford. With the leak, my vehicle was currently getting around -45 miles to the gallon, as the gas dumped into the Kearney St. Walmart parking lot, a very economical thing to happen to someone about to go in to work for $10 an hour.
As I stood looking at the giant puddle of premium unleaded on the ground and feeling slightly high off of the fumes and contemplating setting it on fire, I knew that my car’s time had come–I was about to have to wade into the terrifying depths of buying a used car alone, as a female college student.
After having been called ‘sweetheart’ in a condescending tone by a Mazda dealer I would walk out on, and eventually finding a great family-friend salesman who seemed to not want to profoundly screw me over, I consider myself pretty knowledgeable about the entire ordeal of purchasing a car.
The work before the work
Buying a car–namely, a preowned one–is a heinous process that I would not wish upon my worst enemy. It’s annoying, stressful, time-consuming, and a decision that will impact your life for potentially years to come.
Not to mention, it’s expensive.
Buying a pre-owned car is something that many college students unfortunately have to face, and often during their time in school. Moving to a university can mean moving far away from family–and all of those weekend trips or holiday visits can really put a toll on a vehicle.
Often, freshmen drive cars to their first day in college that they drove the first day they got their license, and sometimes these vehicles are not so reliable. Balancing school, work, athletics, and other personal responsibilities is hectic enough, without the added stress of unreliable transportation.
First, there is the stress of choosing a type of vehicle. Does 4-wheel drive matter to you when it gets icy, or for outdoor adventures? Do you prefer a car that is smaller and gets better gas mileage, but doesn’t have a lot of storage space for moving apartments? You must carefully consider your lifestyle and demands for a vehicle, first and foremost.
Then, you get to move on to what make of vehicle (the ‘brand’) you want to choose. For a college student working off of a limited budget, reliability is key, and certain brands have a solid reputation for their faithfulness (read: Honda, Toyota) even as they rack up the miles.
Other makes of cars, while cult favorites, run the risk of costing you in the long run as they age and require more maintenance (looking at you, Jeep). You must decide if the enjoyment of such a vehicle will outweigh the potential hassle and costs associated with it.
Then, you must choose a model that works for your lifestyle needs. The popular Honda Civic may be enough for some students, but others will want the extra space and 4 wheel drive abilities of a Toyota RAV4. Others will want a sleek car with performance, or opt for a model with lavish luxury, such as a Lexus RC.
Remember, deciding what you want is the fun part, because it does not involve a used car salesman.
The obligatory price tango
So you’ve found a brand you like? That’s great! Your work is far from over. After selecting a make and model, or a general idea of these things, you have to actually find them, within the radius that you’re willing to travel. This can be challenging, and an entire process in itself.
Invest in a Carfax subscription for the particular cars that you’re most interested in–trust me, it’s worth it. If you buy private party, the prices are generally much lower, but you run the risk of buying a vehicle with a sketchy history. While looking at the Carfax won’t entirely eliminate this risk, it can at least confirm that the vehicle was never stolen, has open recalls, or was a flood car.
If you buy at a dealership, the prices are much higher, you’re almost guaranteed to lose money on the value of the car you’re trading in, and you have to deal with car salesmen, but the cars generally have a more transparent history.
Come prepared
From the moment you step outside your vehicle at the car lot, you will be swarmed by hungry car salesmen who race to get to you first. It’s a little Walking Dead-esque, if you ask me. They’ll make small talk to establish you as a ‘friend,’ and then jump right in to trying to rip as many of your hard-earned dollars away from you as possible.
I hope by now, as a person living in the world, that you know that you should never, ever, in any circumstances, EVER pay the sticker price for a vehicle at a dealership. There is a careful negotiations process that you must go through in order to get the best deal on the car. Remember, the dealership paid next to nothing for the vehicle at auction. Don’t be afraid to low-ball and go up from there.
Also, tell them your budget is about $3,000-5000 less than it actually is. Trust me, they’ll be the first to suggest something much higher and you can use this as a bargaining point.
Know how much the car you want–and the car you’re trading in, if you’re going that route–are worth. Print out the Kelly Blue Book value estimates–the trusted source for appraising cars–and refuse to pay a penny more than the ‘fair purchase price’ on the vehicle.
Don’t be afraid to leave and come back another day. If the dealership is high-volume, like Reliable Superstore here in Springfield, know that the car you wanted may not be there the next day, however. There is almost always an influx of great cars in a reasonable price range in a city with a decent population, so you won’t miss out in the end. Wanting a new car, fast, may cause you to make a poor decision in your vehicle purchase.
Make sure to test drive, and point out any flaws with the vehicle. With my car, I made a huge deal out of a broken tail light, a dent in the bumper, paint slightly worn on the console, and some miniscule scratches. These are your bargaining points! I was able to negotiate the tail light getting replaced (around a $200 fix) as part of my buying terms.
Other strong points for your counter-argument could include high mileage, cosmetic defects, or that you simply don’t think that particular year of car is very good. Depending on how long the car has been at the lot and the volume of cars that the dealership sells, you may be able to translate these minor issues into thousands of dollars off the purchase price.
Once you’ve argued and debated and fought with your car salesman, compared prices and trade-in offers at other dealerships, and considered ditching a car altogether and just riding a scooter everywhere, it’s time to finally seal the deal.
Be aware that most warranties are bogus. Make sure your salesman hasn’t slipped an unwanted little warranty in the price of the car. While warranties may sound great, they’re often limiting, hard to understand, and generally a way for the dealership to procure more of your dollars. After all, you did your research and bought a reliable car–so you shouldn’t need the warranty! Even if things break here or there, they’re unlikely to add up to the cost of the warranty.
They’ll try extra hard to pressure you into warranties or add-ons during the final signing process, so make sure you stand firm, as you’re so close to being done.
Congrats! You’ve suffered one of the most profound financial and psychological agonies that human beings can suffer, and succeeded. Hopefully, you have a trustworthy vehicle that you don’t vehemently hate looking at, and didn’t cost you the equivalent of a year’s worth of tuition. You’d think that your wallet is done being reamed for a month until your first payment, but it’s only just beginning.
Now, you just have to pay the sales tax.
Article by Olivia Thompson.
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