A Consumers Guide to the Hidden Costs of Buying a Car

A Consumers Guide to the Hidden Costs of Buying a CarA Consumers Guide to the Hidden Costs of Buying a Car

You’ve negotiated a great deal on your new vehicle, and are now ready to pay up and drive off the lot. But how much do you end up paying? The Wall Street Journal recently broke down the true price of a vehicle and hidden costs that can be involved. A Consumers Guide to the Hidden Costs of Buying a Car is provided by Byrnes Agency’s Connecticut auto insurance programs. Call us today for a free quote.

Hidden Costs of Buying a Car Tip #1 – Price. The number that you have discussed and negotiated. The price at the top of the contract is the price before discounts and rebates apply. Make sure it is compatible with the MSRP (manufacturer’s suggested retail price); if the deal shows a huge discount but the price is inflated, it doesn’t save you any money at all.

Hidden Costs of Buying a Car Tip #2 – Destination charge. The price a manufacturer charges a dealer to deliver a car to a lot. The price can be incorporated in different ways according to the dealer. Sometimes it is included in the overall price. Other times it is listed separately- this can be problematic it the issue arises after the negotiating period has ended. The fee should also match the one on the window sticker.

Hidden Costs of Buying a Car Tip #3 – Dealer fee. The dealer fee is supposed to cover a range of service related to the purchase of a vehicle, from processing paperwork to prepping the car. Some states regulate it, but other states can run the dealer fee pretty high, even hundreds of dollars. Ask about the fee early so you’re not caught off guard.

Hidden Costs of Buying a Car Tip #4 – Dealer options. You can choose which options you’d like to incorporate into your vehicle. According to AOL Autos, cars are made so well today that “protection packages” aren’t necessary. However, other options, such as a high end infotainment system, could have appeal- these are additional charges to be factored into buying a car.

Hidden Costs of Buying a Car Tip #5 – Advertising/other fees. This cost comes from outside the dealership. It can sometimes be from a regional dealer association which has an advertising cooperative. Dealers might also build in charges for other items, such as filling tires or prepaying maintenance for the life of a vehicle.

The Byrnes Agency provides individuals throughout Connecticut and the country with Connecticut Auto insurance plans to protect against unforeseen damages and injuries. With access to dozens of insurers, we can obtain the most affordable rates for the coverages you need. Contact us today for more information about our Connecticut Auto Insurance programs.