At the dealership
What to expect at the Buick dealer.
You know your budget and your financing options. You've done research on incentives and the vehicles that are right for you. Now, you're finally ready to visit the dealership.
Here's an overview of what you should expect when you arrive:
- You'll be approached by a Buick sales associate.
- They'll ask what vehicle(s) you're interested in; and feel free to tell them what your budget and financing plans are, too.
- They may ask if you'd like to test drive a vehicle.
- You may spend time discussing colors, options, available incentives, and mileage limits (if leasing).
- You may negotiate the APR and other terms such as down payment and number of payments.
When you feel you have enough information to make your decision, you'll sit down with your sales associate or finance department and:
- You'll complete a credit application; they may also request a credit report.
- If purchasing a vehicle, you'll sign an Installment Sale Contract between you and the dealership.
- If leasing a vehicle, you'll sign a lease agreement.
- If your vehicle is on the lot, you may actually take delivery that very day.
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-If your credit application is approved and you agree with the dealer on the final terms and conditions, you're ready to buy or lease.
Negotiating the terms.
Whether you buy a new or used vehicle, finance or lease it, you should always negotiate the terms that best fit your budget. But remember, your ability to negotiate will depend on your credit history.
To be able to negotiate wisely, it's important to do your research ahead of time. This includes knowing the prices and rates being offered in your area. Just as you negotiate the price of the vehicle, you must also agree upon the APR and the terms for payment.
Completing a credit application.
Even if you're not 100% sure of the vehicle you want, you may be asked to complete a credit application. That means:
- The dealership will obtain a copy of your credit report.
- This will contain information about current and past credit obligations (like credit card balances and school loans), your payment record and data from public records.
It's always a good idea to know your budget and know your credit score before you visit a dealership. That way, you can you negotiate a rate that's best for you.
Need more help getting ready for the dealership? Visit GMAC's SmartEdge website
The cost of credit expressed as a yearly rate.
A special payment from the manufacturer to the customer towards the purchase or lease of a new vehicle. Also called an "Incentive."
A written request for credit.
A report about you and your payment history gathered by a credit reporting agency in an organized manner.
A numerical score that sums up-at a point in time-what your past and current credit usage predicts about your future credit performance based on statistics. The better your history of credit, the higher your score.
An online financial education center available through GMAC that helps you manage your credit, live within your budget, and get SmartEdge certified.
A special payment from the manufacturer to the customer towards the purchase or lease of a new vehicle. Also called a "Cash rebate."
The number of miles per year agreed upon in the lease agreement - usually 12,000 to 15,000 miles.
Manufacturer's Suggested Retail Price. Sometimes referred to as "sticker price," MSRP represents the manufacturer's recommended retail selling price for a particular vehicle at a particular trim level.
Registration fees generally include any use taxes, license plate costs, and other vehicle fees assessed by your state government. Registration fees are determined by your state department of motor vehicles, not automakers or vehicle retailers.
Depending upon where you live, one or more taxes may be levied on your vehicle. Sales tax, use tax, property tax, and other government fees might be applicable, so be sure to talk to your local department of motor vehicles or vehicle retailer if you have tax questions.
A legal document that ownership. Depending on your state of residency, the fee for the title and the time in which you must obtain title may vary.
Your trade-in value is how much your current vehicle is worth. This value may be higher or lower depending on the condition of your vehicle, equipment, and local market conditions.