If you’ve ever owned a car, then you know what to look for and what to ask when you arrive at the dealership. However, there are those who either have never owned a car, or it’s been a while since they owned one. Both need to know the right questions to ask and for what to look. For these persons, we have compiled a list of what you should know when buying a car.
Know How Much Car You Can Afford First
Before you even go to a dealership, you need to know how much money is involved:
>Will you be financed through a lending institution or the dealership?
>Is your credit in good shape?
>Your monthly payments will be smaller if you pay a larger down payment or opt for a shorter loan term
>Understand the impact of APR of 0 percent against a cash rebate and what the APR means for the life of the loan
What Do You Need In A Car?
Do you need a car to get to work? How far do you have to drive and over what kind of roads? Will you be in gridlocked traffic or flying down the highway? Do you deliver something, or will you drive to a structure and park your car? How you drive, the length of your trip, over what quality roads you drive, and if you park the car or use the car to travel have an impact on your choice of vehicle.
Are you a small car kind of person? Will the car hold up to the points discussed above? Would a truck, SUV, or crossover be a better bargain? When you decide on a car, test drive it along the route you’ll be taking to work. If one vehicle won’t make the trip very well, keep trying until you test drive the car that will.
Check It Out
Now that you have your money all straight, you’ve chosen a car and test driven it, you should check out the car online. Check with Carfax to see if the vehicle has a record of accidents. Check with Edmunds or Kelley Blue Book to know the value of the vehicle. Also, call around to the nearest cities or states to see if the same car sells for less. Then make a decision which car to go with at the price that’s best for your budget.
There’s more involved with buying a car than just choosing red or blue, stick-shift or automatic, and car or SUV. A car is a big investment, so you’ll need to make the best deal possible for both your financial well-being and your physical satisfaction.