How to buy a New Car

Following certain steps when you are buying a car can ease the process and make sure you get the best deal.

The first thing to do- assess your budget.  The capital you have will decrease with the purchase of your new car and you need to make sure you can support your decision.

Remember to call your insurance company and get a quote on what a new car might cost you.  Check your credit score before going to the dealership.

Be a step ahead of the “finance guy”.  You can use this site to get your FREE credit report, yes you should know that Federal Law allows you a free copy of your credit report once a year.  *Side note- you are also allowed a full credit report if you are denied credit for whatever reason.

Now that we have completed those steps -budget looks good and credit is okay.  You may have a down payment or a trade in vehicle to use towards your new purchase.

Before you decide on trading in your old car, make you check the Blue Book value to ensure that you get a fair deal at the dealership.  Sometimes you might find that you are better off selling your old car on Craigslist or some other site.

Decide what vehicle you want and why? Check out different cars for their warranty, gas mileage, features, reviews and also what is their resale value.  Make notes on what you want and next research what is available in your area.

My preference is to deal with a dealership that is close to home and I also want to deal with one that has a great reputation.  Check the  Better Business Bureau website to see if their are any complaints about the dealership.

Remember, it’s a bit like a relationship, you’re investing and they will now be tied to you for a while.  Other things to check out is what the costs are in their garage and what services they offer.

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Once you have decided on the vehicle you want and the dealership you want to purchase it from, set a date and get your documents in order.

Have copies of your pay-stub, at least 3 months worth with you, your drivers license and proof of insurance.  Have a note (I love Evernote– crazy about apps), either on your phone or paper with details of what you want.

Note the following; type of car, features I need and want, desired monthly payment, interest rate I can live with and finally decision to be made after the test drive.

If you feel as thought the sales person is pressuring you or maybe showing cars that are not of interest to you, make sure to speak your mind.  Your money, your choice!

A good sales person wants his client to walk away happy.  He or she wants new clients.  Lastly keep good communication with your sales person.

 

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