Buying a new vehicle is a big purchase decision. Like any major purchase, you need to be an informed buyer and do your research before heading to the local car dealer. There are a few important steps you need to take to get the best deal possible on the right car for you.
1. Do your research
It’s tempting to buy a car that’s easy on the eyes instead of buying a car that’s practical for your lifestyle. Make a list of what you need in a car versus what you want in a car. If things like safety, size, cargo space, and reliability matter most, start researching car options that fit the list. It’s always a good idea to research consumer reports about the cars you intend to test drive to learn about any recalls or buyer complaints.
2. Find financing
Once you narrow down your list of potential cars, there are two things to consider: do you want a new car or a used car, and do you want to buy or lease? You need to look into what financing options are available to you based on your credit report and income. Keep in mind that your credit score directly impacts the interest rate you receive on the loan amount which impacts your monthly payment.
Use a monthly loan payment calculator to determine your car loan payment and determine how much you can afford to spend. From there, you’ll want to get preapproval for an auto loan from a lender such as a credit union or bank.
Loans.com has a quick approval process that can be completed in a few short steps. Your personal information, credit history, and amount of down payment factor into the loan term and interest rate offered by a lender. Getting car loan pre-approval gives you the confidence to go car shopping knowing that you can manage your monthly car payment.
3. Take your time
Once you have received your auto loan preapproval it’s time to go car shopping. Shop around at several car dealers and compare prices. Don’t be afraid to ask if the price of the car on the ticket is the best price the dealership can offer. Potential buyers with a prequalification may get a price reduction if the dealership thinks they are serious about making a purchase.
4. Remember to negotiate
Buying a new car is a great time to practice your negotiation skills. Try to negotiate for what you think is a fair price in a firm but polite manner. Never feel obligated to accept an offer especially if it doesn’t align with the monthly payment amount you can manage. Car dealers will likely want to beat a competitor’s price so be open about shopping around at other dealerships when negotiating.
5. Maintain your dream
A new vehicle is no small purchase, so make sure you are prepared to maintain it. Keeping your car parked in a dry, secure place will help keep it in good condition should you decide to sell it one day. No matter what the make, model, and year your dream car is, keeping your car safe in a garage gives you peace of mind that nothing will happen to it.
And if you don’t have a well-enclosed garage at your house, it might be time to consider enclosing your carport or updating your garage door. It sounds like a big task, but it doesn’t have to overwhelm you. For instance, RW Garage Doors is the Bay Area’s premier garage door company providing years of excellent garage door service. Their expert technicians can handle all of your needs, whether simply replacing a garage door spring or installing a new garage door. They guarantee the best deal on services, and offer warranties on parts and labor. To learn more, you can contact the professional staff for a free consultation at rwgaragedoors.com today. Even if you don’t live in the Bay Area, do a little research into local companies and see if your friends have recommendations. There are likely similar services available in your area.