10 Tips For Buying Your Car

Suppose you’re like me and get excited about buying a new car until you realize how complex the process is; then, I will make this process much easier for you. In this blog, I will share 10 tips for buying your car.

1. What is your budget (How much can you afford to spend?)

• Car monthly payments
• Car insurance
• Gas
• Registration
• Maintenance (tires, oil change, etc.)
• Repairs (how much are parts when they need to be replaced)

2. What style or look do you want?

• Color
• Four-door or two-door vehicle?
• Manual or Automatic
• Basic or Fully Loaded
• Leather or Cloth Seats
• Gas Efficiency, Electric, or Hybrid

3. Have you made sure your make and model are in stock?

• Always check your dealers’ online inventory first, send an e-mail, or call to make sure it’s in stock before you visit.

4. Are you looking to buy a used or new car?

• New cars lose 20-30% of their value when you drive them off the lot. Buy the more recent used car; it will lower your loan interest should you need to borrow money.

5. Always check for low mileage before considering the low price.

• As tempting as buying the car for the lowest price can be, always check the mileage! If a vehicle has high mileage, it will begin to experience problems sooner than later that may cost you more in the long run.

6. Are you planning to finance your car?

• Consider Credit Unions over Banks
• Ask if they charge for loan applications.
• Ask if there is a penalty for paying the car off early
• Ask if your credit score qualifies you for lower interest rates
• If you are shopping for the best rates, do so within a 2-week time frame to avoid a hard inquiry on your credit score

7. Always check the car’s history.

• Ask about the vehicle’s car history (make sure it has a clean title and no previous accidents)
• Ask if the car has a dealer warranty.
• Have the vehicle thoroughly inspected by a third party mechanic at an independent dealership

8. Before you buy. Negotiate

• You are leaving money on the table if you don’t try to get the added benefits or have the cost of the car lowered.

9. Be sure to get car insurance.

• Get car insurance ASAP! Be sure to ask the dealer if they offer temporary insurance after purchasing the car until your coverage comes into effect.

10. Don’t settle. Buy what you love.

• Think of your car as your new lover.
• Choose a car that you wouldn’t mind showing off to the world.
• You don’t have to be driving the most expensive car, but choose a car that will allow you to exude confidence whenever you are in it.

Buying a car can be an enjoyable process. If I may leave you with one last piece of wisdom, never buy a car you haven’t physically seen and have test-driven. If you have a bad feeling about the car dealer, ask for another one, or visit a new dealership altogether.