We’re going to take a look at the five necessary steps for anyone, regardless of what stage in life you’re in, who is thinking about buying a new car. You will learn how not only to decide what type of car best suits your needs but how to get the most out of your new vehicle and ensure that it’s installed with the right equipment – everything from sound systems and radio antennas, to wipers and tires.
We want you armed with this information before you start shopping so that you prepare yourself ahead of time for both an enjoyable purchase as well as an intelligent decision.
The Five Steps to Buying a New Car
Let’s take a look at the steps.
- Decide on your needs. If you’re already familiar with how much you drive and how far you drive it is best to start with the decision of whether or not you need a new car. In other words, should I choose a used car or new?
Used doesn’t always mean cheaply and while it’s true that when buying a new car you’re most likely going to get more bang for your buck, it’s also true that there are many reasons why one might consider buying used.
- Determine your budget.
No matter if you buy new or used here’s a good rule of thumb, determine what your most important feature is and then figure out how much that will cost, for example, if you have a long commute and safety is most important to you then the cost of maintenance and gas might be more important than the extras.
The bottom line is you need to know what exactly your dollars are buying so it’s best to do an honest evaluation of the extras and how they fit into your budget.
- Get pre-approved for a loan. Remember, a car loan is simply borrowing for personal use and it’s imperative that you are able to afford the payments.
If you’re too far behind on your house note this will impact your car loan just as much as it will affect them financially. It’s also a good idea to get a pre-approval before you start shopping.
What this means is if you show up at the dealership with a credit card but have no other form of financing, they will not be able to give you an interest rate unless they have pre-approved you first. This gives the car dealers some assurance that you won’t default on your payments.
- Shop for cars online or in person with one of our lenders. Do you like the idea of getting a loan from a local car dealer?
Fine, so do we. They provide a more personal experience and often have great prices on vehicles. Of course, being that they are local it also means that you can breathe easy knowing that you’re getting someone who knows your needs and will give you an honest deal as opposed to a high-pressure salesperson at a larger dealership.
If you really feel comfortable with them then go for it, but we want you to get the best deal possible and the only way to do that is by shopping online or in person with one of our lenders .
- Inspect the vehicle thoroughly. The best way to get a good deal on a new car is to learn how to inspect it properly. This will mean putting the car on a lift and taking a good look underneath.
Look closely at all the parts and make sure that you’re not looking at dents and scratches but rather rust or corrosion. If you are buying pre-owned, then you need to be even more conscientious about your inspection.
- Install the equipment you need.
For example, if your car is going to be a commuter and you spend hours in the car every day then install a sound system, XM Radio and any other type of hardware that will make your ride more enjoyable and comfortable.
It’s important to remember that no matter what stage in life you’re in, it’s always great to keep both safety and security as your number one concern. So whether or not you buy new or used there are certain things that should always be checked out by an expert like a trained technician or professional mechanic.