Buying a new car is usually an exciting time.
However, the stress, pressure and difficulty that comes with finding a new car can make the process very overwhelming. It really pays to do your research beforehand, so you can eliminate any potential problems that arise with purchasing a new car. It would also help if you knew what to consider when buying a vehicle.
Thankfully, here are some great tips on buying new cars that will certainly help you buy a car.
Five Tips for Buying Your New Car
Reduce as Much Debt as Possible Beforehand
Make sure most of your debts are taken care of first. This means getting rid of any credit cards with balances, paying off student loans or other loans (like for your first car) as much as possible before buying a new car. A good rule of thumb is not buying luxury items – like flashy new cars – until you’ve paid off a majority of what you owe.
Crunch the Numbers to See What You Can Afford
Figure out how much money you can afford per month for car payments and insurance. Do not forget to include gas when you are putting together your monthly budget. This, of course, is subject to what you will be buying your car for in terms of price. You can also decide on buying used or new based on how much money you have to spend in total on purchasing a car. Crunch all the numbers together, and you’ll get an estimate of your monthly costs.
Research the Ideal Make & Model for You
Once you’ve decided on a car that fits into the criteria that I listed above, then it’s time to research the best model and make. There are many great websites that allow you to put in the make and model of the vehicle you want, your preferred price range, and they generate results that give you great buying options. You can also take advantage of car buying services that streamline the searching and buying process for you. Just remember, if buying used, always get an inspection by an independent mechanic with experience before buying the car.
Make a List of Your Favourites
Compile all your favourite cars into one list, and compare and contrast what each of them offers. Does one offer better fuel efficiency than another? Does one vehicle have better performance than the other? Making a list can streamline what you’re really looking for in a car while also shortening your list to the cars you want!
Negotiate the Best Deals!
Once you’ve decided on buying a vehicle, it’s time to negotiate the buying price with the sales representative. You should never buy a car without negotiating the buying price first. Always offer lower than expected and try to wiggle some extra bonuses as part of the deal (winter tires, longer warranty, free fuel etc.). You’ll be surprised at how the salesman will try to help you get a good deal!
Test Drive Your Cars
You won’t know if you like a car until you start driving it! Test driving is one of the most important factors in buying a new car, so make sure you take it for a spin. Try all the features within the vehicle (Bluetooth etc.), performance (such as brakes, speed and steering) and on different roads (highway and rough patches). This way, you’ll get a feel for how the road is.
Take Advantage of Any Programs!
Whenever buying or leasing a new car, you should always take advantage of any programs that can make it easier for you. We’re referring to examples such as through your work (you’ll get a company-backed car), insurance deals (you’ll get better deals), and even special discounts provided by the manufacturer. This is why research is important: you can find a program that works for you, saving you time, money and hassle!
Buying a car is definitely an exciting time in one’s life, but at the same time, it can be very stressful, especially if you’re buying a new car for the first time. Follow these easy tips when buying cars so that you are ready for whatever may come during negotiations, the search and the number-crunching. Remember, the more research you do, the better you’ll get a car that suits you!
Good luck with your search!