Last week I decided to buy a new car. The one I picked out gets
great gas mileage and has a lot of cool features, but the most important thing
is I got an amazing deal on it. For some, buying a new car is a stressful,
drawn-out process, but it doesn’t have to be. One of the biggest challenges is
simply that people often don’t know where to begin; I know I didn’t. I spent a
lot of time and effort asking questions of my co-workers and searching Google.
I wanted to make sure I was as prepared as I could be to make the car-buying
process as smooth as possible. The amount of time it takes to prepare for
buying a car depends on how detailed you want to be but ultimately, the
majority of it can be completed in the comfort of your own home. Because I just
went through the process I want to pass along what I learned to make your
experience easier.
Determine your budget: Before you even
start thinking about buying a new car or truck, you should consider your
budget. Think about how much you can comfortably afford. I knew what I was
paying for my previous car, so I knew I wanted to stay in that payment range.
When it comes to choosing the right vehicle, choose one that fits you lifestyle
needs. For example I knew that because I have a toddler, a sports car isn’t a
good choice right now. If you know you are going to need financing you can
check your credit online at Credit Karma
and get an idea of where your credit score is and what rate you could receive.
Price shop online: Think about it, you
wouldn’t buy the first house you see, right? You’d spend time, do research
through realtor websites and narrow down to the ones you want to see in person.
Well, the same is true with cars. Based on your lifestyle needs, research
different makes and models to find which ones really interest you. Once you
have an idea of what you want, do research on the different dealerships and
find out who has the best price. Dealers often offer an online price that is
significantly lower than the lot price; in my case the difference was $4,000!
Make sure to print out the online listing price and bring it with you to the
dealership. I would recommend calling the dealership before you go to make sure
the specific car you want to test drive is still on the lot.
Research the car: If you found one
specific car online you are interested in, find out as much about it as
possible. You can check the value of the car at NADA or Kelley
Blue Book to make sure you aren’t over paying. True Car can also help by showing you
what others in your area have paid for the same car. Another thing to look at
is an accident report. There are a few different options out there such as Carfax, National Insurance Crime
Bureau and Auto
Check but you may have to pay to use these. There is also Vehicle History which is free to use.
All you need is the VIN (vehicle identification number). The more information
you have about the car, the better! Don’t forget to call your insurance agent
to get a quote on the car so you have an idea of how much your coverage will
cost.
Get pre-approved: By getting
pre-approved for a car loan before you even step foot in a dealership, you know
about how much your payments are going to be. The best part is, you don’t have
to have a specific car picked out to get pre-approved. You can usually call or
apply online at most places and sometimes even get a pre-approval
instantaneously. Pre-approvals generally don’t take too long to complete and
are typically good for 30 days so you don’t have to worry if your first choice
doesn’t work out.
If you have any questions about the car-buying process you
can call 937-859-6260 ext. 2300 and speak to any of our lending center ladies.
They are extremely knowledgeable and helpful with all aspects of the car-buying
process. They made financing my car extremely easy. You can also apply online here.