If you are finally ready to get rid of that old car and into a new one, then you will need to think about a few things before you commit. A car is a major purchase and not one that you should go into blindly. There are a lot of factors to consider before you should even go to a car dealer. Making the wrong choice is a mistake that will stay with you for years.
Make sure that you are armed with information before you go and you’re less likely to make a mistake. In this article, we will go over what you should know before you go out and buy a new car.
1 – Know when to buy
Saving money when buying a car is very important. It’s a major expense so finding some smart ways to shop will help you save on the initial cost. For instance, knowing when to buy is going to save you thousands, potentially.
The trick is to try to time when you go to the lot just as the dealer has new vehicle inventory. At the end of the year, the new cars for next year will be brought to the lot. There is usually not enough space for all of the old stock plus the new inventory so this is a great time to find a deal.
Dealers eager to unload their old stock are usually willing to drop the price considerably. If you can haggle a bit then you can easily negotiate a few thousand off of the sticker price.
2 – Set a budget
It is very easy to overspend on a new car. You can find yourself falling in love with a model that is over what you can reasonably afford to spend. The trick is to set a budget for what you can actually spend and then stick with it.
Calculate what your monthly payment limit is and then work backward to see what the highest-priced car you can afford within that range. Then, you are able to figure out what type of car is available for that budget.
You also need to factor in the down payment and how much you want to advance which is also going to affect how much you finance and what you can afford.
3 – Think of your lifestyle
What you need to use your car for has a bearing on the type that you should get. For instance, if you are mainly just commuting then a sedan that gets good gas mileage is the best bet for you.
If you are an outdoorsy type that loves to camp then something that has enough cargo space for your gear is essential. If your campsite is located where you have to drive over some dirt roads to arrive then an SUV with 4-wheel drive is essential.
Take some time to make a list of the ways you plan to drive your car and it will become clear what type you need to buy.
