A new year sometimes means a NEW CAR! When buying a car is an important purchase so make sure you are prepared.
Here are some TIPS to help you buy a new car:
- Know Your Budget– you need to know how much you can afford every month and your downpayment. Don’t go car shopping BLIND! If you go in not prepared then you might be walking out with something you don’t want or can’t afford. Be careful and prepared. Remember to figure in the monthly payment, insurance, fuel and maintenance costs.
- Know your Credit Score- knowing your score is essential to getting the financing needed. New car financing and most of the cash back deals are typically for top credit users. If your credit score is poor make sure you have a bigger downpayment. Also, if you can correct any credit blemishes before buying a new car than please try to do that before heading to the dealership. If your credit is good then negotiate better terms.
- Don’t Only Look at the Payment. Try to look at the BIG PICTURE! You need to look at the total cost, interest payments, and other loan fees. Take the total cost of a car, multiply it by the monthly payment by the number of months in the loan, and then add the amount of your down payment, plus any taxes and fees. Have a calculator on hand.
- Do Look at Dealership Deals. The dealership and manufacturer might have deals that might give you cash back, lower interest financing and if you are lucky other discounts. Check on the dealership website before heading there to see what they are offering at this time of the year.
- Sign Papers Without the Kids! It might be hard to go into the dealership without the family since you want to make sure they like the vehicle too. However, kids get antsy and want to go so you might be rushed. Buying a new car should never be rushed. When signing papers you want to be able to look over and read all of the information.
Check out Reedman Toll Auto Group for NEW CARS and they will be able to help you get into the car of your dreams.
Remember having knowledge, patience, positive attitude and the ability to walk away if you don’t like the deal or vehicle. These are best tools in the new-car-buying process, and they can make the difference between getting a bad deal and an excellent one.
Please let us know any tips you have for buying a NEW CAR!