5 Simple Steps to Buying a Car
Are you in the market for a new car? Yet, the thought of going looking, dealing with going to the dealership, even dealing with financing have you feeling overwhelmed.
It doesn’t have to be that way. You can make it much simpler than you are imagining in your head.
Follow these 5 easy steps to buying a car and be ready to drive away in your new wheels.
- Evaluate Your Finances
Before looking for cars and getting all excited for something you can’t afford or be scared by the sticker shock. Slow down.
Before looking at cars take a close look at your finances. Make sure you have a budget and know how much you can afford for a monthly payment.
You also want to consider how much down payment you can put together. The more money you have for a down payment, the lower you can keep your payment.
Also, consider what it will cost you for insurance and routine maintenance.
- Arrange Financing and Get Prequalified
Now that you have an idea of what you can afford, it’s time to talk to the bank or credit union.
You don’t want to go looking at that shiny new car and then not be able to get the financing to bring it home.
The bank will evaluate your credit, your down payment amount and your income and pre-approve you.
Once you have a pre-approval you’ll know what interest rate you’ll get and the payment you can anticipate based on how much you can borrow.
- Do Your Homework
Again, before you head straight to the dealership, it makes sense to do some research. Consider these questions:
- Do you hope to buy a new or preowned?
- Do you want a car, truck or SUV?
- How many miles do you drive on an average day for gas mileage considerations?
- Do you need to have space for hauling or kids?
Then you should start to research makes and models that fit in your budget and would meet your needs.
- Take a Closer Look
Now that you have narrowed your search, you’re ready to visit a dealership like Chapman auto dealerships.
You know what you can afford and what your needs are going to be. You’ve also already done your homework and have likely narrowed down to certain models of car.
Having a plan before you go into the dealership will prevent you from looking at something you can’t afford.
It’s smart to drive the car where you would normally drive it, in the city or highway, to get a feel for it.
- Finish the Deal
Once you’ve found a car, the rest should go quickly, especially because you have already arranged the financing.
Negotiate the price with the dealer. If you are buying a pre-owned car, consider if it’s worth having your mechanic take a look at it.
You will need to get a license for the car. Usually, the dealership can do this when they transfer the title. You will also need to call your insurance company as you can’t get financing finalized without proper insurance.
5 Easy Steps to Buying a Car for You
Just like that, you have new wheels. Follow these easy steps to buying a car and you’ll not only get a car you can afford, but also one you’ll love too.
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