what to know before buying a car

10 months ago 20

Buying a car can be an exciting but overwhelming experience, especially if its your first time making such a big purchase. Here are some things to know before buying a car:

Establish a budget: Before you start researching makes and models or applying for financing, its important to know what you can afford to pay. Establishing a budget looks different depending on whether youre paying for the car in cash or financing the purchase.
Get preapproved for financing: Getting preapproved for a car loan from your bank, a credit union, or an online lender before you set foot in a dealers lot is a smart move. It prompts buyers to think about a crucial question: "How much car can I afford?".
Test drive for comfort: Test driving a car before purchase helps you to assess the vehicles performance and handling. Its your chance to check out the cars technology and convenience features and make sure the vehicle meets your expectations.
Compare, compare, compare: One of the best and easiest things to do as a prospective car buyer is to know what other vehicles are available on the market. Once you know how much you can afford and what exactly you need, you can start to shop around.
Understand the total cost: Knowing the total cost of the specific car you want rather than just the sticker price is important in getting you the best price on any vehicle. You should also factor in the cost of insurance, maintenance, and repairs.
Negotiate price first: At the dealership, start with the price of the vehicle you are buying. The salesperson will often want to know if youre planning to trade in another car and whether youre also looking to get a loan through the dealership. Dont buy any add-ons at the dealership.
Prepare for repairs: If you plan to buy a used car, take it to a trusted mechanic for an inspection. An experienced automotive technician can look for signs of damage or poor maintenance that arent usually visible to potential buyers.