Besides buying a house, buying a new car is the biggest purchase you are likely to make. With the cost and extensive list of options, this process can be understandably stressful. To help alleviate that stress, you should be as prepared as possible before making a final decision. This checklist will serve as a template to help you make the right choice.
Research Brands
Your decision-making process should begin before you even set foot on a lot. Doing your research beforehand can eliminate most of the stress of buying a new car.
If you are buying a luxury car, you will want to see how brands are ranked these days. You don’t want to waste money on a Mercedes-Benz if you can get more just by visiting a new Cadillac dealer.
Likewise, if you are focused on your budget, you should get the maximum warranty without having to pay an extra. Only a few brands offer long warranties. At a new Hyundai dealer, your purchase will come with two extra years of the limited warranty and five extra years of powertrain warranty.
New luxury sedans and SUVs at a Scottsdale AZ Genesis dealer also come with this really long coverage . Of course, you need to check the fine print, but that’s some incredible peace of mind.
What Type of Car Do You Want
There are a lot of choices out there, so narrowing down your search to a general size and type as well as specific features is an essential step. You can do this as you research brands.
Car Price Considerations
Before you get to the lot, research online sites to determine fair market prices for the vehicle you are interested in buying. Know your budget and stick to it. A free payment calculator can help you decide what monthly payment you can expect.
Automotive Financing Options
You may have a specific financial institution you are comfortable using to make big purchases, such as your credit union. Car dealerships often offer in-house financing and may have special interest rates and promotions. This is often the easiest and most cost-effective approach to new car financing.
Cost of Operating Your Vehicle
While your monthly note is important to your budget, don’t forget to factor in other operating costs. Remember that gas mileage, maintenance costs, and insurance can also vary depending on the model.
Check Your Credit
Your credit score can go a long way in determining your financing options. Check your credit before heading to the dealership to know where you stand.
Come Prepared
You will need to bring several items with you to complete your purchase. Be prepared to show documents such as your driver’s license, proof of insurance, and proof of income.
Investigating the Car on the Lot
Now that you are ready, it’s time to head to the dealership. Doing your research beforehand is essential, but checking out the car in person will give you a better idea if this is the right choice for you.
Check Out the Details
Hopefully, this car will last you for years. So make sure it’s a good fit for you. Are the seats comfortable? Does it have all of the features you expected? Does it have the storage capacity you require?
Test Drive
Map out an area around the dealership that will test the car’s abilities. If possible, choose a route similar to the one you will be driving daily. Be sure to check out how responsive the brakes are. How does the car handle? Are you able to comfortably and safely park and back up as needed?
Negotiating the Deal
You’ve found the car of your dreams, now it’s time to get the deal of your dreams too. Now you have completed research and know the price you are comfortable paying.
Be Confident
You’ve done your research. You know what you’re willing to pay. But car dealerships are businesses looking to make a profit. While they would love to sell you a car, there is a price they want to sell for and a price they are willing to sell for. Don’t be afraid to walk away.
Check for Deals
During certain times of the year, dealerships may be running promotions with special discounts or financing options. Do not hesitate to take advantage of these deals as they may save you thousands.
Trade-in
The salesman will ask if you have a trade-in vehicle. You should get information on how much your car is worth before you go to the dealer. It’s an easy process with this online trade-in evaluation tool.
Fine Print
After you have negotiated the purchase price, you still have work to do. The details included in your contract are paramount as well. The down payment and added fees information can quickly add up.
Counteroffer
If your salesman’s price isn’t what you expected, don’t be afraid to make a counteroffer. Even if the price is what you were willing to pay you should counter. You may get an even better deal than you were expecting. There are often more luxury car deals than there are for regular brands.
Conclusion
This checklist is guaranteed to prepare you for buying a new car. We understand the importance of getting the most for your money. Find a local car dealer and start your search today!