The process of buying a new car can be very involving as well as intimidating. Most people are not aware of the procedure and steps followed when buying a car. His article is going to discuss some of the important tips that would be helpful to any car buyer. These tips will help you in saving money and time during the car purchasing process.
Determine your budget
You need to determine the amount of cash you intend to use when buying a new car. According to the financial experts, one should not allocate more than 15-20 percent of his monthly budget to cater for the car’s expenses. You should also remember to factor in the insurance cost since it will be played from your monthly income.
Finding out the price of the car from the dealer
One can use the online sources to find out the prices offered by the different dealers. The sales person can help you in getting this information. A good dealer should provide his price vs the manufacturer’s recommended price upon request. Most of the sites dealing with automotive products indicate that the dealer’s price should not be higher than the manufacturer’s price by roughly $500.
Arrange for financing in advance
You should decide on the financing method to use when purchasing a car. The various options available include lease, loan, and cash. Lease or loan meant for buying a car should be arranged ahead of time. This will allow you to compare the different interest rates which are offered by the various financial institutions. Favorable terms should be secured when purchasing a car.
Doing internet and phone research
You are advised to do a thorough research before you visit the dealers. This can be done using the manufacturer’s sites and websites such as HerHighway and Edmunds. One can also get a lot information by reading the available reviews in those websites to come up with a good model. The reviews can also be used for evaluating the prices.
Inspect the spare tire
Most of the auto manufacturers aim at increasing the fuel efficiency and reducing the weight of the car. You should ensure that the purchased car has a spare wheel on board. You also need to check if the salesperson is having a full-sized spare.
Love the dealer and the car
Ensure that you are comfortable with the dealer who is selling the car. The selected dealer should also help you when you are sourcing for the after sale services. You should also make sure that you get a car of your choice.