5 Car Buying Tips that Will Put You on a Roll
With all of the bad economic news, it might be hard to imagine yourself buying a new car right now. For many, however, the old reliable just isn’t cutting it anymore. Maybe the repairs are getting frequent and costly, or maybe your lifestyle requires a different type of vehicle.
Whether you need a bigger car, a more reliable car or a more fuel-efficient car, now could be a great time to get into the car buying mode. But before you commit to a San Luis Obispo auto loan or set foot on a sales lot, follow these easy tips to help make the best decision:
#1: Determine How Much You Can Afford
This seems logical, but the smell of a new car under the bright lights can cloud your budget judgment and it is all too easy to overspend. The “gotta have” feeling can be overwhelming.
Affordability is more than just the size of your San Luis Obispo auto loan payment. You have to consider the cost of fuel, insurance and maintenance.
#2: Shop for the Best Auto Loan Rate in San Luis Obispo
Most of us need to borrow money to buy a vehicle, but be sure to locate the best San Luis Obispo auto loan rate before you begin your new vehicle quest. Most financial institutions will pre-approve you for a specific rate and loan amount without any obligation.
Be sure to check your local institution web sites and carefully read the fine print. Some vehicle manufacturers 0% loan offers, but these may only apply to certain vehicles and customers with only the best credit. Just make sure you are informed.
#3: Select the Right Type of Vehicle
With your budget figure firmly in hand, begin your search by selecting the type of vehicle (passenger car, SUV, pickup truck, etc.).
Once you determine the type, consider all manufacturers. Each manufacturer will have detailed information on their website about safety, reliability and performance. Check them all and then make your final list. For your own sanity, keep your list reasonably short–not more than 5 specific vehicles on it.
#4: Finding the perfect fit
New or nearly new, there are dozens of resources to help find the right vehicle. You can use online sites, newspaper or print classified ads or listings at your work location. Even word of mouth can be a great source of information. Once you have located a few vehicles that fit your criteria, test drive each one of them. You might be surprised at how different each car can be.
#5: Getting the best deal
If you are shopping for a new car, look for a dealer that has a wide selection of the cars you are considering. That will give you the greatest flexibility in color and feature selection. You can save a lot of time by shopping on the phone first.
However, be sure to get the total price of the car, including any add-ons features such as security alarms, exterior/interior protection coating, etc. There can be a big difference between the M.S.R.P. and dealer sticker price. Don’t be afraid to ask!
While the process of buying a car can be daunting, you want to feel good about your purchase. There is nothing like the feeling of knowing you got the best car, for the best price.
