What Is The Best Way To Buy A Car?
Admit it: Don’t you love the chance to practice mindfulness in your daily car commute to work? Or, don’t you love cruising down the highway listening to your favorite songs on a weekend road trip? Whatever stirs you up, there is no doubt owning a car is a necessity. The convenience that comes with it is priceless. However, in today’s harsh economy where affording a car is becoming harder by the day, you’ve to be extremely savvy with your personal finances to acquire one. But if you’re ready to make the step and wondering what is the best way to buy a car, wonder no more.
In this article, we’re revealing top 5 tips to buy that car you’ve always wanted!
Doing Your Research: Read Expert and Consumer Reviews
You probably know this.
Cars come in different shapes, sizes, colors and, importantly, mechanical prowess.
As such, the first step to buying a car is to do your research and find the best one for your needs.
If you’ve got specific models in mind, dig online and discover what experts are saying about them. Are they reliable? Have there been any recalls? Are they easy to drive? How about fuel economy?
Also, talk to friends or relatives, or find someone who owns one and know what they think about the car.
Getting Your Finances in Order: Cash or Financing?
Buying a car in cash simply means going over to a dealership and paying for it outright, just like you were buying a mug of cappuccino!
When you choose to finance a car, it means you’re securing it on credit. You’ll make an initial deposit, followed by monthly installments until you clear the loan.
On the surface, cash seems the more financially sound decision of the two, because you’ll avoid the interest charges that come with loans.
However, cash isn’t always the better decision. Since new cars are usually costly, many buyers can’t afford them. Yes, financing will cost you more money, but it gives you the muscle to purchase a better car that will last much longer.
If you need a cheap car to use for errand running, you should probably buy in cash. But if you need a better car you’ll use in the long-term, but can’t afford it right now, go ahead and finance it!
Finding a Dealer: Avoid Getting Scammed
Don’t just walk into the nearest dealership because your car pick is in stock.
Some dealers have a reputation for swindling customers, so do your research and find a honest and trustworthy dealer.
Watch This Short Informative Video To Learn A Simple Tactic You Can Use To Successfully Buy A Car
Test-Driving the Car: Ensure It Meets (or Beats) Your Expectations
On average, Americans hold onto their cars for about 6 years.
For this length of time, you want to ensure your car will always perform to your expectations. And the only way to know this is to take it out for a test drive, regardless of whether it’s a new or used.
Is it easy to enter and exit? Are gauges and controls easy to read and operate? How about the sitting? If you’ll be carrying cargo, does it have enough space? Is it a joy to drive?
Remember, if your daily commute is hilly, your seller should allow you to test drive it on hilly terrain.
Closing the Deal: Bring It Home at the Best Price
Even though dealers advertise one price, they usually come down a bit. But for this to happen, you must turn on your negotiation skills a notch!
Be firm, but don’t adjust your budget upwards if the seller doesn’t meet your price. Simply move on to your next option in the list. Or, if you already have another car, this is the best time to negotiate a trade-in.
Finally, work out the paperwork and pay attention to the details. A dealership will probably handle the paperwork for you, and a private user car seller will need to transfer the car’s title to you.
Final Thoughts on What Is the Best Way to Buy a Car
Buy a car, especially for the first time, is a big deal.
You must strive to get everything right, from research to title and registration.
At Credit Squared, we’re all about answering you what is the best way to buy a car that makes both you and your bank account happy.
If you any questions, be the first to shoot in the comments section below!
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