8 Steps to Buying a New Car

Are you looking for a new set of wheels? Buying a car is one of the biggest investments you’re likely to make, so it’s vital you make the right decision. You don’t want to spend thousands of dollars only to realize you’ve bought a car that will be more trouble than its worth.

While it may be a very daunting proposition, buying a car is easy as long as you follow a few simple steps. The following 8 steps will help you save money, get the best deal and reduce the amount of stress involved with the purchase.

Do Your Research

Knowledge is a very powerful thing so make sure you’ve done your research before arriving at a car lot. With the help of the internet, you can find out almost anything you want to know about a particular make and model of car.

Be Smart with Your Financing Options

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There are several options if you’ve not got enough savings to fall back on. You may find the dealership is offering a deal or you can approach your bank or credit union for a car loan. Use the internet to review current interest rates and to check whether you’re being offered a good deal.

Shop Around

It’s always best to shop around unless you need a car in an emergency. A good tip is to walk out of at least one dealership, and you might be surprised when you’re offered a rock-bottom price just as you’re about to leave.

Wherever you live, there will be a number of dealerships you can visit, so spend a few days checking them out. Find out more about those in Tennessee here.    

Learn How to Negotiate

Negotiating isn’t something that comes naturally to most people, but it will help you get the best possible price if you learn how to do it. Start with a ridiculous offer and work your way backward. Most important of all, let them know you’re not going to be taken for a ride.  

Consider Both New and Used Cars

Buying a used car always used to be the best way to save money but things have changed. The number of used cars has also decreased over the years, so you’ve not got quite so much choice. New cars are now a more realistic option, so run the numbers before making your decision.

Test-Drive the Car

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Couple testing a new car

Never buy a car without taking it for a test-drive first. You should be able to narrow down your options by doing some research. Take it for a drive a little further than around the block and include the family in the experience because you’ll need to know whether they fit.

Check Prices and Warranties

Before signing on the dotted line, check the price with other dealers. Also, check what warranties are being offered and whether there are any dealership plans.

Close the Deal

It’s usual for the deal to be wrapped up at the dealership. There is another option, however, and that’s making the sale contingent on having it delivered to your home. This can be a great time saver and allows you to close the deal in a more relaxed environment.

Whichever way you decide to do it, make sure you read the contract carefully and check there are no additional charges or fees. Don’t feel pressured into signing without understanding the contract completely. Once you’ve signed on the dotted line, there’s no going back on the deal.

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