Short guide to buying a new car
Shopping for a new car? Here are a few essentials when buying a new car.
Choose the Right Vehicle
Check our top vehicle lists and read our car reviews, such as top SUVs, top sedans, and top pickup trucks. Narrow your choices and pick a vehicle that best fits your needs. It could be a minivan or subcompact car. Shop online to find the best deals.
Arrange for Financing
Check your credit score or run a credit report. Your credit score will help you determine your credit tier, which will affect you loan interest rate. If you have bad credit you can still find a vehicle that fits your needs and your wallet. It is a good idea to get preapproved for a loan for your local credit union, bank, or even an online lender. Having financing pre-arranged, then you can determine if the dealer has a better interest rate or promotion. Keep negotiations focused on the overall price of the vehicle and not monthly payment.
Get the Vehicle Price, Dealer quotes, and Negotiating Price
Check our site for pricing. Once you have narrowed down to your car of choice, you can get multiple quotes from various car dealers. This may help you achieve the lowest price.
You can call the internet manager at the dealership to verify vehicles options and check if the vehicle has any dealer add-ons. Be flexible on options and colors to get the best deal.
Once you know which vehicle and options you want, contact the internet manager with the lowest price quote and make an offer. Even if the dealers offer is reasonable, it is okay to make a counter offer. It part of the negotiation process.
Schedule a Test Drive
Schedule a test drive with your dealer. Be sure to check how you and/or your family fit in the vehicle. Check visibility and comfort level while drive on the road.
Review Contract and Take Ownership
Some dealers will allow you to review paperwork at home and skip the visit to the financing and insurance office and deliver the vehicle to your home or office. Be sure to call your insurance company and let your agent to determine the type of coverage for your new car. Some agents will provide quotes for multiple vehicles so you can compare payments on different cars.
Review the contact, paying close attention to total sale price, APR, contract length, documentation fees, registration fees, and down payment. Make certain your personal information is correct.
Often times during paperwork process additional products are offered, such as extended warranties and theft-deterrents.
Be sure to walk the vehicle and note any dents or scratches. Make sure the vehicle includes a spare key, original window sticker, and owner’s manual. The window sticker lists the vehicles options and dealer add-ons, which would be helpful if you later sell the vehicle. Most dealers will detail the vehicle and include a full tank of gas. Ask the salesperson any questions about the vehicle, how to operate certain features (like safety features or pairing your cell phone).