Buying a car can be an emotional roller coaster. Excitement, anxiety, and anticipation can be overwhelming and may lead to regrets and bad decisions. Thus, here are 7 simple steps to follow if you are planning on purchasing a new car.
1. Identify your needs and budget - With the different make and models, one may have a hard time choosing the car to purchase. Some of the things that you should consider are the following:
- What is the purpose of your car? Is it for personal, family or commercial-use?
- Where will you use it? Is it for city-driving, off-road, long-distance travel?
- What is the size of the car? Do you have ample parking space?
- How many seaters do you need?
- Do you prefer automatic or manual transmission?
You can easily narrow down your search by visiting a reliable car dealer's website such as https://www.cars.com/. Maximize their filter and search tools to help you out.
2. Review future costs, maintenance, and resale value. Once you have chosen a car, find time to research more about it and its future costs.
- Are spare parts readily available in your area?
- Is the maintenance labor-intensive or expensive?
- What is its current rating or review from current owners?
- Does it have a good resale value?
3. Determine your "target price."
After you are convinced that it's the perfect car for you, then the price becomes a deal-breaker. Make sure to set a "target price" that is within your budget. You have to make sure that you still have money after making the big purchase. Remember your car won't run without gas.
4. Choose your payment terms and trade-in price (if applicable)
- Are you trading-in an old car?
- Are you planning to purchase in cash or installment? or lease?
- What are the ongoing interest rates?
- How long is the payment period?
5. Check special offers and promotions
Don't forget to check your dealer's website or social media account for special offers and promotions. A lot of instances, car dealers offer cash rebates, lower interest rates, freebies or extended warranty and additional insurance coverage.
6. Test Drive
Just like buying shoes, you have to feel and try it to know it's the perfect fit. Never purchase a car without testing it whether it's brand new or pre-owned.
7. Lastly, Negotiate and Close the Deal
When everything is just right, don't forget to ask your dealer or agent what else can he offer (e.g. more discounts or freebies.) Make sure you have the right documentation and arrangements. Then, be ready to take home your new car.