Before You Buy: A Car Buying Checklist

There are actually four areas to consider when buying a car. You must determine:

  1. The vehicle you need (versus want)
  2. The value of the vehicle (what it’s worth)
  3. The financial considerations for the purchase (how you’ll pay for it)
  4. and the mechanical integrity of the car (is it mechanically sound)

Of course, there are a few differences between each make and model, but we’ll cover the broad brush stroke of topics as a bulleted checklist.

Car Buying Checklist: Determining the Right Vehicle for You

When you shop for a car, there are nice-to-haves and must-haves. It’s up to you to decide which is which. If you live in a temperate climate, you may decide that air conditioning is a nice-to-have. On the other hand, if you live in Dallas, Texas, or Gwinn, Michigan, air conditioning and heating might be more of a necessity for summer or winter months, respectively.

Likewise, if you often do business from your car or take kids on long road trips, you might consider built-in Internet service a must-have. If, on the other hand, everyone in the family has their own phone or tablet with Internet access, a built-in Wi-Fi hotspot would be needless.

Create Your Perfect Car. Do your homework and visit the automaker’s website to see features available on different makes and models. Make a list of what you want in a vehicle. The vehicle you ultimately purchase may not have all of the nice-to-haves. But it should have all of the need-to-haves. If you make a list, you can find the best fit to match your preferences.

Determine What it’s Worth. There are several sites to determine value. Edmunds, and Kelley Blue Book are popular sites to assess vehicle value based on its features and condition. If you have a trade-in, be sure to determine value of your existing vehicle as well, because it will be part of the deal.

Determine What You Can Afford. If you plan to pay cash, the decision is easy. If you plan to finance your purchase, however, your credit score directly impacts the interest rate of your loan. Credit scores below 690 generally incur higher rates. Remember, the cost of the car is not its price tag minus any trade-in value and incentives. It includes the interest paid on financing any loan. Financial literacy sources like The Financial Acumen Course teach how to improve your credit score to save you money. It’s up to you to protect your credit and avoid being exploited by predatory lenders, so shop around. Don’t over-extend yourself on credit by buying more car than you can afford.

Inspect the Vehicle Before You Buy. You want to buy a reliable vehicle, not a maintenance headache. Any used vehicle purchase is a buyer-beware situation, even if through a reputable dealer. If you have a mechanic, expect to pay something between $100 and $200 for a thorough vehicle inspection. If you don’t have a mechanic, there are a couple of stop-gap alternatives. You could take the vehicle to a third-party repair shop that performs state inspections as a cheaper option. Or, if you’re comfortable and knowledgeable doing so, you can inspect the vehicle yourself. Among other things like the brakes, muffler and suspension, check the oil. You can tell a lot about the condition of the engine by looking at the condition of the vehicle’s oil.

Doing a self-inspection on a vehicle takes a little time. It’s dirty work, but if you’re familiar with cars, it’s your cheapest option. The pre-purchase inspection is a must for both peace-of-mind and for reducing hidden repair costs.

Once you have found the best-fit vehicle, ensured you have the means to pay for it, and checked its mechanical integrity, you’re ready to move forward with your new set of wheels.

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The Ultimate Guide to

What Entails the Best Deal on a Car

In a year, most countries sell over seventeen million cars. This means that a lot of people are able to find and then buy their dream cars. It is certain for a person who is ready to purchase a car to get a bit overwhelmed at the thought of negotiating with a sales representative. This is so because purchasing a car is usually a great deal and one feels the need to buy the right car for themselves while at the same time get the best deal possible. It is recommendable that a person to does their homework first before stepping foot into the dealership since this guarantees them of getting the best deal possible.

It is crucial that you pick a firm that understands the type of car you want and at the same knows they should be aware of the cars cost since this will ensure that you will play catchup in front of the salesman. It is usually vital that you are aware of the worth of your vehicle beforehand, before trading it because this will ensure that you get a fair price for it. Since you already know what you talking about it will be quite hard for people to trick you into buying a car at an unfair cost.

It is vital that you get pre-approved first before you do a serious search on the internet or take your dream car for a test drive. By doing this, you will be aware of the number set that you can afford and then shop for it accordingly. This will make sure that a person is not left felling worse because you love a certain car and was able to buy it. If one shops at the right time of, they year, they are likely to save on huge sums of money. One of the ways you can get the dealership is by being knowing the seasons when the prices of cars are going to hike and when they will fall. The seasons you should avoid buying a car so as to get this dealership is during holidays and popular gift buying seasons.

One way to get the dealership is by keeping your phone in your hand since this will makes the dealer to think that you are double checking everything they says and this will make ensure that they are honest with you. One way of getting the dealership is by making sure that you are respectful and not rude to the dealer all the time. By being respectful, you will ensure that you get into the dealership when both you and the dealer have good feelings for each other.

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