How to Buy A Car: Follow these 6 Steps to Get the Best Deal
Buying a car should be straightforward with internet car shopping, competitive pricing, and the ability to browse cars at your fingertips. However, that isn’t always the case.
Today, we will provide you with a simple five-step process that will teach you how to buy a car, so you end up: - The right vehicle for your needs - A car that fits your budget - You select a car that is going to last you long term
1. Start With a Budget
Here is where most people go wrong – they start with the car they want, not the budget they follow. When purchasing a new or used vehicle, beginning with the type you want is reasonable, but everything should stem from the budget.
Budgeting for a car is vital. After housing expenses, automobile expenses are the most costly budgetary item for adults.
2. Settle the New vs. Used Car Debate
On the one hand, you have the fiscally conservative folk who recommend purchasing preowned to save money on dealer markups. However, on the other hand, some will say with the competitive used car inventory in 2021 (and no sign of slowing down in 2022), a new car isn’t going to cost that much more. Not to mention, a new vehicle comes with a manufacturer’s warranty.
The Case for a Used Car: - From a fiscally responsible position, never buy a new car. - Brand new cars depreciate 20% in just the first year - Put another way – a $40,000 car is worth $32,000 at the end of the year The Case for a New Car: - A new car often comes with a warranty - New cars have upgraded technology and energy efficiency capacities
3. Factor “Other” Costs of a Car
After roughly one to two months, the newness of your car wears off, and at that point, it becomes something you use to get from point A to point B. Keep in mind that there are other costs of purchasing a car to always consider that shouldn’t go unnoticed.
Once you take care of the first two, the steps to buy a car are relatively simple. 1. Figure out what you can afford. 2. Decided whether you will go with a new or used option 3. Select the car you want
4. Select the Right Car
How to Setup a Test Drive:
Test driving a car is a must, but avoiding a car salesperson is also a top priority for some if they’re browsing. The key to navigating the overly ambitious car salesman is to call ahead and schedule a test drive with the internet manager.
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