Do’s and Don’ts of Car Buying
The Do’s and Don’ts of Car Buying
Buying a new car can be a very exciting process. However, it’s easy to get swept up in the new car smell and up-to-date technology, so here at Cumberland Chrysler Dodge Jeep Ram FIAT, we wanted to give you a list of the do’s and don’ts of buying a new car. Keep reading to make sure you don’t make the common mistakes and not get the car that best fits your lifestyle.
1. Do Know Your Needs
In order to find the perfect vehicle for you, you should begin by selecting the type of vehicle that best suits your lifestyle; convertible, minivan, sedan, coupe, compact car, etc.
2. Do Research
Once you’ve settled on the type of vehicle you want, make a list of what’s important to you. Research various models and makes that give you all the amenities and features that you want.
3. Do Know How Much You Can Afford
Creating a budget can be the hardest part. You may have found the vehicle that fits you perfectly, but finding one that you can afford can be difficult. When purchasing a new vehicle, it’s best to put about 20 percent down, limit the term to no more than 60 months and keep your monthly payment below 10 percent of your income. Plus, you’ll want to make sure you consider the cost of maintenance. Some cars cost more than others.
4. Don’t Trade In A Car That’s Worth Less Than You Owe On It
Negative equity can be a burden. The balance of your old loan may be consolidated into the new car’s loan amount, meaning you could be paying the debt of two cars in one, big loan. Get ahead by researching what your trade may be worth.
5. Don’t Rush Your Test-Drive
Take your time with the test-drive to make sure you actually enjoy the car instead of just enjoying the feeling of a new car. Ask questions, play with the various features and look around the vehicle. Make sure the car has enough space for everything you need.