Buying Car First Time - Tips
Buying your
first car is an exciting step - but it can also be overwhelming and stressful
and is never filled with as much uncertainty as it is the first time. If you
take the time to do a little research before visiting the dealerships, your
first car-buying experience can be a lot less stressful and a lot more fun!
Being a good first-time buyer won't be easy, but if it's worth doing - and it
is - it's worth doing well. We've come up with some tips to help with the
process.
Establish a realistic budget
This figure
is generally based on what you can afford per month. Look at your cost of
living - mortgage or rent payments, food, insurance, social activities. Once
those are calculated, the remainder could be spent on a car payment, fuel, car
insurance and maintenance.
Visit your credit union to get
pre-approved for financing
Before you
fall in love with a car you may not be able to afford, go to your local credit
union. Their lenders can get you pre-approved for financing at a great rate
that fits your lifestyle and budget. You'll also know exactly how much you can
spend, which will give you added negotiating power at the dealership.
Do your research
Informed shoppers are smart shoppers, so
gather some information before you start shopping. Resources like Consumer
Reports, Edmunds and Kelley Blue Book offer helpful vehicle reviews and pricing
information that can help you determine a fair price for the car you want.
Take a test drive
Nothing is more important in your decision
process than how you feel behind the wheel. Take at least half an hour on your
test drive, while trying stop-and-go, freeway merging and freeway speeds. If
the sales person does not have time then take the time to find another
dealership.
Bring a wingman or woman to the
dealership
It's always best to work with a partner. They
can help you decide what car to buy and what to pay.
Negotiate your price
Price negotiation is probably the most
overwhelming part of the car-buying process, but it is important for you to
stick to your strategy. If you've done your research, you'll have a good idea
whether the dealer's offer is fair. Keep in mind that the dealer's first price
is rarely their best price, so don't be afraid to reject the initial offer. If
the dealer can't meet your target price, walk away. Buying a car is a big step
and the transaction has to be right for you.
Buyer beware
Before signing the final contract, ask the
dealer to explain each item. Dealers have been known to include extra charges
for items like "fabric protection," "paint sealant" or
"rust proofing" that may not be necessary. If there are charges
you're not comfortable with, don't be afraid to point them out.
First-time
buyers should also be wary of financing deals that sound too good to be true.
Offers like "0% dealer financing" may sound good, but as a first-time
buyer you may not qualify for these attractive specials.
Most importantly, enjoy the process
We know the tips referenced above can make
buying a car seem daunting, but with low financing rates, and hundred of cars
and trucks to choose from, your options are amazing (especially in the
first-time buyer category). So take your time as you move through the process
and you'll be astounded with the outcome.
With a
little advanced planning, a solid negotiating strategy and appropriate
financing, buying your first car can be a fun and a stress-free experience!
Article Source: http://EzineArticles.com/8928512
