It’s that time of year…winter and freezing cold! Every
winter I wish I had a four-wheel drive
car and heated seats! This year though I
think the hubby and I will actually make that happen…and boy I can’t wait!
Buying a car, whether a first-time purchase or a brand new experience can
seem like a pretty daunting task. But once you do a little research and have
some information under your belt you’ll know what to expect and be ready
to find the perfect car for you! Here are some things I’ve come to find that you “auto” know before you begin the adventure of car buying.
Make sure you are getting the right vehicle for you. It seems obvious but you could be wishing for a car that realistically just doesn’t fit your lifestyle or your budget. If you haven’t thought about some of these questions…now’s the time: How many miles do you drive a year? Do you need to haul equipment or need to tow anything? Do you have kids or pets or will you in the near future? Will you need four-wheel drive? These are all questions that will make it easier to narrow down the endless options.
Decide whether a new or used car is a better fit. New cars can be fun because you can customize them and they may have a lot more of the “bells and whistles,” but you might not be able to negotiate down the price to where you want it either.
Assess the worth of your old vehicle. Whether you plan to trade it in or sell, your current car can be an important factor in your budget. Selling it privately instead of trading it to the dealer might mean a sizeable difference. Do your homework and see what N.A.D.A., Kelly Blue Book and Consumer Reports Used Car Guide list as the market value for your trade-in.
Do your research and make sure it’s in your price range. Once you’ve narrowed down your list to a few cars, it’s time to really check them out and look at your options. Make sure you go out and test drive the cars to see what feels right. You might be able to knock one off the list just from driving or riding in it a couple of times. My best friend…the internet…makes it really easy to research all of the features, ratings (including model reports) and prices and lets you compare vehicles side by side to see what is ideal for you. Some good sites to refer to are Edmunds, ConsumerReports.org, CarReview.com, Autos.yahoo.com and AutoBuy.com. You can also use the internet to find dealers near you. Once you’ve narrowed down your choices, visit the dealerships to compare prices and get an idea of what cars are selling for in your area.
Figure out the financials. Okay, so you’ve decided on the perfect car. Are you fortunate enough to pay cash for the car or will you need a loan? If you need help financing, the easiest way to start is to decide how much you can afford to put down on the car and then finance the balance. Remember, a larger down payment = a smaller loan which will result in less interest. The low Annual Percentage Rates (APR) that dealerships advertise on television are the interest rates the dealer charges for financing. Many times those low rates are only for people with perfect credit or they are an introductory rate, meaning they will go up after a certain period of time. Before you do anything, you should get pre-approved at Kohler Credit Union; it’s as simple as going to www.kohlercu.com. It’s a great way to save money and you don’t have to “deal” with the dealer.
Get ready to negotiate the purchase. If you are confident in the process, get bids from several dealers and use your knowledge to keep focus on the dealer’s invoice price and negotiate from there. Know the auto industry jargon so that you understand the process and let the dealer know that you know your stuff. Make sure that before you commit to the car that you find out everything about the history of the car you are about to buy (maintenance, previous owners, any accidents, etc). Remember that if you hate haggling, wasting time or just want an expert’s second opinion, consider using our Auto Resource Program. Our auto resource manager can help make this process much easier and more convenient for you; I know we’ll be using him in our search for the “perfect” car!
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