What to Look for When Purchasing a Car

Whether you are buying your first car or your third, it is still a major purchase that needs some consideration. You don’t want to spend that much money on something, only to realize soon after that it isn’t what you want or that it has major issues. There are lots of car buying options which are great for finding a plan that works best for you but can also make getting started feel extremely overwhelming.

If you are considering purchasing a new or used car but aren’t sure how to go about it, here are some of the top things you need to consider before heading to a dealership.

Come Up With a Budget

Purchasing a car is a huge investment, so you want to be sure you are shopping in a price range that you can afford. There are a few options that you can explore to determine what is in your price range. For example, you need to decide whether you can afford to buy a car, pay off a loan over time, or lease a vehicle. If you are looking to purchase a car, you need to decide between a used car and a new car.

New cars are obviously more expensive upfront, but buying a car that is quickly going to have issues could cost you more in the long run. If you don’t want to pay the price of a brand-new car, make sure you do research into reliable vehicles within your price range. Experts recommend that you spend no more than 25 percent of your monthly budget on vehicle expenses. This includes car payments, repairs, and anything else your car needs.

Research Finance Options

We can’t always make purchases when it is most financially convenient, and if you need a car to get to work, you really have no other choice. If you don’t have the money upfront to pay for the car at once, there are financing options available that you could take advantage of. You may qualify for a loan from your bank or credit union or from an auto loan website like myAutoloan.com to finance your car. You can also talk to the dealership about the payment plan options they offer.

With loans and payment plans, you can pay the total cost of the car over the course of several months instead of a lump sum. This is a good option if you don’t have enough money saved to buy the car at full price, but can make the payments each month. Keep in mind that with interest you are probably going to pay more for the car in the end, but if you need the car sooner rather than later it might be worth it.

Learn About The Cars You Want

Car salesmen are there to help you find a car that is right for you, but they are also there to sell you something so you want to make sure to do your own research. Going into the dealership knowing what you do and don’t want out of a car is very important if you want to make a smart purchase. You also want to look into any issues that some of the cars you’re going to look at have had in the past.

You should also have a general idea of the prices, and shopping online can be a great way to start. Dealerships often list their inventory on their websites, or you can use car-buying websites like Carvana and Vroom. Going into your shopping experience will be a lot less stressful if you have made some decisions without feeling pressured by a salesperson.

Roni Davis is a writer, blogger, and legal assistant operating out of the greater Philadelphia area. She writes for a motorcycle accident lawyer in Philadelphia.