Car Loans

Top 15 Tips When Buying A New Car

tips for buying a new car
Written by Shelly Evans
tips for buying a new car

Photo Credit: Wikipedia.org

Buying a new car is not as easy as how advertisements portray them to be. You need all the help you can get from car experts and those that have been through car shopping and buying.

In this article, we have listed the top 15 things you need to know when buying a car, to make it a lot easier for you.

Things you need to know when buying a car:

1. What car you can afford.

We all have preferences of what our next new car should be. But knowing how much money you have will make it easy to choose what car to buy.

2. Lease or purchase.

Owning a car outweighs leasing one. When you own the car, you will get back a good portion of the money you put into the vehicle for the initial purchase when you sell it. With a lease, you don’t have that option. At the end of the lease, the car is still not yours.

3. Narrow down your choices.

Many of us don’t have a particular make and model in mind. Narrowing down your choices to only one or two models will make the car buying process much easier.

4. Assess the cost to own.

You need to estimate the total cost of ownership for the car you are considering. There are many online sites that offer information and advice about costs. Check them out.

5. Always go for the best interest rate.

Shop around and find the lender that offers you the lowest rates. Compare rates first before deciding on which one you will choose.

6. Ask to see the invoice price.

There will always be a markup amount, but you shouldn’t be paying much more than you should.

7. Look for discounts and incentives.

Automakers are always offering “cash-back” incentives. Dealerships offer discounts for almost any reason. If you are in the military, a student or member of a particular credit union or other organization, you might be able to gets discounts when purchasing a new car.

8. Master the art of negotiation.

Learn the tricks of the trade and negotiate a lower price when buying a car. Remember your incentives, discounts and interest rates. Keep them in mind when negotiating.

9. Take a test drive.

Take a long test drive so you will know what the car is like when it is on the road. If you have small children, install a child safety seat and practice getting them in and out of the vehicle. Make yourself comfortable and test all functionalities.

10. Do your homework.

Find out as much as you can about the car and what others think about it by reading online reviews and other informational articles.

11. Right time, right place.

Fall and winter are the best times to buy a new car as dealerships are making room for next year’s models. That means they are reducing the price of this year’s models and are giving out better deals.

12. Compare dealers.

Don’t just run down to your local dealership and make a purchase. Shop around and find the dealership that has the best price, the best customer service and the best after-sale support.

13. Compare warranties.

Most manufacturers offer a considerable warranty on new vehicles. These warranties vary and some dealerships add in their own warranty beyond what the manufacture offers.

14. Use the internet.

Using online resources, research on the car you like and get as much information about it as possible. The internet can be your most important tool when it comes to buying a new car.

15. Follow up.

You have made your purchase and have taken your new car home with you, now what? Make sure to follow up with the dealership and let them know if you are having any problems. This is also a good time to talk to them about your first routine maintenance visit to keep your new car running like new.

About the author

Shelly Evans

Shelly Evans is a freelance writer and loan consultant. She specialize in writing articles about obtaining financing despite having bad credit. She has more than 16 years in consumer credit and collections and 4 years in business financing.

4 Comments

  • One good thing (well, one of the many good things) about the internet is the plethora of car buying websites. New buyers should research quotes online to find, particularly on the websites of the car dealers near them. This is a good way to “shop around” and get a good deal on the car you’re looking for.

  • Great tips guys. I know I could have used them a few years ago when I purchased a new car. I have a lot to learn though as I’ve made a lot of buying mistakes in my life, haha! Anyways I will make sure to follow these tips from now on. Thanks again!

Leave a Comment