You have one of life’s major milestones looming before you-you have decided to buy your first car. You will traverse what many consider a difficult and even taxing process. However, you have extensively researched each of the vehicles you want, and you do not feel afraid of haggling with dealers on the lot.
Yet you still feel nervous. After all, you have not done anything like this before.
Use the steps and tips listed below to prepare yourself for every eventuality before you go to the dealership or meet with a private owner. As long as you have prepared, the process should go smoothly and quickly while you get the rates and the vehicle you desire.
1. Prequalify for an Automobile Loan
Even if you have enough money to pay for a vehicle out of pocket, consider taking out an automobile loan to build your credit. You will need a solid credit score later if you decide to purchase a house. Just ensure you do not choose the first automobile loan you qualify for. Shop for the best interest rates and borrowing limits for your needs and budget.
This strategy doesn’t necessarily mean you should find the highest possible borrowing limit. You do not need the most expensive car on the market when you purchase your first vehicle. Keep your requirements reasonable, but not so flexible that you would take any loan.
2. Find Your Preferred Automobile Insurance Provider
Your automobile insurance will change once you have a vehicle, but you should still have insurance before you make the purchase. Again, do not choose the first insurance provider you come across. Look at coverage options and premiums to find a policy that fits your monetary requirements.
However, just because you can afford a policy does not make it the right one. Check what each policy covers before you make a decision. Some may have a reasonable cost but barely cover anything. And remember that you can call on insurance agents or brokers to assist you and help you look at multiple policies simultaneously.
3. Look at Online Ratings for Dealerships in Your Area
The closest dealership for the make and model you want might not treat you as fairly as one that lies a little farther away. Look at the ratings that each local dealership has earned, and read the comments that accompany those ratings. If you find a dealership with high ratings and comments that seem genuine, opt for that location rather than the closest one.
4. Take Someone Knowledgeable to the Dealership With You
If you have no prior knowledge of how automobiles work or what flaws and problems to look for, take an experienced friend with you. This friend cannot work at the dealership you visit. This friend must also have the ability to either thoroughly inspect a car or at least look and sound imposing. You should get more flexibility with the salespeople this way.
5. Remember That the Salesperson Works for You
The salesperson’s job involves helping you find a car you want to buy. He or she has to explain each car to you, show you its perks, and help you find the type of car you would actually consider purchasing. If he or she fails at this job, you have the right to work with someone else. Do not let the salesperson push you around. He or she works for you as long as your appointment lasts.
6. Bring Photocopies So You Do Not Get Trapped
Bring photocopies of your driver’s license, your proof of insurance, and your loan approval with you. But do not give anyone this information unless you plan to purchase a car, and never give people at the dealership your originals. If you decide to leave, you will have to wait while they hunt down the originals, and you might have to deal with further sales tactics in the meantime.
Additionally, do not talk about trade-ins or offer your car for an inspection before a trade-in. The dealership personnel will take your keys to get into your car, and if you decide to leave, you’ll have to wait for your car and your keys. Do not talk about trade-ins until you decide to buy.
7. Do Not Purchase Without a Test Drive
Only if you test drive will you know if you like to drive that vehicle. Also, remember that you can test drive multiple times if you oscillate between two cars and want to get a feel for the nuances between the two. A test drive may also expose potential perks or flaws that factor into your final decision.
8. Have the Salesperson Give You a Tour of the Vehicle
You should receive a tour of the vehicle’s features inside the cabin, in the trunk, and under the hood. Ask your salesperson how easily you can change the vehicle’s fluids and get to its battery and other features in case something goes wrong. You can also inspect the accessibility for yourself or have an experienced friend do it.
9. Have the Vehicle Inspected Before Purchase
Before you sign anything, you must schedule a pre-purchase inspection. This inspection checks for any flaws so you don’t have to pay for repairs and other considerations before you drive the vehicle off the lot.
A vehicle purchase represents a huge undertaking, but you do not have to do it alone. Call your bank, your insurance agent, and other professionals as outlined above to ensure the process goes effortlessly.
