A lot of car salesmen get the notion that they are sleazy and shady, but the car buying process is something that you unfortunately have to do if you live in America or a society that prioritizes individual transportation over mass public transit. Allow someone to give you the five steps to buying a car and getting the most bang for your buck.
Determine Your Budget
Before you even start looking at cars, you need to understand what kind of budget you are working with. Some things that you need to consider are your monthly income, expenses, any existing debt, and your credit score, as they all play a big role in determining how much you can comfortably afford for a car.
Research Cars and Dealerships
The next thing you want to do is research the types of cars you are interested in, whether it’s SUVs, crossovers, or any other kind of car. You need to determine the specific car you want and the brand you may be interested in. Certain makes and models have a history of poor performance, maintenance issues, low gas mileage, or other parameters you may consider. The most important thing is to ensure that you do thorough research before purchasing the vehicle.
Test Drive and Inspect Cars
Once you have decided on the type of car you want and where you’re going to buy it from, you need to try to locate the car at a dealership and ask for a test drive. A test drive can make or break the sale of a vehicle. Some people get in the car and drive it, only to realize that it’s not as smooth as they had hoped. On the other hand, some people get in the car and fall in love with it from the first time they drive it.
Make sure to inspect the vehicle, especially if you are purchasing a pre-owned car. It should come with some kind of warranty, along with a comprehensive history report that details any previous issues or accidents. This will help you understand what you are signing up for when you purchase the vehicle. Consider hiring a third-party mechanic to thoroughly check the vehicle before you make the purchase.
Negotiate the Price
Now, this is the part that many people worry about: negotiating the price with the car salesman. The most important thing I’ve found when purchasing a vehicle is not being afraid to walk away if you believe the price you’re being offered is unfair. It’s okay to walk away, and most of the time, they will be willing to lower the price if they know you are willing to walk away from the deal.
The other thing I would like to highlight is making sure that you understand the difference between leasing and buying a car. This understanding can help you make the most financially sound decision for yourself.
Make the Actual Purchase
The last part is the easiest part. All you have to do is complete all the paperwork and make the purchase, whether you’re buying the car outright or opting for monthly payments. This paperwork finalizes all the details and marks the end of the car buying process. Congratulations!
