If it’s your first time buying a car, it’s easy to get so caught up in all the excitement that you end up making a bad choice.
Coming unprepared to your appointment doesn’t just mean that you might walk away with a car that’s not the right fit for you. It also means you could be taken advantage of by car sellers that don’t have your best interests at heart.
We don’t want that to happen to you.
Read this post full of tips for first time car buyers to make sure it doesn’t!
1. Consider Your Financing Options
What’s the most essential choice you’ll make when it’s your first time buying a car?
It’s not the make and model that matters the most – instead, it’s all about the way you finance this big purchase.
Often, the car dealership will give you a lending option that allows you to take out a car loan from a lender work with. However, that’s not always your best option. Instead, you should consider third-party loan providers. Often, they’re able to offer you much lower interest rates and few fees.
Learn more about your options before you sign anything.
2. The Dealer Expects You to Negotiate
Another important thing that every first time car buyer needs to know is the fine art of negotiation.
In other words: don’t make the mistake of paying the sticker price!
If negotiating isn’t your strongest suit or if it makes you nervous, check out these tips for the most effective tactics to use. Make sure you also look up the value of the car makes and models you’re considering online before you head to the dealership.
Aim to pay a minimum of 10% less than that price – not the one the dealer initially offers you.
3. Read Everything in the Contract
Finally, you need to ensure that you’ve taken the time to read every single page of the contract before you sign it.
If you don’t understand what something means, don’t be embarrassed to ask. It’s not the first time they’ve heard the question, and you could end up in serious financial and even legal trouble if you don’t follow the contract’s terms.
Often, untrustworthy sellers will try to sneak in extra features that weren’t discussed or even that you said you weren’t interested in.
Don’t let this happen to you.
Bring a friend or family member with you help you understand the contract.
If It’s Your First Time Buying a Car, Follow These Tips
While your first time buying a car can be an experience that’s as intimidating as it is exciting, if you follow the advice here, you’ll end up with a great purchase.
Remember to be thorough, negotiate, and consider all your lending options ahead of time.
Need more advice about what kind of car you should buy? Curious about the kinds of auto accessories and features you may want to upgrade to?
No matter what you plan on driving or what your budget is, rely on our blog to help you make smart decisions regarding both buying and caring for your new car.