How to Best Shop for & Buy a Car

Buying a Car > How to Best Shop for & Buy a Car

May 21, 2021

Thinking about buying a new car? These important tips can help! Heeding the advice below will help you save money, get the best deal, and hopefully reduce the amount of stress involved in purchasing a new or used vehicle.

The first step in the process of purchasing a vehicle is to get pre-approved for a loan. You should first start with rate comparisons between lenders to find your lowest interest rate. Once you decide on your lender, you will give the lender some personal information to determine your loan amount.  Determining the amount for which you are pre-approved is crucial.  As soon as complete, you will have a set budget and can research the vehicles that fit your needs, budget and interest level.

Now that you have the pre-approval and an idea of what type of car you would like to purchase, you can head to the dealership for a test drive. Be sure to research local dealerships for sales and special events to save some money on your purchase.  You also want to decide whether you will be buying a new or used car. While purchasing a new car is appealing, buying used can save you a significant amount of cash as long as you do your due diligence on the history of the vehicle.

After you find the vehicle you want, you will finalize the loan paperwork and continue the buying process. This is where you will negotiate price and discuss any trade-ins you might have. Buying a car can sometimes be an emotional and stressful situation, but don’t forget it is just a business transaction and once the paperwork is signed you will be the proud owner of a new, or new to you, car.