5 things you need to know before buying a car
**As written for The Safe Driver.
Whether you’re buying new or used, buying a vehicle can be intimidating. Salespeople often try to pressure prospective buyers into leaving the lot with a car, so it’s important to prepare before visiting a dealership. Here’s what you need to know to make a well-informed, stress-free decision.
Think About Financing
Before visiting any dealership, research your financing options. Know what kind of deposit you can put down and how much you can afford to pay monthly. If you’re considering an auto loan, shop around to find the lowest rate.
Knowing your credit score is also helpful when buying a car, as your credit score can influence the kind of rates you can get on your auto loan. While a higher credit score can score you a better rate, a lower credit score typically means you’ll be stuck with a higher interest rate. When it’s time to take out a loan, having a good idea of your credit score and available interest rates can help you negotiate and save.
Shop Around
If you’re not sure what kind of car you’re interested in, shop around for cars online. It’s easy to be upsold at a dealership, especially if you’re buying a car for the first time. To gain a general idea of what cars you’re interested in before going to a dealership, try using US News Best Cars to search for “best family cars” or “best cars under $12k.”
Compare Prices
Make sure to consider price points while researching different cars. Obtaining detailed pricing information in advance can help you avoid being upsold, and you’ll be able to go to the dealership with a general idea of what price ranges to expect.
Try pricing potential cars at different dealerships and using online services to obtain deal pricing. Although a Honda dealership in North Olmsted, OH, will price cars differently than a Toyota dealership in Columbus, OH, researching prices online can save you time and money. Kelley Blue Book features a car value tool, which allows prospective buyers to find out the MSRP and dealer invoice of a car, along with prices you can expect at dealerships.
Research Car Histories
When deciding what dealerships to visit, search for reviews from past buyers so you can avoid having a negative experience. It’s also important to keep in mind that finding a car at a reputable, highly rated dealership does not mean the car will be issue-free.
Consequently, auto experts recommend digging deeper, especially if you’re interested in buying used. Online services like CARFAX can reveal information about a car starting from the first purchase. Additionally, check the car’s title online using the DMV.
If you decide to skip the dealership and buy straight from the owner of a used car, be sure to perform a background check. GoLookUp, the top background check site, makes it easy to search for background checks, arrest records, and mugshots. To perform a comprehensive background check on a seller, all you need to do is type in their name. Performing a background check on sellers can reveal potential red flags and give you an idea of what to expect.
Request an Inspection
Autotrader suggests asking the seller for an inspection from a mechanic before purchasing a vehicle. Although a mechanic may charge $100 or more for an inspection, the inspection can highlight any issues or necessary repairs, potentially saving you thousands of dollars. In some cases, sellers will try to dismiss a mechanic’s inspection. The seller might be trying to cover up a serious issue or costly repair, so don’t give in. Instead, rethink your purchase or refuse to purchase the car without an inspection.
Buying a new or used car can be stressful. But with thorough research and preparation, you can save time, money, and peace of mind when buying your next car.