| Car buyers cannot let their emotions take over their | | | | loan can be more expensive than using an |
| car buying decisions, especially in the current economy. | | | | independent lending company. |
| Buying the right car for the right price will no doubt be | | | | 5) Bring a friend with you. Bringing a companion will help |
| financially savvy to you in the long run. | | | | you stay focus, objective, and therefore less likely to |
| To make sure you make the best decision possible, | | | | make a hasty decision. |
| use these 9 car-buying tips to your advantage: | | | | 6) Take the vehicle out for a test drive. This is |
| 1) Decide your wants versus your needs. You may | | | | especially important when purchasing a used vehicle. |
| need a cargo van to shuffle the kids to soccer | | | | You need to see how she handles and the way she |
| practice, but you may want a sports vehicle to cruise | | | | purrs, or knocks. Make sure you can park it easily and |
| with your spouse on the weekend. Which one is more | | | | that there are not any blind spots when changing lanes. |
| important at this time? If you do not know what you | | | | 7) Ask questions. Car buying can take awhile, so do |
| are looking for, you may drive away in car that does | | | | not be afraid to ask questions to fully understand what |
| not match your needs. | | | | is going on around you. |
| 2) Set an accurate budget that you are willing to | | | | 8) Get the low down. A zero or too low of a down |
| spend on a new car. Do not forget that the negotiated | | | | payment will likely cause a problem if you want to |
| price does not include state taxes and therefore can | | | | trade the car in for another before the loan term is up, |
| be more than you bargained for. You also have to | | | | because you may get stuck "upside down"-- the car is |
| account for all car costs that could incur over time | | | | depreciating at a faster rate then you are able to pay |
| such as gas, registration fees, maintenance, insurance, | | | | off the auto loan. If your auto loan amount is close to |
| and repairs. If the price is higher than you thought, walk | | | | the invoice price on a new car or trade-in value on a |
| away or decide on a less expensive model. | | | | used car, you will be in good shape if you decide you |
| 3) Do your homework. Use advice, reviews, and | | | | want to upgrade your wheels before the auto loan is |
| ratings from car buying sites. You can also see how | | | | paid off. For those with less-than-perfect credit, more |
| much a particular model you want is selling for in the | | | | of a down payment will help to offset the challenges |
| market. If you are shopping for a used car, use a car | | | | of getting into a good auto loan. |
| report website to get a complete automobile history. | | | | 9) Be Patient. Finding the right car and pricing can take |
| 4) Shop around for the best auto loan deals. Many | | | | time. Take a few days to think about it and to make |
| people do not plan ahead on getting an auto loan from | | | | sure you feel comfortable with your purchasing |
| an independent lender, and therefore find themselves | | | | decision. If you are purchasing a used vehicle, take as |
| using the dealership. The dealer can make a 2% to 3% | | | | much time as needed to thoroughly inspect the car, |
| profit if you indirectly lend from them, and therefore the | | | | the vehicle registration, and the price. |