New car buying advice can prove invaluable - if you get your information before you buy your new car, truck or SUV. Don't lose out on a great set of wheels because you failed to do your research. Here are some points to consider before you set foot on the dealer's lot.
Know Your Budget
Even before you think about the kind of vehicle you want to buy, sit down and calculate what you're able to spend. New car buying advice includes the recommendation that you factor in the cost of the vehicle's payments as well as insurance, fuel costs and maintenance. New autos are so attractive you may want to look at all the bells and whistles.
- Tip: Allow yourself $1,000 to $2,000 leeway, but don't be tempted to buy more than your budget will allow.
Know Your Needs
If you have a multiple-person household, or need to haul people or stuff on a semi-regular basis, you're probably not going to be satisfied with a small, albeit fuel-efficient coupe or even sedan. Your needs may be best met with an affordable and fuel-efficient crossover (CUV) or a compact hybrid SUV. Do you need to tow a trailer or boat? Are you a contractor or need to haul snowmobiles, mountain bikes or other equipment that requires a pickup? The new car buying advice for this category is to assess your regular needs and then consider the type of vehicle that's right for you.
- Tip: Write down the various types of trips you've made in the past month. Calculate how many times you needed more space or hauling capability.
Do Your Research
New car buying advice articles all recommend that you do your research. There are many ways to do this, including the Internet, brochures that are available for download on manufacturer's websites, dealership catalogs, enthusiast and car and truck magazines, newspaper auto reviews, word-of-mouth and personal experience.
- Tip: Besides vehicle specifications, be sure to research fuel economy, safety, quality and reliability ratings, insurance and warranty.
New Car Buying Advice: Know Your Credit
As soon as you start looking at cars on the lot, an eager car salesman will be on your heels. You should already have a clear idea of where your credit stands, since you can't buy or lease a new vehicle without strong credit. If you have credit items that need attention, the time to do that is 6 months before you plan to visit the dealership.
- Tip: Obtain copies of your credit report from all 3 nationwide credit reporting agencies: Experian, Equifax and TransUnion.
Car Leasing Advice
Before you get to the financing department, you need to know whether you will be purchasing or leasing your new car. Understand the terms and conditions, the advantages and disadvantages of each, and which is better for you.
- Tip: Use financing and leasing calculators available on many websites to help you determine your best option.
Car Warranty Advice
New cars come with very substantial warranties. Part of your research should be to fully understand what is already included in the manufacturer's warranty for your intended vehicle. This will help you to avoid falling for the extended warranties the car salesman may try to convince you to buy.
- Tip: Unless you plan to keep your vehicle for 10 years or more, you probably don't need the extra expense of an extended warranty .
