If you’re new to buying cars or haven’t made an auto purchase in years, it may be hard to know where to begin. Finding the car of your dreams takes a little research and planning. Let’s find out how you can own the car you’ve always wanted.
Assess Your Needs
Finding the “right car” depends on what you expect from a car and who you are. If you need a vehicle for your daily duties, the functionality should always trump flash. Here are some practical things to keep in mind:
-What type of driving do you do?
-How many passengers do you need to carry?
-How important is fuel economy to you?
-Do you need an all-wheel-drive?
-What are your must-have features?
-What safety features are most important to you?
-What cargo capacity do you need?
-Do you have/plan to have kids?
-Will you be doing any towing?
-How big is your garage or parking space?
Set Your Budget
Unless you’re planning on paying cash for your car, you’ll need to think about financing options. As a general rule, your monthly car payment should not exceed 15% of your take-home income. A used car may be less expensive, but the same rule should apply. You should also factor in an additional 7% of your monthly income to cover fuel and insurance costs. By setting your budget beforehand, you’ll be able to negotiate your next car or truck efficiently.
Set up A Test Drive
If you’ve found a car that seems to be a good fit for you, call, text, or email the car dealership to schedule a time for a test drive. It’s best to recommend test-driving at least three different cars so that you don’t limit your options.
Pick Your Car
After test-driving cars, the choice should be clear. If it isn’t, it’s best to sleep on it. In the morning, you may have your answer. Once you’re sure, you can buy the car of your dreams.
