Do you have a milestone coming up in your family soon? A graduate, wedding or big move? Wow! All 3 of those will be happening to my family in the next few months. I can’t believe how fast my children have grown up. Now, all but one of them have left the nest.
Our college graduate is moving and entering the work force at the same time. Along with acquiring a new job, new apartment and now it’s time for a new car. Here are a few tips we came up with while searching the car market. Getting a loan requires a bit of leg work, but it’s not hard to make sure you get the best deal.
- Give yourself plenty of time. Rushing into a decision or a deal can be a big mistake. Take your time and make sure you have the car and the loan that is right for your situation.
- Test drive a lot of cars! Most dealerships will allow you a 24 – 48 hour trial before you sign on the dotted line to purchase a car. Take advantage of any test drive program offered to you. The more chances you have to manipulate the car on corners, hills, stops, starts, rural travel and highway travel will give you more insights into the car and if it will meet your needs.
- Negotiate on everything. Negotiate on the price of the car, the warranty, the features, the maintenance schedule and anything else that is important to you. Car dealers want your business and should be working hard to get it.
- Shop around for loan options. Many financial instutions, car dealers and loan companies have a myriad of financing options. Make sure you try this car loan calculator to make sure you can afford the payments, before you buy.
- Don’t say yes on your first visit. Tell the car dealer and the loan officer you need a day or 2 to think about your choices. 9 chances out of 10 they will call you with a better deal, soon after you walk out the door!
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