Buying a Car

Buying a car is a complex and involved process that should not be taken lightly.  It’s not like buying a loaf of bread or a stereo.  It’s easy to buy a car, but figuring out which car you want or need isn’t necessarily so easy.  Finding the right car loan and the best car loan rate is often easier than finding the right car.

So how do you know what you want?  There’s no book that will tell you what you like, nor is there any one person that can let you know for sure that one car is better than another.  With every car maker making better quality cars these days, is there really any one decisive way to know which one is the best?  There are a few things to consider when you start shopping around.

Domestic or Import?  What do you prefer?  Some say that domestic cars are the only way to support the economy, but major import companies actually make cars domestically now, so examine yourself for what you really prefer.

How Big?  Determine what size vehicle you’re looking for.  If you have a large family, perhaps a minivan, but if you’re using the car to carry nothing more than a pair of sunglasses and a map, maybe a sporty convertible is your best shot.

Drivetrain Considerations.  Front wheel drive cars offer better traction and handling on wet roads, but all wheel drive gives you better traction in more situations.  Rear wheel drive is a popular choice among sports and muscle car purists.

Performance and Power.  Does anyone really need a car that does over 100 mph or a truck that can pull a house down the road?  Examine exactly what you’re going to be using the vehicle for to decide how much power you need.

Cargo Capacity.  How much do you really need to cart around with you?  If you like to take long trips, maybe a car with lots of trunk space is right.

Mileage Concerns.  Everyone is concerned about mileage, but how much is enough?

Safety First.  What kind of safety features come standard?  What do you have to have to be happy? 

Warranty.  All new cars come with a warranty, but to paraphrase, some are more equal than others.  Look at how long the coverage lasts and evaluate your usage accordingly.

Resale Value.  Unless you like to keep your cars until they drive into the ground, you’ll need to know how well particular models hold onto their value for sale or trade purposes. 

Cost.  What more can be said?  How much do you want to pay for what you want?

The cost of a vehicle is probably the most limiting factor in your automotive search.  If you find the perfect car with the right balance of all these things, but it costs too much, you can’t get it.  Period.  Don’t forget to include taxes, fees, finance charges, and any other ancillary costs associated with buying a car when you decide on your bottom line.  Research the car loans available and car loan rates to help to determine the monthly cost and total cost of the vehicle. 

Once you decide on makes and models that offer the best balance of features, reliability, and price, it is time to go see which one is right for you.  Visit the dealership and take one for a test drive.  Make it clear to the salesperson that you won’t be buying anything today, but you’ve narrowed your options down to several models and/or makes.  Once they know they’re competing for your business with unnamed and unseen adversaries, they’ll kick into high gear on the service. 

You are the boss- if the dealer won’t let you take a test drive without checking your credit, leave and try again at another dealership.  One more thing- try to get the test drive without a salesperson in the car.  They have a tendency to talk up the car and make it sound better than it is.  You need to let the car talk to you- only then can you find out if it is right for you. 

The only thing left to do after settling on a choice is to haggle on a price.  Negotiate the price based on dealer invoice, not the window sticker.  Research all of your financing options, know your rights and what you can ask for.  The right car loan with low fixed rate and low monthly payments make the purchase that much easier.  Shop and compare everything, even the car loan interest rate.  Do all of this, do it well, and you will be happy with what you drive home at the end of the day.

Tags: car buying, car loan rates, car loans

This entry was posted on Saturday, February 21st, 2009 at 5:45 pm and is filed under Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.