5 Car-Buying To Do’s

When it comes to major purchases, buying a car is up there with buying a home and deciding where to go for college. Whether you’re buying a lower priced used vehicle or a shiny new one, you’ll be spending thousands of dollars on an object that you hope will safely get you from point A to B and back again for years to come. Although a Nationwide survey found that people believed car buying to be as stressful as jury duty, doing their taxes or public speaking, there are things you can do to streamline the process and to help you keep more of your hard-earned money in your pocket. Here are 5 important To-Do’s.

#1 Choose the Best Time to Buy
Some times of year are better for saving money on a car than others. Some days of the week are better for purchasing a car than others. As the Christian Science Monitor reports, August and December are two of the best months for a car purchase.

#2 Set a Budget
Come up with a price you can comfortably afford for your car before you start talking to dealers. Having a firm budget will help you resist any temptation to upgrade to the newer model or to add on features that you don’t really need. Something else that you want within your budget is insurance. You don’t want to be paying too much, but you also don’t want to pay too little and not getting covered for the basics. If you are unsure on where to start, you could look into a site like one sure insurance, where you can look into different insurance policies and also read customer reviews on the policies they purchased.

#3 Browse and Negotiate Online
In 2015, Time reported on a survey by Accenture. Three-quarters of the 10,000 people surveyed said that they would rather handle all aspects of purchasing a vehicle online. Online car buying does reduce the pressure of face-to-face negotiating. It also allows you to get several quotes for a variety of dealers, without having to travel to each one.

#4 Get Financing First
Just as you would shop around for a mortgage or for the best price on a car, you want to shop around for a car loan. Getting pre-approved for an auto loan before you head to the dealership will help you understand how much car you can afford to buy.

Before you head to the dealership, stop by Coosa Valley Credit Union and get pre-approved for a car loan today. You can also contact us when you’re at the dealership and we’ll walk you through the pre-approval process on the spot.

#5 Don’t Forget About the Trade-In
If you’re trading one car for another, it pays to do some research before you head to the dealer. Look up the value of your current car in the Kelley Blue Book or do a quick internet search to see what your old car is selling for online or through auction sites.

For more details, click here for the full blog post, which originally appeared at www.mycvcu.org.