5 Steps to Take Before Buying a New Car

young african woman showing her new car key

Buying a car is a huge decision, but it doesn’t have to be as difficult as you think. As long as you do your research it can be a pain free experience. We have compiled the steps to make your car buying experience as easy as possible.

  1. Research Vehicles

Not sure exactly what you want yet? First step is to research what type of vehicle will suit your lifestyle best. Once you decide what type of vehicle you want, figure out your price point and what features you want in your vehicle.

  1. Get Pre-Approved for a Loan

Once you decide on the vehicle you want, figure out your budget. Getting pre-approved for an auto loan will give you an idea on how much you can spend and what your APR will be on the loan. To be pre-approved you will need to provide your loan officer with employer and salary information as well as balances of other debts you may have. This can help narrow down your vehicle selection and allow you to make an offer on a vehicle on the spot without having to go to the bank to be approved for an auto loan.

  1. Figure Out Your Trade-In Value

If you are going to trade-in your current vehicle, determine the value of your car. This will help in deciding if you want to trade-in your vehicle or sell it on your own separately.

  1. Negotiate a Sale Price

After you have test driven the car and have decided you want to buy it, it’s time to negotiate a price. You should price out the car online and figure out the blue book value to make sure you are paying a fair price.

  1. Close the Deal

If you like the car and the price is right, it’s time to close the deal. Before you sign you should ask for a breakdown of all of the fees and taxes you will be paying to ensure you are not blindsided by hidden fees. After you sign all of the paper work it is time to take delivery of your new car!

Once you decide that you are in the market for a new vehicle, call one of our loan officers to set up an appointment to get pre-approved.

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