The 5 Questions to Ask Yourself Before You Purchase a New Car
Is This In My Budget?
Find out all of the financing options before buying a car. With auto loans, if you have a great credit rating you will have a better interest rate. The APR of 0% may make the car seem affordable but the loan may result in higher monthly loans since repayment is a shorter period. If you cannot afford the monthly payments, then the car is too expensive. Many people consider leasing a car since the monthly payments are often less and it is a more affordable option upfront. Whether you decide to lease a car or purchase, consider using reliable enclosed auto transport by Direct Connect Auto Transport to save on gas mileage while getting your new ride to your destination.
Did I Research the Dealership?
For every dealership that you visit, you should know how there ratings and reviews were from an online search. Customers will usually tell you whether the salespeople were trying to give you a deal or were trying to pressure you into spending more on a car.
What Is The Exact Down Payment That I Can Afford?
When you are looking to purchase a car, people usually put 20% down. If the car is $20,000 and you have 20% to put for a down payment which is $4,000 – you will have to borrow $16,000 to finance the rest of the car.
Did I Read the Fine Print?
When you purchase a car, be sure to read thoroughly through documents and not just sign your name at the bottom. When signing a car loan agreement, do not just agree until you know exactly what you are agreeing on. Many people find out there are hidden fees that come with the purchase of their car. Always ask questions and make sure the car salespeople go over everything in detail.
Did I Factor in Insurance Costs?
Insurance rates will differ greatly from driver to driver. Insurance will depend on your driving record, the make and model of the car, your credit score – and various other factors like where you live and your education level. When you find out the car you will like to purchase, call your insurance company to find out how much the car insurance will be each month. Once you decide on a car to purchase, consider using the reliable auto transportation Direct Connect Auto Transport to get your new car to its location safely.