Top things you Should Know Before Buying a Car
Top Things you Should Know Before Buying a Car
A new car is fun, but buying a new car can be a challenge. Between financing and deciding on the best features, it can be an overwhelming process. But you can make it easier (and even more affordable) on yourself if you do these things before buying a car.
Know and Understand your Financing Options
Credit Score: Your credit score will have a significant impact on your financing options, including the rate you can get on a loan. Knowing this number ahead of time will give you a better idea of your bargaining power. If you have the ability to qualify for a lower interest rate, you are likely going to be able to negotiate a better deal for a car overall.
Monthly Payments: your monthly payment will be affected by several factors, including how much of a down payment you make and the length of your loan repayment. It may seem like a good deal to get a longer-term loan because this typically means lower monthly payments, but the final cost is likely to be much higher than a shorter loan.
Where to Get Financing: When financing a car, you either get a loan from a bank or directly from the dealership. It’s often beneficial to find out the rate a bank will give you first because you will then be able to compare it to the dealership’s rate.
Decide on a New or Pre-Owned Vehicle
Understanding the pros and cons of new and preowned vehicles before you go shopping, can help narrow down your choices and give you a better chance of getting a car that best suits your needs.
Overall, a used car will be less expensive and require smaller monthly payments. However, you may find yourself paying more for repairs and insurance and having the inconvenience of getting those repairs. Typically, if you require a car to drive long distances and frequently or if you have a job that depends on your personal transportation, a new car may be a better option.
A used car is also likely to require more care when purchasing. You will want to get an inspection and detailed history the car’s repairs and potential collisions to determine if it is likely to suffer greater problems down the road.
Where to Buy
When purchasing a car, the most important factor is often where you buy. While new cars are unlikely to experience many mechanical issues, choosing the right seller can get you a better rate. Used cars take even more care and should be purchased from a certified pre-owned dealer.
Lebanon Chrysler Dodge offers comprehensive financing on new and pre-owned vehicles along with industry standard inspections and records for our used cars. We work with you to take the frustration out of car buying to ensure you get the best deal on the car and features you want. Learn more about our current deals when you come in or call!