5 Ways to Get the Most Out of Your New Car Purchase

Jan 18, 2018Reading Time: 3 min

Buying a car may prove to be one of the biggest purchases you make in your lifetime. And let's face it – no one wants to be stuck with a "lemon." Fortunately, there are many quick, easy ways to ensure you can purchase a top-notch car at an affordable price.

Now, let's take a look at five tips to help you get the most out of your new car purchase.

1. Perform Plenty of Research

The "sticker price" of a car may be negotiable. If you conduct comprehensive research, you can boost your bargaining power when you shop for your dream car.  

Free online resources from Autotrader, TrueCar and Kelley Blue Book make it simple to look up the value of a car based on its age, condition, and other factors. Take advantage of these online resources, and you can quickly and effortlessly perform extensive car research.

2. Get Financing Ahead of Time

Although a car dealer may offer to finance if you decide to purchase a vehicle, the interest rates available from this dealer may be higher than those available from local banks and credit unions. Luckily, you can get pre-approved for a loan prior to kicking off your car search.

Meet with banks and credit unions in your area – you'll be glad you did. This will enable you to review a wide range of car financing options. Then, you can select a car loan that matches or surpasses your expectations and start your car search with a budget in hand.

3. Shop Around for Cars

Going to a dealership is perhaps the most common choice for car buyers. Yet the internet now provides car buyers with immediate access to a massive selection of vehicles.

For those who want to find the best car at the lowest price, it generally is a good idea to check out the vehicles available on Craigslist, eBay Motors and other online automotive marketplaces like CarsDirect. That way, you can expand your car search without having to leave home.

4. Resist the Urge to Make an Impulse Buy

Impulse buying is unlikely to do you any favors, especially if you're on the lookout for a first-rate car that won't break your budget. If you stay calm, cool and collected as you shop for cars, you may be able to avoid the temptation to make a rash car buying decision.

Oftentimes, it helps to work with a family member or friend as you search for your ideal car. If you have a loved one at your side, you can get the support you need to make a calm, rational and intelligent car buying decision.

5. Account for Insurance Premiums

Consider car insurance premiums as you shop for a car. If your account for insurance costs now, you can make sure you have the necessary finances available to cover these expenses before it's too late.

Maximize the value of your new car purchase – use these tips, and you should have no trouble finding a terrific car that will serve you well for years to come.