What Do I Need Before Buying a Car?

What Do I need to Know Before Buying A CarThese tips will help you obtain your dream car

So the glimmering, new car parked at the dealership is calling out to you. What’s next? Be careful of a rushed purchase decision and make sure you know where you stand financially before diving into the car buying market.

Understanding the following car-buying essentials will help make the process smoother and more fun for you.

1. Financing—Automotive dealers have financing departments ready to serve prospective buyers, but diligent consumers can overcome potential roadblocks by submitting loan applications to local financial institutions in advance. For more on car loans read here.

Car and Driver magazine points out that financial institutions often provide better interest rates to shoppers than they might otherwise receive at car dealers. In addition, buyers can establish budgets that show them how much they can afford to pay each month on a car payment.

2. Credit history—Poor credit can damage a shopper’s chance to make major purchases.  The good news is that there is plenty that to get and keep a good credit score.

Submit credit report requests before buying a car. You are eligible to receive one free report from each of the three national credit reporting companies every 12 months under federal law. This gives you an opportunity to review your credit report and lets you know where you stand financially.

3. Research—Evaluate the market to find the best prices on automobiles.

Browse the selection available at dealerships online. Miscellaneous publications also provide details about a wide range of cars and trucks and help shoppers assess the pros and cons of different models.

In addition, consumers can contact automotive professionals to learn more about specific vehicles. Car dealers run promotions throughout the year, and cost-conscious buyers should review the offers available from different merchants.

4. Title and registration requirements—Contact the local Registry (or Department) of Motor Vehicles to learn about title and registration regulations. RMV/DMV guidelines vary throughout the country, and learning about title and registration expenses gives buyers extra time to map out their budgets.



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