With interest rates on loans at an all-time low, 2021’s possibly the best year to buy a car in recent history.
Most financial gurus predict that low-interest rates mean you’ll pay as little as 2.49% interest when you pay for a car over 84 months.
Do you agree that now’s a good time to invest in a new set of wheels? Check out this car buyer’s guide to help you make the right choice.
Work Within Your Budget
Even a new car is an affordable car if you stick to your budget. Don’t let persuasive salespeople talk you into signing up for payments that you can’t afford.
Your credit rating could indicate that you’re good for a larger auto-loan than you thought. Yet, that doesn’t mean you can afford a hefty repayment on top of all your other monthly bills.
Think Beyond the Purchase Price
Avoid snapping up a vehicle just because it’s a good deal. Make a list of must-have features before you leave for the dealership and stick to it.
Also, remember that all cars come with running and maintenance costs. Those slick low profile tires may look great, but how soon will you need to replace them, and at what cost?
Fuel consumption’s a big player when it comes to choosing a car too.
These are all extra costs that you’ll need to pay in addition to a car payment.
Actively Look For Deals
Every car dealer claims to have the best prices; it’s part of their job. Research your options thoroughly online before you subject yourself to any sales pitches.
Compare prices and look up reviews about each dealership to ensure they’re really as great as they claim to be.
One of the best times to buy a car is towards the end of the year. At this time, you’ll find excellent deals on the latest crop of cars.
Dealers are anxious to get rid of the current year’s stocks in anticipation of new releases. Likewise, month-end can yield some excellent savings as dealers scramble to meet their sales targets.
A Car Buyer’s Guide To Used Cars
What’s different about buying a used car? Only two major things.
It’s easy to get scammed, plus you’ll have to pay cash if you buy from a private individual.
Always work with an established and reputable dealer like Car Max, The Cool Car Guys, or AutoNation when you’re looking for a used car.
These dealerships vet all their vehicles and offer finance for buyers.
One Final Check
It’s best to get your mechanic to look over any vehicle you’re considering, even if your dealer’s given it a clean bill of health.
Even brand new cars sometimes roll off the production line with defects. A test drive isn’t always enough to ensure that the vehicle’s in good running order.
Make Wise Choices
It’s easy to fall for shiny paint and glitzy extras when you’re buying a car. Rather refer to this car buyer’s guide while you’re shopping around.
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