Smart Car Shopping

Smart Car Shopping

Buying a vehicle, whether new or used, is a major investment and can be daunting. Here are a few tips to give you confidence on your next car shopping experience.

1. Always do a test drive

While new car buyers almost always opt to do a test drive before purchasing a new vehicle, as many as 20% percent of used car buyers don’t. It’s essential to take the car on a test drive to ensure its running properly and protects customers from buyer’s remorse.

2. Get preapproved for a loan

Settle on a budget before browsing for a new or used car. If considering a car loan, shop around for the best interest rates available from various banks and get pre-approved before heading to a dealership. The process allows buyers to understand what they can afford, and will bring up any issues with their credit score and history.

3. Consider a trade-in vehicle

Trading in a current vehicle can save money and reduce the stress of figuring out what to do with an old car. While the trade-in value will vary by dealership, some websites allow individuals to get an idea of a vehicle’s worth.

4. Have a mechanic inspect the car

In addition to performing a test drive, have a used car inspected by a certified mechanic, who can identify problems that aren’t obvious to the everyday consumer.

5. Which is more cost-effective to insure?

There are many factors that go into car insurance premiums, one of which is whether a car is used or brand new. A consumer’s final rate will depend on their driving history, the vehicle’s make and model, coverage level, and deductibles. State-of-the-art safety features, more easily replaceable parts, and other factors often contribute to lowering the cost of insuring some new cars.

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