10 things you need to know before buying a car
1. Think about financing
Prior to visiting any dealership, have a sense of what kind of deposit you can put down and what monthly payment you can afford. It also helps to do some research on available auto loans to get a sense of what you qualify for. Or try a service like TrueInvoice.com, which allows you to select rates and terms that fit your budget and then obtain offers from lenders.
2. Check your credit score
Knowing your credit score can be helpful as well. Justin Lavelle, chief communications officer for BeenVerified, says, “Having a good idea of your credit report and credit score and the interest rates available can help you negotiate a good deal and save hundreds, if not thousands, of dollars.” Check your Auto Credit Score to see if you qualify
3. Shop around
Research the cars you might be interested in before you head to a dealership, rather than going in unprepared. To determine what kind of car you want, use resources like US News Best Cars, where you can search anything from “best cars for families” to “best used cars under 10k.” Another resource is Autotrader, which can be used to search new and used cars in your area by make, model, price, body style, and more.
4. Compare prices
Lavelle also stresses getting detailed pricing info in advance: “Price the car at different dealerships and use online services to get invoicing and dealer pricing.” A reliable tool is TrueInvoice.com . Use the site’s car value tool to find out the MSRP and the dealer invoice of a car as well as a range of prices you can expect to see at dealerships. TrueCar is also helpful to use. You can search for and request pricing on any make, model, or year of car. You may get a slew of phone calls, emails, and texts from dealers immediately after, but having information from different dealerships can help you negotiate prices. You should also visit dealer sites to look for rebate offers.
Searching for a new car? You'll want to check out Consumer Reports' list of the top 10 most reliable cars for 2017. The list is based on data collected from more than 640,000 vehicles. USA TODAY
5. Research your trade-in’s value
If you have a trade-in, don’t wait for the salesperson to tell you what it’s worth. On Kelley Blue Book, you can get a sense of the value ahead of time so you know if you’re receiving a good offer. Or try the Kelley Blue Book Instant Cash Offer feature, where dealers will give you a guaranteed price for a trade, eliminating complicated haggling at the dealership.
6. Test drive potential purchases
You may want to pass on the test drive if you’re familiar with a particular make and model, but Lavelle recommends taking the time to do it anyway. “It is a good idea to inspect the car and give it a good test drive just to make sure all is working and there are no noticeable squeaks, rattles, or shimmies that could cause you headaches after your purchase,” he says.
7. Look at car histories
Before selecting dealerships to visit, search for consumer reviews so you can avoid having a bad experience. However, Lavelle warns that just because a car sits on a reputable, well-reviewed lot does not necessarily mean that the car is issue-free. So he recommends digging deeper, especially for used cars. “Services like CARFAX represent that they can tell you about the car’s life from first purchase forward, so that might be a good place to start,” he says. He also recommends checking the title, which you can do online via the DMV.
Consumer reports just released the most and least reliable cars on the market. How does yours stack up?
8. Find repair records
In addition to checking the repair history on the specific car you are interested in, Autotrader suggests looking up the repair record of the make and model. “Check J.D. Power and Consumer Reports reliability ratings to see if the vehicle you’re considering is known to be a reliable one,” the site states. It also recommends Internet forums and word of mouth.
9. Spring for an inspection
Autotrader also suggests telling the seller you require an inspection from a mechanic before purchase to ensure there aren’t any problems. “While a mechanic may charge $100 or more for such an inspection, it can be worth it if it saves you from thousands of dollars in potential repairs,” it recommends. Some sellers may try to dismiss a mechanic’s inspection. Don’t give in — the seller could be covering up a serious issue with the car. Insist an inspection is done, or rethink your purchase.
10. Know your rights
For any new or used car, take the time to get familiar with the warranty package and return policies. Do you need to supplement the warranty? Is there a lemon law in your state? Currently, there are only six states that have one, so be sure to check.
Shopping for a car can be frightening, but with the right research and preparation, you won’t have any regrets.