My Money - What to consider when buying a car

How do you know you’re getting a good deal on a vehicle?

Posted: Jun. 20, 2018 2:03 PM

Link: https://www.firstalliancecu.com/blog/top-things-to-consider-when-buying-a-car

Q: Buying a car is a fairly significant purchase, what are some tips you give your members when it comes to car shopping?
A: It really comes down to four things you need to pay attention to during your vehicle search, your wants vs needs, price, fuel efficiency, and condition of the vehicle.
Q: Why is fuel efficiency such an important consideration?
A: Fuel efficiency should be very important part of your decision making when buying a vehicle that a lot of people don’t think about. Because you need to know how much you will be spending on gas each year. If you don’t have a lot of room in your budget to spend on gas, you should be considering more fuel efficient vehicles. What good is a car if you can’t afford to drive it?
Q: Wow, that’s a great point, since we are talking affordability of the vehicle, how do you know you’re getting a good deal on a vehicle?
A: When looking into a buying any vehicle, new or used, do your homework first, compare the pricing of the vehicle you are interested in with multiple dealerships and even private party sales. Once you are comfortable with the pricing on the vehicle, make sure you have considered the cost to finance the vehicle. It's always a good idea to speak to your financial institution about getting pre-approved before visiting a dealership. This allows you to more easily stay on budget when shopping for your vehicle.

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