The Do's and Don'ts of Car Buying

Buying a new car is an exciting process for anyone. The thrill of experiencing the new car smell and test-driving different models is truly rewarding. However, it is not without its stressors. Making sure you choose the right vehicle for you can be nerve-wracking, and some may not know where to begin.

That's why we've assembled this list of good starting points for you. Follow these steps to help keep the new car search exciting and rewarding, just the way it should be!

1. Do Know Your Needs

In order to find the perfect vehicle for you, you'll want to start by selecting the type of vehicle that best suits your lifestyle; convertible, minivan, sedan, coupe, compact car, etc.

2. Do Research

Once you've decided on the type of vehicle you want, make a list of what's important to you. Research various models and makes that give you all the amenities and features that you want.

3. Do Know How Much You Can Afford

Creating a budget can be the hardest part. You may have found the vehicle that fits you perfectly, but finding one in your price range can be difficult. When purchasing a new vehicle, it's best to put about 20 percent down, limit the term to no more than 60 months and keep your monthly payment below 10 percent of your income. Plus, you'll want to make sure you consider the cost of maintenance. Some cars cost more than others.

4. Don't Trade In A Car That's Worth Less Than You Owe On It

Negative equity can be a burden. The balance of your old loan may be consolidated into the new car's loan amount, meaning you could be paying the debt of two cars in one, big loan. Get ahead by researching what your trade may be worth.

5. Don't Rush Your Test-Drive

Take your time with the test-drive to make sure you actually enjoy the car instead of just enjoying the feeling of a new car. Ask questions, play with the various features and look around the vehicle. Make sure the car has enough space for everything you need.