6 Steps to buying a car

$479

step 1: DetermineDetermine your budget. Knowing what you can afford before you start shopping ensures you stay in budget. There are nospecific rules as to how much you should allocate. Just makesure that your car payment fits comfortably in your monthlybudget. Our auto loan calculator can help!

The averagemonthly payment for a new vehicle is

Consider how often and for what purpose you'll use your vehicle. Make a list of the features you'll need and start researching the vehicle makes and models that fall into your criteria. If you have a vehicle in mind, look into similarmakes and models from competing manufactureres.

Step 2: revisions

Most popular car features buyers want: 2

say safety isthe most important

79%want crash notificationtechnology

64%

want internetenablednavigation

58%stream audioregularly intheir car

72%

Step 3: Consider FinancingAfter you find a car that fits your budget, determine the best way to pay for it. Some people will opt to pay cash for the full price of the vehicle. However, most people will choose to finance their car and may obtain a loan from a credit union or bank. They will make monthly payments over a period of time for the amount financed plus interest until the loan is paid othe loan is paid off.

20%

80%About 20% of people pay for their cars with cash, which means 80% require a financing option.3

Step 4: Test DriveWhen your choice is narrowed to a few vehicles, visit thedealerships and go for a test drive.

of buyers test-drive one or no vehicles before purchasing.449%

test-drive 3vehiclesor more 4

26%of car buyers

visit 2 dealershipsor less 4

68%

visit 4or more

dealerships 4

15% Overall,car buyers only visit

dealerships.42.2

According to Edmunds.com, you could save

by negotiating.5$1,000 – $2,000

Step 5: NegotiateNegotiate a price that includes rebates or discounts, andthe added costs of sales tax, title fees, vehicle registration costs, etc.

Purchasing a car can be a whirlwind, but just remember to doyour research, stay grounded during the process, and never be

afraid to talk away if you’re not 100 percent satisfied.

Step 6: InspectInspect the vehicle before driving away, sign the paperwork,and enjoy your new set of wheels!

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1 http://www.bankrate.com/finance/auto/a-tightwad-s-10-tips-to-trim-car-costs-1.aspx2 http://www.autoconnectedcar.com/2014/10/new-car-buyers-want-connected-cars-for-internet-safety-productivity-and-entertainment3 http://www.cars.com/go/advice/Story.jsp?section=fin&story=should-i-pay-cash&subject=loan-quick-start4 http://www.dmeautomotive.com/announcements/1-in-6-car-buyers-skips-test-drive-nearly-half-visit-just-one -or-no-dealership-prior-to-purchase#.VXhmKtL4_cs5 http://www.edmunds.com/car-buying/negotiating-101.html