Buying a Car: A Step-by-Step Guide

Before you look into online car loans, you'll want to make sure you've found the right car first. Here's a step-by-step guide to finding the car of your dreams.

Step by Step

1. Narrow the field. The car-buying process starts before you even step out the door to start looking. Take an inventory of your credit, your finances, your needs, and your wants prior to car hunting. Figure out what you can afford and what financing options your credit will provide to you. Next ask yourself what you need. Do you have a big family or need a lot of cargo space? How important is fuel economy to you? Questions like these will help you pare down your prospects. Don't forget to consider what you want! Have you been dying for something sporty? Do you prefer certain brands? Take into account such preferences.
2. Maximize your test drive. Try to test drive all of the cars that you are considering on the same day. This will facilitate comparison. When you drive the cars, pay special attention to these factors:
   • Comfort of the ride
   • Acceleration
   • Braking, steering, and handling
   • Noise (how quiet is the ride?)
   • Visibility
3. Getting the best price. There are specific actions you can take to ensure you're getting the absolute best deal on your car. First, do your homework. Research the car's value and other dealers' prices. Second, don't take the sticker price at face value.that is a starting point for negotiations. Third, negotiate one point at a time. Don't let the dealer conceal inflated prices with low-ball numbers on leasing, financing, etc. Fourth, don't get conned into extras you don't need. Finally, come prepared with financing from online car loans. This will make you a more attractive buyer to a dealer.
4. Maximize the value of your trade-in. Of course, it's a lot more convenient to just trade your vehicle into the dealer when you buy your new car. However, it's also a lot more expensive. To maximize the value you derive from your trade in, clean up your car's appearance, make any necessary repairs, and consider selling the car to a used car dealer.
5. Finance wisely. The savvy car buyer will arrange financing prior to purchasing a vehicle, such as with online car loans. By the time you're ready to buy your car you should have gotten several quotes on financing and either selected one or come armed with numbers to the dealer. Pay attention to the total cost of the loan to get the best deal.
6. Pick up the car. Inspect the car thoroughly when you go to pick it up. Insist that the dealer fix anything that falls short of your expectations.