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Buying a new vehicle can be a major investment, and the steps that you take before heading to the dealership could help you avoid an expensive mistake. Even seemingly minor issues such as an old derogatory mark on your credit score might end up costing you thousands if you aren’t careful. Here are a handful of tips that will make this process as affordable and stress-free as possible.
Before you apply for a loan or make any kind of large purchase, you should check your credit score and history. Raising your credit score by just a few points could cut your interest rates by quite a bit or qualify you for a better loan. There are many different ways to raise your credit score, and some of them will take effect in just a few months. You might also want to consider applying for an auto loan at your current bank or credit union a week or two before you head to the dealership.
When it comes to buying a vehicle, everyone has slightly different needs. A driver might want a car that gets great gas mileage or a larger truck that has enough room for camping supplies. Writing those must-haves down will help you narrow your choices once you get to the car dealership or start researching potential models. You will also need to make a second list of preferences and features that aren’t absolutely necessary such as seat heaters or a remote start.
You should never rely on a single review or website when deciding on a large purchase. While many of the private parties and organizations that write those reviews are reputable, some are employed by the auto manufacturers themselves. After you have narrowed down your choices, you must spend some time going through as many reviews as possible from multiple outlets. You can also ask your friends, coworkers, and family members on their opinions if they have ever owned any of those vehicles.
No one wants to get to the dealership only to realize that they don’t have the right make or model. Luckily, many dealerships, like Young Automotive Group, have online tools that allow potential buyers to skim through their entire inventory. You should be able to narrow your search by your preferred brand or body style. Doing that research beforehand will also give you a better idea of what the final price is going to be.
Before driving off the lot in your new car, you must familiarize yourself with all of the insurance and registration laws in your state as well. Once you have purchased a vehicle, you might only have a few days to update your information with the DMV.