Expert Car Buying Tips

Posted on: May 5, 2017 by Goodrich & Watson

If you’re like most people, the thought of buying a new car is nothing short of daunting. While it might be a necessity to get from point A to point B, the process doesn’t have to be a stressful one. Armed with these simple tips and strategies, you can confidently shop for, evaluate, and purchase your next vehicle. Read on to discover how to ease the car buying process and protect your new (or used) vehicle with a Virginia Auto Insurance policy.

Set a realistic budget.

The newest vehicle with all of the additional features might be your desired pick, but can you realistically afford it? Set your sights on a car that’s within your budget so you don’t go overboard. Ideally, you should spend no more than 25% of your monthly budget on your vehicle, fuel and insurance costs included.

New vs. used & buy vs. lease?

Depending on what type of vehicle you’re looking for, and what kind of warranty you want, these options are completely subjective. Buying a new car will come with a warranty, but will cost you a pretty penny. On the contrary, a used car will be less expensive but unless you have the full report on its history, you won’t know where it’s been.

Buying the car will mean you’ll own it once the loan is paid off, which is attractive for many buyers. However, a lease ensures you can upgrade when you’re ready and can trade in for a newer model without a headache.

Determine what works for you when searching for a new vehicle and weigh your options before test driving.

Secure your financing.

Dealers don’t just want to sell you a car, but they want to coordinate the car loan, too. That’s because they typically receive a flat fee or a commission on the auto loans they facilitate, regardless of whether the loan is from the manufacturer or a local lender. So, secure financing from a bank or credit union in advance and compare it with what the dealer offers, explains Bankrate.

Research discounts.

Research incentives and cash back opportunities when purchasing a vehicle. Be sure these discounts are applied after you have negotiated the price, this will save you the most money.

About Goodrich & Watson

Whether you are in the process of buying a new car or have owned your car for many years, you can trust Goodrich & Watson with all of your car insurance needs. Your home is your greatest asset. Protect it with insurance you can trust. For more information, contact us at (757) 591-2032.

Posted in: Auto Insurance blog

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