It can be a daunting process from the initial browsing to that moment when you're handed the keys, filled with the kind of euphoria that will stay with you until your insurance payment.
The folks at Kelley Blue Book understand your angst, which goes back to the world's first ever car buyer. They've come up with 10 tips to get you on your way. These tips won't guarantee you'll get the perfect car, but they should lessen the risk of getting that imperfect car.
- Establish a realistic budget. You are not going to afford a Mercedes on a Kia salary. Ideally you want to pay cash, but if that's not possible, calculate what you can pay while keeping in mind fuel, insurance and maintenance costs.
- Know what you can spend monthly. This sounds like number one, but your monthly payment must be in line with income. Again, factor in insurance and fuel costs to come up with a range of affordability. Do not overextend your budget no matter how tempting the vehicle.
- Establish your transportation needs. Don't look at sporty convertibles if you need a reliable car to get you the 15 miles to school and back. Or if you are head of the carpool, look at something more roomy. Be realistic.
- Prioritize your desires. Although you must be practical, if you spot something with the cool sound system or you just love those 22 inch rims, and it may raise your payments around $40, give it some thought. After all, these upgrades will be cheaper now than as add-ons later.
- Do your research. The Internet was not invented to browse new and used cars, it just seems that way. The web is filled with reviews and guides. On such sites as cars.com, KBB.com and Edmunds.com, you may look up specific models and years.
- Locate a convenient dealer. Although new and late-model cars have never been more reliable, they still need attention and that attention would be easy to access. When weighing a couple of choices, compare dealer locations and, if all other things are equal, showroom environment.
- Take a test drive. So many variables come into play - seat height, wheel adjustment, steering feel, throttle tip in, outward visibility, control layout, etc.-that you must spend a reasonable amount of time driving the car. And that time should be more then five minutes on someone's idea of a stop and go test route. Take at least half an hour, while trying to stop and go, freeway merging and freeway speeds.
- Determine the proper purchase price. This, too, has been made easier by online sites. KBB.com has its fair purchase price, which gives you an accurate idea of what people have paid in your area for your chosen car. A credit union should also be able to provide you with perspective, and may have a contact on the showroom floor.
- Secure financing or know your options. Talk with your credit union, bank or insurance provider (many have the capability and desire to finance your purchase), and line up your financing in advance. You can always go with the dealer option but it's competitive-but never approach it as if the dealer is the only money game in town.
- Enjoy the process. No, really, because when it ends-and it will end-you will have the freedom that comes with your own wheels. Even entry level autos boast solid construction and creative options.
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