Blog / Merle Stone Chevrolet Dealer

Preparing to Buy a Car

Wallet with money and car in the background
Whether it's your first vehicle or your fifth, buying a car comes with its own set of challenges. That's why we've put together this list of helpful tips and strategies. Use this handy guide before you head to the dealership so you'll be better prepared for your next new set of wheels.

Set a Budget

The first step in the car buying process is to set a realistic budget. Expand your thought process here because there's more to owning a car than your monthly loan payment. Remember to include essentials like gas, insurance, and maintenance. Once you've got this bottom-line number, you'll have the tools you need to negotiate a deal. It's also a good idea to have a sense of how much money you want to put down. If you need help putting together your budget, use an online car affordability calculator, such as the one by MoneyUnder30.com.

Do Your Research

The last thing you want to do is arrive at the showroom without doing any research. What kind of vehicle do you need? If you have a large family, you may want a three-row SUV like the Ford Expedition, or if you have a long commute, consider a fuel-efficient option such as Ford's Fusion Hybrid. Resources such as U.S. News and World Report rank cars based on real-world data. You can search for things such as “best cars for families” or “best used full-size trucks.”

Test Drive Your Prospects

Once you've narrowed down your options, head to your local showroom for a test drive. If you're buying pre-owned, it's a good idea to inspect the car to ensure it's in good working order. Listen for squeaks, rattles, or whining noises. Check the body for dents, rust, and cracks in the windshield. Turn on the infotainment system and the A/C, roll the power windows down, and make sure to take your test drive to the highway, so you can see how it performs at speeds over 55 miles per hour.

Boost Your Credit Score

Having a good idea of your credit score will help you negotiate your interest rate. If your credit isn't as great as you hoped, use these tips to give it a boost:
  • Always pay your bills on time.
  • Make frequent, "micro" payments throughout the month to keep balances low.
  • Dispute any errors on your report.
  • If you don't already have credit, apply for a secured credit card backed by a cash deposit.

Financing Options

Get to know your financing options, including direct lending and dealership financing. You may choose to borrow money directly from a bank, finance company, or credit union, or you can apply for financing through the dealership. Pay attention to the interest rate and the period of time in which you'll have to pay. The higher the interest rate and the longer the term, the more your new car will cost you. Avoid buyer's remorse when shopping for a car with these steps. Having a clear picture of your budget and vehicle requirements will help power you through negotiations with confidence.
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