Are you thinking of buying a new car? If you want to avoid the seller taking control over the complete process, you should follow a few steps. You should not take a hasty decision. Make sure you start planning in advance to go about on the right track in buying a new car.
Steps to be taken by any buyer
Step #1
Find the right car – Choosing the right car can be a daunting task because of the numerous options available. You should do a thorough research. There are several websites to help you. They offer comparison tables that compare the features and prices of all cars. Prepare a shortlist of the cars that fit in your budget and your requirements. Read the reviews of the shortlisted cars and then pick the right one.
Step #2
Formulate a budget – Are you planning to sell your car? Find how much price your old car can fetch. Then find how much you will have to pay extra. Don’t forget to add insurance charges and stamp duty to the price of the car. Are you planning to go for financing for the balance money? Calculate how much you can afford to pay every month as installment.
Step #3
Pre financing – Make sure you get pre approval for your finance. Pre approval for finance doesn’t expire in a month. Its validity may last for a few months. You can buy a new car before the validity ends without making any rush. You should find the right lender. You should be familiar with your credit score before applying for the loan. Although, you can go for dealership loan, you may not be provided with dealership loan if you have a poor credit score. If you are looking for a bad credit loan in Canada, you should approach the best auto loan agencies like New Car Canada.
Step #4
Inspection and test driving – Don’t buy the car without inspecting it in person and test driving it. You should ask the dealer a few questions while inspecting it.
- Does the dealer offer any add-ons?
- What are the safety features?
- Are there any theft control packages?
While test driving you should check if all controls are easy to use. If you have a little kid, you should find if a child seat will fit inside the car.
Step #5
Get price quotes – Ask price quotes from at least three dealers. You should also find if additional accessories are offered free of cost or if the dealer charges extra price for that.
Step #6
Negotiation of price – When you are negotiating on the price, make sure you don’t step beyond the pre defined budget. Don’t to any price that will affect your finance position.
Step #7
Paperwork – Before signing the papers you should ensure that all details entered by the seller are correct. You should get the registration papers after a thorough check to avoid problems in the future.
Step #8
Drive out your new car – If you follow all these steps your car buying process will not be daunting. Enjoy your new car drive.