Heading to any store – whether it’s a grocery store, or a huge department store – without a plan is a recipe for disaster. You could end up wandering aisles aimlessly for hours, buying things you don’t need. The same sort of principle applies to purchasing a new car. Do your research before you visit a dealer. Narrow down your car choices – based on your price and your lifestyle needs. Today, people are fortunate that it’s easy to do this with the internet. Potential car buyers can scan any number of helpful consumer sites. However, don’t forget to check out the sites of local dealers. For example, if you live in the Boston area, it would be prudent to check out the AutoFair Ford Website. Why? As one of the largest dealers in the area, they offer the right balance of inventory to available and incentives to sell it.
Watch the Numbers
If you could walk onto a lot, and pay cash, in full, for a car, then you don’t need to read this. However, if you one of the millions of Americans who plans to finance their vehicle, then this section is very important for you. Let’s start with the age old question: Should you buy or lease a car? You should lease a car if you plan to drive little and get a new car in fairly quickly – perhaps within a year. You should buy a car in every other circumstance. When you own a car, you can drive it as much as you want, and when it comes time to trade it in for something new, you have some “equity” to add to your new down payment. It’s important to have good credit when buying a new car. For example, those who apply for an AutoFair Ford car loan, if they have great credit, can qualify for low rates – sometimes as low as 0 percent financing. Remember: The lower the rate, the more money you save.
Don’t Forget to Read the Fine Print
A car loan is an important commitment, so when taking one out, be sure that you read and understand all the terms and conditions of the loan. For example, when is the payment due? Do you have a grace period? What is the interest rate? Is there a penalty for paying it off early? Is there an incentive for paying it off early? Understanding the terms of your loan will help you plan for your future and meet all of your financial commitments.