5 Things you Need to Know Before Buying a Car

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Buying a new car can be a stressful and intimidating time. Salespeople at car dealerships are excellent at their jobs and can pressure almost anyone into buying a vehicle before they’re ready. Yet, there are things you can do to be well-prepared and avoid falling for any sneaky tactics!

Things to Know Before Buying a Car

buying a carImage Source: Flickr

Ready to arm yourself with all the right information to ensure you get a great quality vehicle for the lowest price possible? Here are five things you need to know before buying a car.

Check your Credit Score

When buying or even leasing a new car, you will need to be aware of your credit score. The average credit score required to buy a new car in 2019 is about 718, or 659 for a used car. If yours is higher, this can help you to negotiate better deals and save hundreds to thousands of dollars at the dealership. The higher your credit score, the lower your interest rate will typically be.

Think about Financing

Keep yourself out of any future trouble by knowing exactly the monthly payment and deposit you’ll be able to afford. Worrying that you don’t have enough money to get the car you need? Luckily, there are many great car finance options available. If you’ve found loans tricky in the past, now is the time to easily find a better car finance deal. Money Expert compares car finance providers side by side using a comparison site, so you can easily get a quote and find the right solution for you.

Shop Around

Never go to a dealership unprepared! Do your research ahead of time to know exactly what kind of car you can expect to be able to purchase. Look up the best cars for families in 2019, for example, and learn what you can. Whatever type of car is best suited to you, be sure to read a few unbiased reviews on different makes and models.

Compare Prices

Once you know what car you want, visit a few different dealerships to gather detailed pricing information. You can also utilize price guides online. As mentioned earlier, your credit score plays a huge part in how much a car will cost you, so remember to bring all of your information with you and negotiate at a few different places before you commit to buying.

Research your Trade-in’s Value

One more thing to research ahead of time is the trade-in value of your car. If you don’t want to sell your old car privately, you can sell it back to the dealership, also known as trading in. You don’t need to wait for a salesperson to tell you what your car is worth, however. Find out the market value of your current car online using factors like condition, age, popularity and demand.

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