How to Get the Right Car
When you’re ready to buy a new car, you might be tempted to get behind the wheel quickly. But buying a car is a big purchase and you’ll want to make sure you’re ready.
Taking the time to plan, prepare, and understand the car buying process can save you a lot of money in the long run.
With a little patience and preparation, you’ll save money, be more confident in your purchase, and get the car that’s right for you.
Here are 6 easy steps you can take to get the car you want.
1. Think about how much you can afford
Buying a car should make your life easier and more enjoyable, not add more stress. But that’s what can happen if you buy a car that you can’t afford.
If the payments are too much each month and you find yourself struggling to keep up, you’ll probably regret buying a car in the first place.
To prepare for buying a car, you can establish an emergency savings fund and how to set up a budget. You can also use this helpful calculator to figure out how much car you can realistically afford.
2. Keep your credit healthy
Your credit score plays a big part in determining which car loan you qualify for and will affect the interest rate lenders will offer you. A higher score means better rates.
You can make sure your credit score is healthy by:
- Getting free copies of your credit report from each of the three reporting agencies: Experian, Equifax, and TransUnion. Be sure to look for any errors and dispute them.
- Paying all of your bills on time. Make sure to keep your credit balances as low as possible.
- Tracking your credit score. CF Fire Credit Union members can check their score for free each quarter.
3. Search for the right car
Think about how and where you’ll be using your car. Do you have a short or long commute to work each day? What kind of terrain will you be driving on? Do you live in a city or a small town?
These factors will help you determine which make and model best fits your needs.
CF Fire Credit Union members have access to free Auto Buying Services that help make the process easier.