That price can be unaffordable for the average consumer, which is why some are turning to used or pre-owned cars.
Look at your budget and decide how much you can pay up front and over time. Don’t forget insurance, parking, gas, tolls, and repairs.
Check your credit report at annualcreditreport.com and correct any errors.
Get pre-approved for a loan. Knowing the rates will help you compare prices between financial institutions. Using your own bank or credit union provides additional protection if something goes wrong.
Research the value of the car. Check guides from the National Automobile Dealers Association (NADA), Edmunds and Kelley Blue Book to find out the average price of the car you plan to buy and trade in.
Beware of “bait and switch” advertising. Ads that promise savings, rates that are too good to be true, or cars that aren’t actually available when you get there are illegal. If you feel pressured, walk away.
The tri-state has lemon laws to protect consumers. See the following links for more information:
Table of Contents
Leave a comment