Buying a
car is such a fun process. I remember going car shopping for my first car. I
loved the new car smell, the various choices and the fact that I could
customize my car. I also remember my mom not letting me drive it off the lot
because, “I had never driven the car before." Well duh! But I didn't
argue, I was so excited to have my own car.
The car
buying process can be enjoyable but there was a lot I was unaware of. It's not
always as simple as walking in and walking out with a new set of keys. There
are many things you need to do before walking into the dealership and a few
things to follow too.
First
things first, check out your credit score several months to a year before you
start the car buying process. Look at where your score is, and see if there is
anything on there that could hurt the loan approval process. And take those
next few months or even a year if needed to build your credit score and make it
stronger. Trust me you'll thank me later.
While
you’re working on your credit score, work on saving money for your new car too.
Tuck away a little bit from each paycheck and use that money as a down payment
to help lower your monthly payment or keep it tucked away for an emergency fund
in case you have any major issues with your car once the warranty expires and
if nothing else you have a nice savings account growing.
When your
credit is where you'd need it to be, come visit us and get pre-approved. This
will help give you a better idea of what you can realistically afford. We'd all
love a Ferrari, but it's not in everyone's budget. Within the pre-approval
process, a Tropical Financial employee will also sit with you and discuss the
estimated monthly payments, the amount based on the price range of the car and
the loan amount as well as provide assistance for you with the car buying
process if needed through our partner Auto Advisers.
Once
you've been pre-approved and you know your price range. Go shopping!! This is
my favorite part. I love test driving the cars, listening to the sales pitch,
seeing all the options available and picking what fits me. Then I go online and
compare all of my options. I look at the safety rating and the customer reviews
and I work towards narrowing down my options.
Don't
forget, on top of doing all the paperwork to purchase this new car of yours,
you also need to be sure and have auto insurance as it is required in the State
of Florida. Be sure to contact your auto insurer to find out pricing prior to
buying the car and if you don't already have an auto insurance agency, then do
some shopping around to see who will give you the best rate on insurance. You
want to be sure to have this in place before you purchase the vehicle so that
you're not blind sided with the cost of things.
The
perfect car awaits you! You've made up your mind so now it's time to close the
deal. It's time to sign the paper and hand over the check and it's time for you
to drive away in your new car!
Enjoy and
don't forget to make your monthly payments on time...
^Alysha
I've been to the car buying rodeo more than once and the one thing that has always remained the same is the need to start doing your homework right away. It doesn't matter if I was shopping for new or used vehicles, I always had to make sure I knew what I wanted BEFORE getting to the dealership.
ReplyDelete