Feature Articles: Miscellaneous
Learning for Better Living
Smart Car Buying
PDF file available in both English and Spanish
Buying a car takes time and work. It helps to know what
kind of car you need or want and how much you can spend.
First you need to decide:
- Size and kind of car you need.
- How you plan to use the car.
- The options you want.
- The price you can pay.
Remember: If the price of the car is high, the
expenses associated with it are higher, such as
insurance and repairs.
Do some homework before borrowing money
- Find the best deal: Bank? Credit Union? Dealer?
- Dealer loans are usually more costly.
- Compare total cost:
- Interest rate
- Length of loan
- Any other cost
- Contract terms
Read the contract carefully. Understand
all the terms of the loan before you sign
it.
Shop Around
- Decide if you want to buy a new or used car.
- Compare prices and models.
- Look for consumer magazines on autos or the Kelly Blue Book at the library.
- Talk to your mechanic, friends and relatives.
- Call car buying services.
- Be ready to negotiate the price.
- Keep the deal simple.
- Negotiate the lowest total price,
NOT the lowest monthly payment.
Look for the best car loan. Have your own loan or credit approved before you go to buy a car. This way you will be sure to get the best deal.
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Last update: Tuesday, May 05, 2009
