Before looking at cars, determine how much you can actually afford. Financial experts often suggest the as a guideline:
The Car Buying Process in Seven Steps - Harvard Federal Credit Union
: Total car-related expenses (including insurance and maintenance) should ideally stay under 8% of your gross monthly pay. 2. Research Your Options car buying process usa
: Check ratings from authoritative sources like Consumer Reports or the IIHS .
: Calculate long-term expenses like gas, insurance, and the 30-60-90 rule for major maintenance milestones at 30k, 60k, and 90k miles. 3. Secure Financing Early Before looking at cars, determine how much you
Getting pre-approved for an auto loan from a credit union or bank (like ) before visiting a dealership gives you more leverage. It allows you to compare the dealer's interest rate against your pre-approved rate to ensure you get the best deal. 4. Shop and Test Drive
: Don't settle for the first place you visit. Compare how different dealerships treat customers and their specific inventory. Research Your Options : Check ratings from authoritative
: Paying this upfront helps you avoid being "underwater" on your loan (owing more than the car is worth).
