One of Your Biggest Purchases
For most people, a car is the second biggest purchase after a home. Don't wing it.
Step 1: Set Your Budget First
The biggest mistake: falling in love with a car then trying to make numbers work. Start with the numbers. Use the 20/4/10 rule. Get pre-approved so you know your rate and budget.
Step 2: Define Needs, Not Wants
How many passengers? What's your commute? Cargo space? Parking? Weather conditions? Let answers guide vehicle type.
Step 3: Research Models
Identify 2-3 models. Check reliability ratings, owner forums for common issues, insurance quotes (can vary $100+/month), fuel economy.
Step 4: Find and Inspect
Find 2-3 examples locally. Schedule back-to-back test drives for fresh comparisons.
Step 5: Negotiate and Close
Bring pre-approval. Negotiate OTD price, not payment. Don't buy add-ons in finance office without research. The car will still be there tomorrow.