Buying advice

Before you buy a car, you should think about these things:

• Do your homework: You should learn about the car model, features, and price before you visit the dealer. You can also look at different choices and read what other buyers say.

• Compare financing options: You should find the best financing deal before you go to the dealer. You can use online tools or talk to your bank or credit union to get a loan approval in advance. This way, you can avoid paying more interest or fees at the dealer. • Set your budget and know your credit score: You should know how much money you can spend on a car and what your credit score is. This will help you bargain better and avoid getting into debt. You can check your credit score for free online or through your bank.

• Pay 20% upfront: You should try to pay at least 20% of the car price as a down payment. This will lower your loan amount and interest costs, and also prevent you from owing more than the car is worth.

• Consult your insurance agent: You should talk to your insurance agent before you buy a car and find out how much it will cost to insure it. Expensive cars usually have higher insurance rates, so you should include that in your budget. You can also compare different insurance quotes online or through an app.

• Split the transaction into parts: You should divide the car price, trade-in value, financing, and extras (such as warranties, accessories, or fees) when dealing with the dealer. This will help you get the best price on each part and avoid paying more than you have to.

• Think about depreciation: You should know that expensive cars tend to lose their value faster than cheaper cars. This means that you might not be able to sell your car for as much money as you paid for it in the future. You can use online tools or apps to calculate the depreciation rate of different cars.