Buying a new car can be a rather stressful and lengthy process if you have no clue what you are doing, but with this new car buying guide, it can become much easier.
Step 1: Choosing a Car
While a Tesla may be a great car, they are currently outside the price range of most Americans. You have to choose the car that is within your financial capability. You must also consider how many passengers you need to carry, the climate, and safety features which are important to you.
Step 2: Right Price Information
When it comes to new cars there are three terms you need to know about pricing: 1) sticker price; 2) invoice price; 3) true market value.
1) This is the price that the dealer wants you to pay for the car to maximize sales and commission.
2) What the dealer paid the car manufacturer for the vehicle.
3) True market value is the price at which you can likely buy the car.
Step 3: How Will You Finance Your Car?
The average down payment for a new car on a five-year loan is $4,104 with an interest rate of 1.64 percent, which results in a monthly payment of $400.
Step 4: Take It for a Test-Drive
Before you sign on the dotted line, you have to make sure that the car you want is actually the right one for you. Take the car for a test-drive to get a feel for the car. It may turn out you do not like how it feels once you are behind the wheel.
For all of your car coverage needs to keep all of your vehicles protected, contact C.V. Mason Insurance Agency in Bristol, Connecticut. We will work with you to ensure you have the right amount of auto insurance coverage, all at the right price to fit your budget.
