Last year, Business Insider confirmed that “the average age of vehicles owned by households increased from 9.3 years in 2009 to 10.5 years in 2017.” Cars are living longer, but they’re still not invincible—we must eventually replace them. However, shopping for a new car doesn’t have to be an unpleasant experience. Purchase the car you love by following our three new vehicle buying tips. Make sure you know sell your used car beforehand.
Research Potential Vehicles
The first step is to do your homework—sift through online reviews to find reputable vehicles that suit your interests and needs. By already knowing what type of car you want, you can expedite the buying process.
Set Your Price Range
Before you go shopping, it’s important to first set a budget. Once you determine what you’re willing to pay (typically the MSRP price), confirm the value of your preferred vehicle through a website such as Kelley Blue Book. Numerous factors can affect the price, so negotiate for a better deal based on the dealer’s price, or the “invoice” price.
Also consider whether you’ll be trading in your car to a dealership or selling it to an independent buyer. Research your old vehicle’s value so that you can get the most money for it. Then, negotiate a price—the golden rule is to mention your trade-in after you’ve determined a fair price for your new vehicle. Whether you plan to sell your car in Fort Worth, Dallas, or Austin, you want to receive a decent sum to put toward your new car.
Unless it’s an emergency, you don’t need to commit to one car initially. There are dozens of cars out there, so select a few options and see who can give you the best deal. If possible, see them all in person before making your final decision. Additionally, your “new” car doesn’t have to be brand-new: consider looking at used cars in exceptional condition. You’ll likely pay less for a used car, and it will still run like new.