Take These 5 Steps to Buy a Car Without the Stress
🕒 2-minute read
Buying a car is a big deal—and doing it right can save you time, money, and a lot of headaches. Whether you’re considering a new ride or a reliable used model, here are five tips on how to make the process smoother:
1. Do your homework
Start by figuring out what kind of car fits your lifestyle. Need a commuter car? Look for something fuel-efficient. Growing family? A spacious SUV or minivan might be the way to go. Once you’ve narrowed it down, compare prices online to get a feel for what’s reasonable.
2. Set a Realistic Budget
Aim to put down at least 20% on a new car and 10% on a used car. This helps keep your auto loan manageable and can score you a better interest rate. Don’t forget to factor in taxes, registration, insurance, and any dealer fees.
3. Consider a Used Car
New cars lose value quickly—especially in the first year. A well-maintained used car can offer better value. Just be sure to have a trusted mechanic check it out before you buy.
4. Watch the Total Cost
It’s easy to get caught up in monthly payments but try to look at the big picture. A longer loan term might mean lower payments, but you’ll pay more in interest over time. Calculate the total you’ll spend over the life of the loan to make an informed decision.
5. Plan for Maintenance
Cars need regular upkeep. Set aside a monthly amount in a separate savings account for things like oil changes, tires, and unexpected repairs. This way, you’re prepared when the time comes.
Ready to Drive?
At Rave Financial Credit Union, we’re here to help you navigate the car-buying journey. From budgeting tips to loan options, we’ve got your back. Let’s make your next ride an investment worth raving about. Get pre-approved today!