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10 Things To Know Before Buying A New Car

Most people desire to purchase a new car once in their lifetime. After all, who hasn’t dreamt of driving off with their loved ones. Though there are many new choices available in the market, looking for a special car which suits best to one’s needs as well as lifestyle can be like a never-ending search.

Mentioned below are 10 things to know before buying a new car:

Budget

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You have to make your budget first before buying a new car. You have to decide how much you can afford to spend on buying a new car. Income, household expenditures and the debt you carry play significant roles while figuring out your budget.

Credit Score

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A credit score is an important part to finance a new car. Lenders use it to determine whether you are qualified or not for a car loan. If you are qualified, then a lender will determine the interest rate you will get on a loan. The average credit score is 714 required to buy a new car.

Loan Pre-approval

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Loan pre-approval means that you are able to give down payment and your monthly income can cover your future car mortgage. Along with your credit score copy, personal documents and income information are required for loan pre-approval.

Research

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You must start researching several cars before heading towards your respective dealer in order to have a better understanding of talks that you will have with him for buying a new car. You can research model, body style and mileage of your dream car. These things can help you avoid being sold on unwanted features.

Negotiate

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You must arm yourself with information before negotiating from a car dealer. Once you have researched the car’s price, then you are able to negotiate for a price or free to walk away, seeking another dealer whose dealing price can fit into your budget.

Test-Drive

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Make sure to test drive a new car to know if it is right for you and your driving needs. You can try a difficult route to see how well the car run on that route when cornering. If you drive the car at night, then it will ensure that the car’s lights work properly.

Car Inspection

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Car inspection enables you to identify the underlying problems of the pre-purchased which can’t be noticeable easily for the first time. If you do car inspection, then you can ask for car modification before purchasing it or opt for another car.

Fuel Efficiency

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You must know the car’s fuel economy in miles per gallon so that you will know what to ask at the petrol pumps. 12 litres per 100km is a poor fuel efficiency, 8-12 litres per 100km is considered as an average fuel efficiency and 5-8 litres per 100km is a good fuel efficiency.

Contract Cross-checking

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A corrupt dealer can increase agreed-upon interest without telling you. Double checking a car contract before signing it is always a good idea. Ask your respective car dealer to explain everything in detail if you are not getting any part of the contract.

Bottom Line

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You need to know and understand your rights after purchasing a new car. You may require time to get familiarize with the warranty package as well as return policies.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Shabnam Dhar is a Copy Editor for OWLT Market.

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