Buying Your First Car: What To Know

Buying your first car can be confusing, exciting, and stressful all at once. No matter what you’re feeling, you’re about to take a huge step towards independence (both literally and financially)! As far as the stress and confusion go, we have a few quick tips to help you prepare. 

Make sure you’ve set a budget and saved for a down payment. Knowing how much you want to spend and how much you can put down is key. Pricing and terms can get confusing fast. Set your budget and save as much as you can! The more you put down, the lower your monthly payments will be. 

Get pre-approved for an Auto Loan. Getting pre-approved helps you set a budget and stick to it. You’ll be able to determine what you can afford beforehand rather than at the dealership, where they can push you to spend more. You may even get a better interest rate than you would through the dealer!

Don’t be afraid to negotiate. Negotiating can seem scary, but more often than not, you’ll be able to strike a deal. All you have to do is ask! Don’t be afraid to walk if the price isn’t quite right. The dealer will most likely compromise with you within reason if they think you’ll leave empty-handed. 

Happy shopping! Need an Auto Loan? Apply now and drive off in your new ride ASAP.