What Should I Do Before I Buy A New Car?
What Should I Do Before I Buy A New Car?
Wow, what a great question. Buying a car isn’t something you should rush into. It’s best to consider a few important factors before making your decision and completing the purchase. Here at Toyota of York, we want to help you through the process by keeping you informed of what it entails. Financing is a big part of buying a new Toyota model, or any new vehicle, so you should ask yourself a few key questions before driving home in your dream car. Keep reading to learn more.
1. Do Know Your Needs
A good start would be to make a list of what you need out of your next vehicle. If you have a long commute, you might want something with great gas mileage, such as a hybrid or compact car. Are you more style-oriented? Perhaps a sports car or convertible is your best choice. Maybe you’re looking for something with more cabin space, in which case a crossover or minivan might work best. However, if you’re strictly utilitarian in your transportation, a truck or SUV might be a good bet. Whatever you choose, keep those factors in mind as you shop.
2. Do Research
Look into the specific models that you come across while shopping. This is actually the fun part. Manufacturer’s websites are usually designed to make this easy, offering detailed breakdowns of the features for each model, and organizing them by category. This will help you avoid leaving out equipment that you might be looking for, such as navigation, USB ports or collision avoidance.
3. Do Know How Much You Can Afford
This is arguably one of the most important factors to consider – your budget. Navigating the financial side of car buying can be tricky, but it doesn’t have to be prohibitive if you set a budget. Our finance department at Toyota of York has helped plenty of customers through the financing process, and we’ve come up with a few helpful tips to make things easier. First, we recommend placing 20 percent down on your loan. Second, limiting your loan term to no more than 60 months helps keep expenses incurred through interest to a minimum. Finally, keeping your monthly payments under 10 percent of your monthly income helps guarantee affordability. All of these numbers change based on your credit score, credit history or current financial situation, but they can be helpful guidelines in the meantime.
4. Don't Trade A Car That Has Negative Equity
Something you’ll want to avoid is trading in a car that’s worth less than what you owe on it – or a car with negative equity. This debt will follow you into your next loan, meaning you’ll be paying off two different cars at the same time. To avoid this problem, use our helpful value your trade tool ahead of time to ensure that our offer wouldn’t leave you owing anything on your vehicle.
5. Don't Rush Your Test-Drive
The test drive is one of the most important – and fun – parts of buying a new car! Take your time and enjoy the ride, noticing how the road feels in the cabin, how the car handles, how the features work and more. Bring along a list of your must-have features to keep things on track. And don’t forget – our experts are thrilled to help you through the process, so don’t hesitate to ask us any questions you may have about the vehicle or the process of buying it.
Interested in purchasing or leasing a new Toyota? Come visit us at Toyota of York at 1885 Whiteford Road, York, PA 17402. We look forward to serving our customers from York, PA, and throughout Hanover, Lancaster and Elizabethtown.