A New Car - Buying

A popular guideline is to put 20% down , finance for no more than three years , and keep your total monthly transportation costs (including insurance) under 8% of your gross monthly income .

Use resources like Kelly Blue Book and Edmunds to find the invoice price (what the dealer paid) versus the Manufacturer’s Suggested Retail Price (MSRP). 2. Budget Beyond the Monthly Payment buying a new car

To make sure your new ride brings you joy rather than regret, you need a plan. Follow this step-by-step guide to navigate the process, from setting your budget to driving off the lot. 1. Do Your Research at Home (Not at the Dealership) A popular guideline is to put 20% down

In the finance office, you will likely be offered extended warranties, gap insurance, or undercoating. These are usually high-profit items for the dealership and may not be necessary. Review them carefully before agreeing. 7. Inspect Your New Vehicle Budget Beyond the Monthly Payment To make sure

If the deal doesn't match your research or feels wrong, leave.

Remember to account for sales tax, registration fees, title fees, and higher insurance premiums for new vehicles. 3. Get Pre-Approved Financing

Do you need a third row or just better fuel efficiency? Make a list of "must-haves" (e.g., automatic braking, sunroof) and "nice-to-haves".