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New Car Buying
Have you ever dreamed of owning your own car? Imagine driving down a tree-lined ­street with the windows down on a sunny day, a warm rush of air streaming through your hair… OK, snap out of your reverie. Before you start mapping out the route to the nearest beach, you just might want to learn some valuable car-buying tips.

The first thing you must decide before you begin your automobile research is whether you want a new car or a used car. Of course, there are benefits and drawbacks on both sides. If you decide to buy a used car, there are sev­eral things you need to keep in mind.

One of the largest benefits of buying a used car is that you can often get a great deal and in many cases, the car you buy may even be relatively new. Successful used car buyers often are just as happy with their used car as new car buyers are with a new vehicle. But remember, the most common car-buying horror stories do involve the purchase of used cars. When you have a good idea of what kind of car best fits your needs and budget.

Determine your budget

When shopping for a new car, make sure you determine how much you can spend on it. AAA’s financial services experts advise allocating no more than 15 to 20 percent of your total monthly budget to car-related expenses. Don’t forget to factor in the cost of car insurance in addition to your monthly car payment.

Arrange Financing in Advance

Before jumping into the driver’s seat for a test-drive, decide on the type of financing you’d like to use (loan, lease or cash). If you’ll be going for a loan or lease, arrange for financing ahead of time. Compare rates offered by your own bank or credit union as well as other local banks to secure the most favorable terms.

Know Your Trade-in Value

While you’ll probably get more money for your old car if you sell it yourself, you may not want to deal with the hassle. If you’re planning to trade in your used vehicle, make sure you know its trade-in value. Use websites like Kelley Blue Book and AutoTrader.com to zero in on a number.6.  Don’t rush your decisions

Take More Than One Test Drive

A test-drive is the best way to find out how a new car looks, feels and drives. Selter suggests taking the first test-drive by yourself and bringing the whole family (and all their car seats) on a follow-up test-drive. This will give you an opportunity to make sure everything (and everyone) fits comfortably.

Check the Spare Tire

In an effort to reduce weight and increase fuel efficiency, auto manufacturers are choosing to skip the full-sized spare tire in many new cars. While you may laugh at the thought of changing your own flat tire (or not — find out how), it’s still good to know if you have a spare on board. Ask the salesperson to show you if there’s a full-sized spare, a temporary spare or a tire-repair kit or whether your car is equipped with run-flat tires (in which case, no spare tire will be provided).

Some Important Tips When Buying a Car

  1. Have a mechanic put the car up on a lift for a full inspection and to check for damage — anything that might indicate a previous accident or possibly flood damage.
  2. Run a Vehicle History Report to get a full history of the car. You can get a Vehicle History Report at CARFAX.com. It will include everything you need to know about the car including: if it was ever salvaged, stolen or recalled the number of previous owners if it ever failed inspection if someone tried to create a fraudulent odometer reading
  3. Never sign an “As Is” statement. Many used car dealers will mix that in with the other paperwork you’ll be asked to sign. As with anything that requires a signature, READ BEFORE YOU SIGN. You should have at least 30 days to make sure the car is in good condition. If you sign an “As Is” statement, once you drive the vehicle off the lot, anything that goes wrong is your problem.
  4. Have your own financing and loan approvals ready before you go to buy the car. (This can also be good if you’re planning on making a new car purchase.)

After buying a car you need insurance in order to finance it.

This policy provides cover to the insured against the risk of death, permanent disablement or injuries resulting from external, visible and violent means. This policy is twenty-four hour (24hour) cover for employees, club members or members of identifiable groups or associations. The benefits receivable are under the following headings:

  • Death Benefits, which is usually a fixed sum or a multiple of annual basic salary.
  • Permanent Disablement Benefits, which is also a fixed sum or a multiple of annual basic salary.
  • Temporary incapacity – weekly benefit is usually payable for a maximum of 104 weeks.
  • Medical Expenses (subject to the agreed limit) to defray the hospital bill incurred for treatments in the event of accident.

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The post What You Need to Know When Buying a Car appeared first on Cheapest Auto Insurance - Oklahoma, Texas, Missouri, Kansas, and Arkansas.

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