You’ve researched the make and model you want in your next vehicle. You’ve calculated what you can afford each month for your new auto loan. You’ve found a dealership you trust to make the sale happen. It’s finally time. You drive up to the dealership, full of excitement. You’ve put in the work on the front end, so driving off the lot with your new car should be a breeze, right? Well, not exactly. Most car buyers—even those who come prepared—spend several hours at the dealership when they’re ready to seal the deal. In order to avoid getting frustrated over the time you’ll spend at the dealership, read on to learn what to expect when buying a car and why the process won’t be over in a matter of minutes.
When most people gear up to buy a car, they often begin by deciding whether to purchase a new or used vehicle. Taking the time to consider the updated entertainment, design, and safety features of a brand new vehicle compared to the potential purchase price and slower depreciation of a used vehicle is wise, but so is understanding the differences in financing a new vs. used car. There are variances in the auto loans offered for new and used vehicles that should be weighed just as heavily as the look, feel, and price of your next car. Here’s what you need to know.
If you’re like most people, you probably want to feel like you’ve scored the deal of a lifetime when making a major purchase. Buying a car fits firmly into that category, much like scoring noticeable savings on a new TV or a dream vacation. Regardless of whether your car purchase was planned well in advance or showed up as an urgent need, driving off the lot with a new set of wheels is more exhilarating when you know you saved some cash in the process.