A Checklist For A New or Used Car Purchase

A checklist should include what’s really most important to you, as you shop for a new car.

You can skip it of course and just simply buy a car on impulse or let someone you don’t know talk you into the second largest purchase you’ll ever make.  And… it might work out O.K., but the odds are you won’t be getting the best car for you and your family, and you’ll probably be getting less than the best value.

A basic checklist should include everything you need to make a good decision, and it isn’t limited to just the actual car itself.   It should be a comprehensive list of all the things, relative to the purchase, that you want and need before you to ultimately decide to buy.

Some Important Elements For Your Car Buying Checklist:

Financing – Before you even start shopping for a new car, sit down and figure out how much money you have for a down payment, and how much you can realistically afford to pay each month. After that, you need to check with your bank or credit union to see if you qualify for a car loan. While most dealerships can and will arrange financing, checking ahead of time will allow you to find the best deal and let you know the price range and terms you should be looking for in your new car.

Research – Go online and check out all the cars you’re thinking of buying. This is on almost everybody’s checklist for buying a new car.  The more you know the better choices you will be able to make. Be sure to know the manufacturer’s suggested retail price and any special offers available in your area.  Shop individual dealer web sites for specials as well.  Many times the prices offered on the dealer’s website are the lowest the dealer is willing to sell for. Check multiple dealerships.  Not every dealership will be able to offer you the same deal and they will not all offer the same kind of deals.

Equipment – Make sure you get the equipment and features you really want and need.  If you aren’t comfortable driving a manual transmission, don’t buy a car without automatic just because it’s the dealership’s advertised loss leader.  Get power locks and windows with a security system if you can afford it.  It may be a more important safety feature than the airbags or the five star frontal crash rating.  Buy only the high tech features that you will really use.  If you never drive more than 10 miles from home or if you have a perfect sense of direction, pass on the GPS.

Miscellaneous Checklist Items – Check with your insurance company to see how a particular model will affect your premium.   What is covered by the warranty and is the warranty transferable when you decide to sell?  Is Roadside Assistance included with the warranty?  Check fuel efficiency on the models you are considering and weigh the benefits of gas, diesel, and Hybrid.  Then make an educated decision based on your driving habits and budget.

Car – Now you’re getting to the relatively fun part of your car buying experience: the car.  A new car should be flawless and in perfect working condition.  Don’t take a car on a test drive unless you are serious about the car.  After you test drive the new vehicle, odds are that you’ll want to buy it… that’s an established psychological fact.

Deal – Make your best deal, based on your research, and be on the look-out for vague or hidden fees, as well as unnecessary options.  No matter how much you like the vehicle, be prepared to walk out of the dealership if the deal isn’t right.