Buying a vehicle from a car dealership has become easier these days, but it doesn’t mean you can go into it blindly. Flexible financing options, big rebates, longer terms, and a few extra perks can be enticing to an eager buyer. But by skipping research or not taking the time to understand all the stipulations of your purchase could hurt you financially. Here are a few tips to set you on the right path.

Ways to Get Ready for Buying a Car

1. Save for a Down Payment

A zero percent down payment offer sounds too good to be true, and it often is. It’s typically reserved for buyers with excellent credit ratings and comes with a few trade-offs, such as longer terms and higher monthly payments. Rather than go this route, save up enough to pay at least 20% upfront. Larger down payments mean lower interest rates and monthly payments. Just ask the car dealership about your options. Or better yet, use a loan calculator online to better gauge your financial capacity.  

2. Bring Your Credit Score Up

 A good credit score gives you leverage when negotiating for lower interest rates or discounts on the sticker price of a vehicle. Before walking into a car dealership, check your score to avoid surprises. If it’s poor, try to get it up first by improving your credit history and reducing outstanding balances.

3. Create a Budget

There’s no hard and fast rule about setting a budget for your car, but it’s the most important task that you should do. When doing the math on your income and expenses, base the computation on your actual take-home pay (your net income after taxes and work-related expenses). Aside from monthly payments, factor in other costs of ownership, such as fuel, repairs, maintenance, taxes, registration fees, and insurance. If you can afford these expenses and comfortably meet your other financial obligations, then you are ready to make a car purchase. 

It’s essential to be financially ready before visiting a car dealership. For first-rate used cars and new trucks, stop by the showroom lot at Swant Graber Motors in Barron County, WI. Since 1941, they have consistently offered an impressive lineup of vehicles from top-notch brands at excellent prices. Call (715) 537-5657 to inquire about a particular model or browse their extensive selection of vehicles online.