Buying a vehicle can be an overwhelming experience. With so many new cars on the market and various financing options available, it isn’t always easy to ensure you get the best value for your investment. Take some of the stress out of the process by considering the following factors before beginning your search.

Steps to Take When Buying a New Car

1. Know Your Budget

Understanding your budget narrows the search parameters and helps determine what options are available. However, don’t just look at the sticker price of the vehicle. Research the Kelley Blue Book® value of your current vehicle to figure out what the trade-in should be worth. Also, call your insurance provider to determine if the premium will be more expensive for the new car.

2. Consider Life Changes

Look ahead to ensure you get a vehicle that'll accommodate any significant changes that might happen soon. For example, a two-door coupe works for a single bachelor, but it's not an ideal vehicle for a growing family. Similarly, a low-mileage SUV may be cost-prohibitive if you're often stuck in city traffic. Planning for family growth, location changes, and other factors helps to avoid major headaches down the road.

3. Decide on a Purchase Option

Most people have two choices when buying a new vehicle: financing and leasing. Financing means you pay off an auto loan over a defined period, though it also means you're responsible for all repairs and maintenance. After the final payment, you own the car.

The dealer typically covers repair and maintenance costs in a lease agreement, but there are restrictions. Most agreements limit the allotted mileage each year, and if the vehicle is returned with any damage, the dealer can charge hefty fines.

4. Pick the Right Time

Unless there's a major rush to get a new vehicle, time your purchase to get the best value. Most dealerships offer extra incentives at the end of the month and fiscal quarter because they need to meet quotas and flip their inventory.

Similarly, consider waiting for a major holiday to make the purchase. Many dealers will pay more for trade-ins, offer large discounts, and provide better financing options at these times.

If you’re in the market for a new car, visit Crescent Ford in High Point, NC. Conveniently located between Greensboro and Winston-Salem, they have an extensive inventory of new and certified pre-owned cars, trucks, and SUVs. Their helpful sales staff will help match you with the perfect vehicle for your budget and lifestyle for a stress-free buying experience. Call (336) 869-2181 to speak to a team member about your needs, or browse their inventory online.