Do you dream of a new car? This is the right time to stop dreaming and start to take action. Firstly, you have to ask yourself, how about your family budget and how much car you can afford? Before you just set up your budget for your vehicle, then you might want to make a “wish list” first. You might want to spend as little as possible for your new car, but there are some “must-haves” for your next vehicle. Such as if you have three kids, then you might want to consider purchasing a minivan or SUB, rather than a subcompact vehicle. If you have a plan to tow the boat, then you need something which is really powerful. You have to be honest with yourself, then you should not forget to check the prices on the official manufacturers’ website and select the best car to buy.
The car salespeople will said that the feel of the wheel would seal the deal. This is true and you might doubtful to test drive of your option. This is also the easiest way to finish the job – you have to set aside the morning, it is preferable on the weekday when the car lots were empty and you are able to call the dealership’s department. Tell them that you want to get a test drive but you will not buy on the spot as you need to compare different models.
Before you start to welcome the new addition to your family, then you need to know your budget. When deciding how much you spend on your car, then you have to see what type you can afford based on your income and expense as well. Then you have to ask yourself, what car can I afford actually. This is the first question for you and becomes the main question which been asked by dealer finance or banker. Do not be surprised if the finance staff will ask you to document your income or phone number that they are able to call in order to confirm your employment. Your income might include some items such as social security, tips, business income and so on.
Understanding your asset
In order to get your car loan, then you will need to provide the down payment. Assets can be money in your bank, obligation or stock as well. Having a bigger down payment also helps to persuade the credit manager that you were credit-worthy.