4 Steps to buying a new car

Buying a new car is a big step and one that will require a bit of planning. Here are four steps that can help you buy a new car with ease.

Step 1: Research vehicles and features – Look at auto sites and reviews on cars that you are considering. It is also a good idea to list out the features you are looking for in your new car, to ensure that the cars you are considering has the features you want.

Step 2: Pre-approved car loan – A pre-approved car loan will give you an idea of how much you can spend on your new purchase. You will need your employer and salary information to give in your application for loan approval.

Step 3: Trade-in strategy – If you are trading in your old car, get a trade-in value so that you have an idea of what to expect and a reference point when you receive offers. Dealer retail values will be lower than private party values. If you have time, selling your car privately will get you the highest price. However, if you are in a hurry, opt to visit a dealer who will buy your car immediately.

Step 4: Locate and test-drive the car – Locate a dealer who sells your car and sort through your choices by color, trim and features. Always test drive a car you are considering as it will give you a good idea of how the car feels.