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Buying a new car can be both exciting and frustrating. Hopefully these tips will make the process a little easier for you. Before you go to the dealership, do your homework! This can help you find a great deal on the car of your dreams.

1.      Know What Kind of Vehicle Is Best for You

With so many different cars out there, how do you find that perfect one?  Know what you want out of your car. If you have kids, you might need a bigger car than you’re used to. When you’re at the dealership, or doing your online research, think about the style that's best for you and your needs; sedan, minivan, convertible, coupe, etc.

2.      Prepare Ahead of Time

If you do your research before you hit the dealership lot, you are much more likely to get the best possible price. Before you go, make sure you spend some time looking at the features and options available on the cars you’re interested in. Knowing what features you want and how they impact the total cost of the car. Prioritize the features you definitely want and the ones that would just be nice to have.

3.      Know How Much You Can Spend

Now that you have narrowed down the cars you’re interested in, here comes the hardest part: staying on a budget. If you know you would rather stick to an economy car budget, avoid splurging on a premium car. We recommend that when you are buying a new car, you should put about 20 percent down, limit the term to no more than 5 years, and try to keep your monthly car payments lower than 10 percent of your income. When you are calculating costs, keep these key factors in mind:

· If you usually have a daily commute, figure out beforehand how much you will be investing in gas and compare your current mileage to the EPA Fuel Economy of your potential new car.

· The total price of your new car will fluctuate based on sales tax and dealership fees. Therefore, you should add this when evaluating the monthly cost, or you could potentially underestimate the total costs and end up going over budget.

· Don’t forget to save room in your budget for annual maintenance; so cars are much more likely to need work than others

· Once you calculate your total price, financing the car should be about $20 for every $1000 financed over 60 months (this is an approximate measurement for buyers with good credit), so be sure to keep that in mind while considering your next vehicle.

· Last but not least, make sure you know your credit score before you come in. Don’t find yourself being caught off guard by high rates when you reach financing. We don’t want you to risk being told you do not qualify for your new car!

4.      Contact Your Insurance Agent in Doylestown, PA to Learn about Premiums Ahead of Time (That’s Us!)

It may seem a bit strange to get in touch with your insurance agent before purchasing a new car, but knowing what to expect before you take the leap will save you time and frustration. Depending on the car, your premiums may change based on certain models and features, so this could actually impact what vehicle you choose. Why risk the heart break? Come talk to your Keenan Insurance Agent in Doylestown, PA - we would love to help make sure you get the best plan for your new vehicle and your wallet!

5.      Do Not Trade in a Car That You Owe More than it’s Worth

This can be a very dangerous move. Because the amount on the old loan may be combined with your new car loan, you’re looking at a bigger, scarier loan. And that is no fun for anyone. Avoid negotiating terms for your used cars until you settle on terms for your new vehicle.

For more information on the do’s and don’ts of buying a new car, (or for a no-obligation quote on Farmers® auto insurance), contact one of our Keenan Insurance Agents in Doylestown, PA at 215-345-6670 or contact us via our website.  


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