What you should know before and during your car purchase

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That new-car smell! 🙌

You're probably already smiling, thinking about the first road trip, hoping nobody gets it dirty, or looking up every accessory you want to add.

💪 Buying a car is an exciting experience you won't forget, but it's a decision that takes research. It can also be an uphill climb if you're not prepared. There are things worth knowing ahead of time, from getting your finances in order to navigating conversations with the dealer.

Keep reading this guide and you'll come out ready to buy.

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What you need to know before buying your car 🚘

The key to a successful purchase is preparation. Before you go for the test drive, ask yourself:

With that in mind, let's start with some basic steps to guide you through the process.

Assess your financial situation 📝

• Review and set your budget: decide how much you're willing or able to pay. Remember to account for more than just the monthly payment: gas, maintenance, insurance, tolls and registration, among other costs.

• Check your credit: your credit plays an important role in determining whether you get the loan you need and at what interest rate. If you think your credit has room to improve, take a look at these tips for raising it.

• Start saving: If you plan to make a down payment, set up a savings plan. Here are some tips on how to save and transform your finances.

Do your research before buying 🔎

• If you already have a car and are considering a trade-in: research its current value and check what you may still owe on it.

• Compare makes, models and prices: use the PopularAutoPR digital platform to browse inventory from more than 60 dealers, and compare makes, models (new and used), prices and offers. These will make your research easier.

• Evaluate key features: Safety, fuel efficiency, technology and lifestyle fit are essential specs that will help you make an informed decision, and with PopularAutoPR.com you can compare these and more.

• Browse offers: Visit the offers section to find the special promotions Popular Auto has on a variety of vehicles and makes.

• Move forward with Popular Auto: You can speed up your buying process by contacting the dealer of your choice directly through PopularAutoPR.com to schedule your visit, find your next car or start your credit application, 100% online.

You're heading to the dealer 😎

The goal here is to find the car that fits your lifestyle. The good news is that talking with a sales representative can shed light on the best options for you.

Here are some tips to help you negotiate your best deal:

Guide to Buying Your Car

1

Prepare your list

Arrive at the dealer informed, with details about the car you're looking for, from the price to the specs and accessories.

2

Bring all your documents

Social Security number, income information, your current employer's phone number (if you've been there less than 6 months, you'll also need the name and phone number of your previous employer), and a utility bill.

3

Incentives?

Remember, it never hurts to ask. Many dealers offer discounts or have vehicles with bonuses or seasonal promotions. You can also visit the Online Deals section at PopularAutoPR.com to find special promotions.

4

Be clear about your budget

When the time comes to talk price, be clear about how much you're willing or able to pay.

5

Negotiate the extras

Consider things like extended warranties, accessories, additional maintenance and whether they have a service center.

6

Understand and discuss the loan terms

Explore your financing options at PopularAutoPR.com or call us at 787-294-2568.

Ready to get in your new car 🔥

Buying a car can be both exciting and overwhelming, but having the right knowledge will help you enjoy the process. So:

✔️ Research

✔️ Review and set your budget

✔️ Make the most of available tools, like those at PopularAutoPR.com, to get your best deal. Such as:

• Compare and choose from a wide variety of inventory (new and used cars)

• Contact the dealer and schedule a test drive

• Calculate your estimated monthly payment

• Apply for financing online

*Beep-beep!* We wish you a successful purchase. Enjoy your new car and make great memories in it!

The suggestions and recommendations in these articles are offered solely as financial guidance. If you require any type of advice related to this article, you should seek it from a qualified professional of your choice.

Subject to credit approval; certain restrictions apply. Product offered by Banco Popular de Puerto Rico, Member FDIC.

Popularautopr.com (the website) ("PopularAutoPR") is solely a research and communication platform. Popular Auto is not a seller, dealership, distributor or participating motor vehicle dealer, broker, agent or vehicle representative for dealers, nor a provider, broker or agent of other services related to the automotive industry offered by third parties. Popular Auto does not receive a fee from participating dealers or third-party service providers in connection with this platform.

All participating dealers are duly licensed motor vehicle dealers and are not affiliates of Popular Auto.

Unless otherwise indicated, all vehicles shown on this website are for sale through licensed motor vehicle dealers and not through Popular Auto.

By using PopularAutoPR, you acknowledge and agree that, with respect to new vehicles, the dealer may not have in inventory the exact color or model of the vehicle shown on PopularAutoPR, and that certain models and/or colors may not be available. You should confirm vehicle availability with the dealer. Each dealer sets and controls the price of the vehicle offered and available for sale. If you wish to negotiate the purchase price presented by the dealer on PopularAutoPR, you must do so directly with the dealer. Popular Auto has no involvement in that negotiation.

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Prices and offers are exclusive to dealers and are subject to change.

This content was translated with the assistance of Artificial Intelligence (AI).