Guide for Buying a Dream Car on a Budget

Posted October 18, 2022 by in Lifestyle
woman in blue shirt standing in front of black Jeep

Getting that dream car you have always wanted is easier said than done. You are going to want to filter out specific options and make sure you are going car shopping with a purpose. Each person has a unique take on what their dream car is, but the journey is always going to be the same once you start going through the process. 

1. Find The Car

Before doing anything else, you will want to know what type of car interests you. This is a must.

You will want to think about the:

* Body Style

* Gas Mileage

* Transmission 

* Number of Passengers

* Drive Train

* Engine Type and Size

* Towing Capacity

* Audio System

* Navigation

* Exterior and Interior Color

* Storage Capacity

* Power Equipment (Mirrors, Windows)

* Sunroof and Moon Roof

* Seating Material

* Safety Features

These are important details to think about before moving towards finding out which dealerships have the car you want.  

2. Analyze Market Pricing And Financing Options

Before heading to the dealership, it’s important to be aware of what you are getting into. This is the best way to make sure you are choosing wisely and digging deeper into the car finance direct options available to you.

You will want to know what the going rate is for a vehicle that you want. This will allow you to make a reasonable offer and not pay too much. This can also include taking a look at the safety ratings and ensuring the vehicle is reliable. When you are going with a particular vehicle, the type can play a role in how much you pay for auto insurance too. 

This is key when it comes to digging into the car history reports and finding out more about your options moving forward. 

You will want to look with a purpose to make sure you are going with a dealership that is in tune with what you need. 

You will also want to think about financing if that is the direction you want to go in. 

Ask For A Car History Report

A car history report is great for those who want to learn more about the vehicle and get a read on what the vehicle is all about.

3. Set A Budget

You will want to know how much money you can spend on the vehicle. This is key when it comes to doing things the right way and ensuring you are saving for a vehicle the right way.

You will want to also get a credit report for the vehicle as that is going to help you know whether or not there are credit issues to consider. If you have good credit, you are going to get a fair interest rate on the loan too. This is good for those who are going to be heading into the dealership with this in mind. 

4. Filter Your Choices

You will want to make sure to have a list in mind when it comes to the vehicles that interest you. This is a must and having only three or four vehicles on your list is a good idea.

5. Go For A Test Drive

A test drive is never a bad idea. It will give you insight into how the vehicle drives and whether or not it is in line with how it has been described. Dealerships will always let you do this and some even let potential buyers have an overnight test drive where you get to keep the vehicle for a bit.

You will also want to attempt to take the same route as you do daily. This is good as it will let you test the vehicle in a setting that is familiar to you including the nuances of the road in front of you. 

6. Focus On The Car Expenses 

A mistake some people make is to only think about the original cost. This is not enough as you want to make sure you are also factoring in future costs into the equation. This includes monthly payments that will go for the dream car.

You will want to think about how much the budget is and how much it is going to cost as time goes on.

This includes things such as:

* Fuel Expenses

* Maintenance Costs (Oil Changes, Tire Rotations)

* Car Insurance

* Future Repairs

* Car wrapping

You are going to know car insurance payments are mandatory, so you will always want to incorporate these into the equation. Otherwise, you are going to end up paying too much and that is not good for you as time goes on. You will want to think about how much you will pay for insurance and how it will impact you as time goes on.  

Look to figure out how much insurance is going to cost including potential discounts. This is important information when you are diving into getting car insurance and want to do it the right way.

7. Save For A Vehicle

It is important to have the necessary funds in hand before you begin working on getting a vehicle. This does not mean you need the entire amount, but you should have a decent amount to take care of it once the vehicle is in your possession. 

To do this, you will want to set a budget and then begin to save money as time goes on. This is how you are going to get a fair deal and it will work out as you want it to.