Family with new car

Buying a new car is a lot of to consider... and a bit of a game! Make sure this big purchase is less of gamble by following the steps below (NerdWallet)

1. Set your budget. Decide how much you can spend, what your monthly payment should be, and how you will finance your new car.

2. Choose the right car. Narrow the field and choose the model that best serves your needs.

3. Check reliability and ownership costs. Choose a reliable car that is inexpensive to own, even if it costs a bit more to buy.

4. Test-drive the car. Test-drive your top choices to see which car is right for you.

5. Locate your car. Cast a wide net by searching dealership inventories online.

6. Find the right price. Use pricing guides to see what other people are paying for the car you like. The internet has added a lot more transparency to the value of a car, new or used. Use sites like Kelly Blue Book to get the best idea of a fair price to offer in negotiations.

7. Get dealer quotes. Contact several dealerships and ask for the best price. When at the dealership, be prepared to set aside your afternoon for negotiations and sealing the deal... it's a process!

8. Maximize trade-in value. If you trade in your old car, figure out how to get the most for it.

9. Seal the deal. Review the contract and sign documents.

10. Finish up with the proper documentation. You may think once you drive the vehicle off the car dealer's lot that you are done, but make sure you factor in tag, tax, title, and insurance into your budget when consider your options. The prices of these will vary according to your state and even region, so check with your local insurance provider and DMV. In the state of Oklahoma, however, rates on tax of your new vehicle will be 4.5% of your purchase price. Auto insurance is required by all drivers in the state of Oklahoma.

If you are financing your vehicle, your financier will require full coverage auto insurance on your new car. In fact, it is even wiser to keep full coverage insurance on your new vehicle until it declines in value over at least a few years. You don't want to pay full price for a vehicle, drive it off the lot, get in an accident, and have to pay for it (plus any harm caused to others) all over again.

The Synergy Insurance agents of Oklahoma will walk you through the process of buying a new car, receiving the proper auto insurance, and what you need to do to be protected, every mile of the way. 

With these steps, you should be ready to buy your new car. Happy car buying!

Posted 11:44 AM

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