When you are buying your first dream car 2017 Hyundai Santa-fe or any other it is easy to fall into some common traps. Here are some tips to keep you on the straight and narrow as well as to help you avoid buying beyond your means.
The Right Time to Shop
All car dealers will see a drastic reduction in prices when their new models are about to arrive. You will see amazing savings if you opt for the older model. Keep in mind this car is still brand new. It just is not the most recent model. All car companies usually unveil a brand new model every year. Sometimes the changes are minor, other times they are major. The more exciting the changes the better the deal you are likely to get on the older models. Never pay full price for a car when you can get excellent savings on a brand new car. Always shop during the week as it will be quieter which means you will have the time to look around and ask questions. It will be easier to find a sales person to assist you as well. Shopping at the end of the month is also best as if you find a sales person who has not met their quota (and you will) they will be motivated to get you into that car even if it means a drastic reduction in price or some free upgrades.
One of the most common traps new car buyers fall into is using the dealer to finance their car loan. It is far better to look for a finance company to manage your loan as they will be able to give you a better deal and they will also have far less red tape. In fact there are many companies that will be able to help even if you have bad credit. It can be hard to get a car loan and using a company that specializes in car loans and that will provide credit even when you don’t have any to speak of will help you secure the loan you need.
What you Need
Make sure you consider what you need. Don’t get caught squabbling over a few hundred dollars here and there as this will be barely noticeable in monthly payments. Don’t over extend yourself, but also don’t miss out on options that you will regret once you drive off the lot. Review all of the costs and then ask them to show you what your monthly payments will be for each option. This way you can make an informed decision and not wish you had a new car in less than a year of your first car purchase.
The Right Price
The easiest way to estimate if you can afford your car payment is to multiply your monthly income by 20 percent. You should not be paying anything above that amount. You also have to weigh your other expenses. If you are heavily in debt you really want to be certain you have a manageable car loan so you don’t wind up losing your car.