What Should I Do Before I Buy A New Car? | Hopkinsville KY | Near Fort Campbell, Madisonville, Russellville & Western Kentucky
What Should I Do Before I Buy A New Car in Hopkinsville, KY?
Are you in the market for a new car? If that’s the case, congrats! There’s a lot you need to know and do before you buy a new car. Lucky for you, your friends at Toyota of Hopkinsville are here to give you a comprehensive list of things you should and shouldn’t do if you’re looking at purchasing a new Toyota in the near future. Of course, you’ve heard the main things of not making any other big purchases if you’re looking to finance, but have you thought about some of the bigger-picture aspects of buying a new car? Read on to learn more about what you should do before you buy a new Toyota from us:
Know Your Needs
Your needs are crucial when deciding on your next vehicle. Knowing your values and how you will use the vehicle make a big difference in what vehicle you might end up with. If cargo space is important to you, then it might not make sense to get a compact sedan. Or, if you’d like better fuel efficiency, then a truck probably shouldn’t be your next vehicle purchase. Where you live might also make a difference in your needs from a vehicle. If you live in a city, you wouldn’t want a huge vehicle you couldn’t parallel park.
Research
Deciding on a brand is the next important step. You can browse manufacturers’ websites to contrast different models of your preferred body type (SUV, crossover, minivan, sedan, coupe, etc). Make a list of must-have features that need to be in your final model as you look through the vehicles. What you might prioritize might look different than what other people want. Many manufacturer websites contain a comparison tool that allows you to compare features between different models. And credible sources like the NHTSA offer insights on the safest vehicles.
Know How Much You Can Afford
Finances can be a disheartening part of the research, but there’s no reason to despair. Making a budget is one of the most important parts of what you should accomplish before you get a new car. Knowing how much you can afford can give you realistic expectations of what you should be looking for.
Our finance center here at Toyota of Hopkinsville has assisted many customers in making decisions about financing, and we’ve found the following guidelines to be the best options. We suggest placing at least 20% down on a new car or 10% down on a used car. Limit your loan term to no more than 60 months, and set your monthly payments at 10% of your monthly income or lower. These numbers may be different based on your credit score and income. When you plan out your budget, remember the extra expenses that will be added at signing (for example, sales tax, registration fees and documentation fees). These fees can add another 10% onto the advertised price of the car. Don’t forget to factor maintenance costs into your monthly budget as well.
Don't Trade A Car That Has Negative Equity
Having negative equity is detrimental when trading in your car to us. Having a car be worth less than the amount owed on it is negative equity. Trading in a vehicle with negative equity means you’ll be paying what you owe on that loan PLUS payments on your new vehicle. Valuing your trade online before you come to see us will ensure that you know what you’re getting into and won’t have the burden of two loans. You can also avoid this by only selling or trading in your vehicle when it’s paid off.
Don't Rush Your Test-Drive
Test driving is arguably the most exciting part of the process of purchasing a car, so take your time and enjoy your experience in every vehicle. It’s a good idea to imagine your daily routine as you sit in the driver’s seat. Would it meet your needs? How comfortable and confident do you feel with the vehicle’s size and handling? It’s crucial to ensure that the driver’s seat fits your frame and won’t cause you any discomfort. When you’re here at Toyota of Hopkinsville, we want you to feel sure that the vehicle you drive home is the correct one. We’re just as excited as you are, so ask us all your questions and we’ll make sure you’re in the perfect car for you and your family.
Interested in purchasing or leasing a new Toyota? Come visit us at Toyota of Hopkinsville at 4395 Fort Campbell Blvd., Hopkinsville, KY 42240. We look forward to serving our customers from Hopkinsville KY and throughout Fort Campbell, Madisonville, Russellville and Western Kentucky.
