5 Things to Consider When Car Shopping

Dreaming of that new car smell? Tell us more!

Few things are better than driving away in the ride you've had your eye on for months. Before you get swept away with the idea of cruising around carefree in your new ride, keep reading ...

1. Wants vs. Needs - We all love an upgrade. Ask yourself though, is now the right time for yours? Do you need a new vehicle for reliable transportation, or do you just want something fresh? There are advantages to hanging on to a car that is already paid off a little longer if it's still getting you from point A to point B safely.
2. New vs. Used - Going back to that new car smell, it really is intoxicating but it usually comes with a much higher price tag than even the same vehicle that has been gently used. Consider whether a new car or just a new-to-you car will best suit your needs and your budget. And don't forget things like fuel efficiency and car insurance costs, which will also impact your monthly budget moving forward.
3. Financing Options - Once you decide on a vehicle, shopping around for financing is a smart next step. Not only will it help you keep your monthly payments more affordable, planning can also help you get in and out of a dealership more quickly if your financing is already pre-approved. Abound's team is always here to help and can walk you through your options so you can pick the best loan term for you.
4. Price Variances - Whether you are buying a new or a used vehicle, comparison shopping and using online resources to determine the fair market value can help you ensure you're paying a fair price overall. Price negotiations are simpler when you're an informed consumer and have an idea of what you're willing to pay that is in line with what the vehicle is worth.
5. Choosing Add-Ons - While saying yes to all the optional add-ons can add-up, there are a few you want to consider such as GAP (Guaranteed Asset Protection) Insurance, which will cover the difference between what your car is worth and what you owe if it is totaled. Mechanical breakdown insurance may also be worth considernig, especially if you're purchasing a used vehicle.

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