How to Buy a New Car

Man Signing Paperwork

 

Ready to buy a new car to enhance your Pottstown commutes? Our team at Springfield Mitsubishi - Reading has plenty of options available. If you’re ready to learn more about buying a new car before you begin the process, you can trust we have the answers to your questions. Learn more about how and when to buy a new car with us, then schedule a test drive to get the full experience in your favorite model.

When to Buy a New Car

Buying a new car is a hefty investment so the best place to start is identifying whether it’s the right time to buy a new car. Here’s how you can figure out if buying a new car is the right option for you:

  1. You constantly find yourself paying for expensive repairs, impacting both your wallet and your time. At some point, you’ll be paying more for repairs in a year than you would for a new car.
  2. You’ve felt unsafe driving your car. Need we say more? The last thing you want is to get in an accident, so if you’ve ever questioned your car’s safety, it’s time to say farewell.
  3. Perhaps you were a bachelor/bachelorette when you first bought your Lancaster car, but now you find yourself married with a baby on the way! You may want to consider upgrading to a small SUV with advanced safety features.
  4. Is your car failing emissions tests? Getting it up to snuff can be costly, and opting for a newer model may save you money in the long run.

How to Find Your Ideal New Car

After you decide to buy a new car, where do you start? First you’ll want to set a budget and make sure you stick to it. If you’re having trouble, our finance team can help you find the right budget plan for you. Once you have that settled, here are the next steps:

  1. Narrow your search. Consider your driving habits, cargo space requirements, and desired technology and safety features, then start searching for models that meet your needs.
  2. Pick your top three models, then research your top choices’ safety ratings, reliability, lifespan, etc. If you have the time, take a test drive in each model to learn how they handle on Allentown streets.
  3. When you’ve decided on a final choice, do a local search to see your dealership options and request price quotes, and be sure to research what other shoppers have paid. 
  4. Take into consideration any big upcoming sale weekends or holidays that might come with really good deals, like Black Friday or Presidents Day.

How to Afford a New Car

You know which model you want, now it’s time to analyze your budget. How much can you afford to spend on a car? According to U.S. News, your car payment should not put your monthly debts–including credit cards, student loans, rent, etc.–over a third of your monthly income. When purchasing a new car, keep in mind that the following costs will be tacked on to the price:

  • New Car Sales Tax: This tax is non-negotiable and is typically added to your car loan amount.
  • Interest Rate: Your car’s interest rate will also impact your monthly payments. If your rate is lower, then your monthly payment will be lower. However, it’s important to note that you only receive a lower interest rate if you qualify, and not all drivers qualify based on their credit score. 
  • Trade-in Value: If you currently own a car, you can trade it in for the new one you want. While most dealers will purchase the car from you and apply that amount to your new car, if you still owe money on your current vehicle, the dealership will tack that remaining cost onto the new vehicle price. Our online value your trade tool can give you an instant appraisal of your current vehicle. 

Discover Your New Car at Springfield Mitsubishi - Reading in Reading!

Ready to get the financing process started? Contact our team at Springfield Mitsubishi - Reading. Our finance team can help you find the right model at the right price.

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