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Learn... Plan... Buy a Vehicle!

Steps to Vehicle Purchase
  Step 1 - Review your budget
  Step 2 - Determine your down payment
  Step 3 - Price your trade-in
  Step 4 - Check loan rates
  Step 5 - Research your vehicle choices
  Step 6 - Check out your vehicle choices
  Step 7 - Get competitive bids
  Step 8 - Prepare for the purchase
Calculators
  "How much vehicle can I afford?" (Wachovia)
  How much will my monthly payments be? (State Farm)
Tools
  "How much will the insurance cost? " (InsWeb)
  "How much will the insurance cost? " (Insurance.com)
  Check current lending rates at Bankrate
  Research your car (Edmunds, MSNAutos, or USAToday)
  For a used car, check its history at CarFax.com
  Visit online lenders at E-Loan and Capital One Finance
Check out your vehicle choices

Before making your final decision, it's imperative that you check out those vehicles that you are interested in. If they are pre-owned vehicles being sold by an individual or by the used car lot on the corner, then you definitely need to visually inspect them, test drive them, check maintenance records, get a CarFax report, etc. If possible, find a friend or relative that is a mechanic, and have them check out the vehicle with you. There is much more risk involved in purchasing these vehicles, especially if you are planning on spending more than a few thousand dollars.

If you are looking at certified pre-owned vehicles from dealerships, and they come with warranties, then the risk is seriously reduced, but they should still be checked out carefully. Follow the same steps outlined above, only in this case ask the dealership to provide the CarFax report.

If you are looking at new cars, you can visit the various vehicle lots and physically check out the cars first before you test drive them. What's most important in this step is to make sure that the vehicle is what you expected. Many times the pictures on the Internet or in a magazine show the best angle to highlight some feature, but don't clearly illustrate all of the vehicle, although many of the Web sites now have 360% views of vehicles. Still, sometimes they don't look quite the same in person. Also, you need to sit in the vehicle and make sure you are comfortable. Is there enough leg and head room, especially in the backseat? How do the seats feel? When you climb in the front seat, are you stepping down into the vehicle or perhaps stepping way up into the cab? Is this what you want to do everyday?

During this process, we don't recommend that you test drive the vehicle yet, since you are still deciding on the type of vehicle you are interested in. However, if and when you do, make sure that you aren't sold on the vehicle because of the navigation system, stereo, engine power, etc. You need to carefully consider all aspects, especially comfort, since you are likely going to spend a great deal of time in your vehicle. Many people like the feel of a sporty car, for example, and even like the thrill of a manual transmission, only to discover later that it was a huge mistake since most days they sit in traffic or realize the vehicle is not comfortable at all during long road trips. Weigh all of the factors carefully in making this most important decision about choosing the right vehicle for the right reasons.

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