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Learn How to Buy a New Car

signing paperwork
Need a better car to help you through the Taunton commutes? There are many factors that go into finding and buying the right car for you. Whether you’re a first-time buyer, haven’t bought a car in a while, or had bad car buying experiences in the past, it is good to be aware of your options heading into the dealership. Silko Honda is here to answer all your questions about how and when to buy a new car and any tips you should look out for. We want to take your worries away and have you driving off the lot with a smile on your face!

How Do I Know When to Buy a New Car?

Cars are a hefty, but valuable, investment and it can be difficult to know when to buy a new car vs. continuing on with your current model. Here are some factors to consider:

  1. Frequent expensive repairs make an impact on the wallet and free time. Consider what is being spent on repairs and judge whether buying a new car is the better option.
  2. Does the car respond like it used to? Stop questioning the vehicle’s safety and worrying about accidents and get peace of mind in a new car.
  3. Need a little more space for the growing family? Upgrade to an SUV or minivan with up-to-date safety features and entertainment options.
  4. Is the vehicle failing emissions tests? Eliminate the repair costs and issues in the future by purchasing a newer model.

Finding a New Car

Once you’ve decided it’s time to buy, you’ll need to start thinking about how to buy a new car. By making a budget and sticking to it, you’ll ensure that you’re getting a car that won’t break the bank. The finance center at Silko Honda can walk through budget and payment options. Take these next steps and find the perfect vehicle:

  1. Think of the daily use of the vehicle. Will there be a need for cargo space, enhanced safety features, or premium entertainment options for the whole family? Find the base needs and start searching for models that meet those needs.
  2. Find three top models, and then research safety ratings, reliability, and average lifespan. If possible, take the time to test drive on the streets of Fall River and get a feel for how the vehicle handles.
  3. Search local dealerships for purchasing options and request price quotes. Get an idea of what shoppers in the area have paid recently for that car.
  4. Make note of any big sale weekends or holidays that might provide a good deal (i.e. Black Friday or President’s day).

Once a suitable choice is found, head to the dealer to make it official!

Affording a New Car

Once the right new car is found, it is time to think about the budget and finance options. Car buyers should weigh how much they can afford to spend on a car versus their other debts. U.S. News claims that car payments should not make the budget go over one-third of someone’s monthly income. When purchasing a new car, buyers should also be aware of these additional costs:

  • New Car Sales Tax: This a non-negotiable tax that is typically added to the car loan amount.
  • Interest Rate: Interest rates affect monthly payments. Lower interest rates mean lower payments, however, some drivers may not qualify for lower interest rates because of their credit score. If you’re deciding on when to buy a new car, make sure to check and clean up any credit issues for a chance at a lower interest rate.
  • Trade-in Value: Trade-in the old vehicle for a new one. Dealers will apply the purchase price of the old vehicle to the total of the new one and that will bring down the overall amount due in the end. Get a vehicle appraised through the Silko Honda value your trade tool.

Find Your New Car at Silko Honda!

Once you’ve found the perfect vehicle for you, let our finance department help you with the rest! We have the answers for those looking to build credit or calculate payments. Buying your new car and getting back on the streets of Brockton doesn’t have to be hard. Let Silko Honda help you along the way.

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