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130 years Celebrating Together

New Year, New Car: What you should know before and during the purchase

Ahh, new car smell —there’s nothing like it!

I bet you’re smiling, thinking about your first road trip, sparing no effort to keep it clean, or looking for all the gadgets you want it to have. 

Buying your first car is an exciting and unforgettable experience, but it’s a decision that requires research. It can also be a challenge if you’re not prepared. It’s good to know certain things in advance, from how to prepare your finances to how to navigate conversations with the dealer.

Keep reading this guide and you’ll be ready for the purchase.

What you need to know before buying your first car

Being prepared is the key to a successful purchase. Before taking a test drive, ask yourself:

  • What type of vehicle will meet my needs?
  • What is my budget?
  • If I already have a car, do I sell it on my own or trade it in at the dealership?
  • Do I want a new or used car? What do I do now? Where do I start?

With this in mind, let’s begin with some basic steps that will serve as a guide.

Assess your financial situation

  • Review and define your budget: Define how much you’re willing or able to pay. In addition to the monthly payment, remember to account for gasoline, maintenance, insurance, tolls, and the registration sticker, among other aspects.
  • Check your credit score: Your credit plays an important role in determining whether you get the loan you need and at what interest rate. If you think your credit has room for improvement, check out these tips to improve it.

Platea x Popular Tip: Use this Popular Auto calculator to see approximately how much you’d pay according to your credit score.

Research before you buy

  • If you have a car and want to trade it in: Research its current cost and validate the amount you owe.

Let’s review what a trade-in is: When you go to buy a new car, you bring your current vehicle so the dealer can make an offer on it.

  • Compare brands, models, and prices: Take advantage of our digital platform to explore inventory at more than 60 dealers and compare brands, models (new and used), prices, and offers. It will make your research easier.
  • Evaluate key features: Safety, fuel efficiency, technology, and lifestyle are essential specifications that will help you make an informed decision —and at PopularAutoPR.com you can compare these and more features.
  • Explore offers: Visit the offers section to discover special promotions available at Popular Auto on a variety of vehicles and brands.
  • Move with Popular Auto: You can speed up the purchase process by contacting the dealer of your choice directly through PopularAutoPR.com so you can schedule a visit, find your future car or start your credit application, 100% online.

Platea x Popular Tip: Visit popular.com/auto to get information on car financing and review which Popular Auto option is best for you. 

To the dealer you go!

The goal is to get the car that fits your lifestyle. The good thing is that talking to a sales executive can shed light on the best alternatives for you.

Here are some tips to help you while negotiating:

  1. Prepare your list: Go to the dealership informed with the details of the vehicle you’re looking for, from price to specifications and accessories.
  2. Bring all necessary documentation: Your Social Security number, income information, current employer’s phone number (if you have been at your job for less than 6 months, you’ll need your previous employer’s name and phone number), and a utility bill.
  3. Incentives?: Ask and you shall receive, as the saying goes. Many dealers offer discounts or have vehicles with rebates or seasonal promotions. In addition, you can visit the Online Deals section at PopularAutoPR.com to find out about special promotions.
  4. Be clear regarding your budget: When the time comes to talk about the cost of a vehicle, clearly define how much you are willing or able to pay.
  5. Negotiate extras: Consider aspects such as extended warranties, accessories, additional maintenance, and whether they have a service center. 
  6. Understand and discuss loan terms: Explore your financing options at popular.com/auto or call us at 787-294-2568.

 

Ready drive off in your new car

Buying your first car is an important step and having the necessary knowledge will help you enjoy the process. Therefore:

  • Do your research
  • Review and determine your budget
  • Take advantage of available tools, such as those at PopularAutoPR.com, to get the best deal for you. They will allow you to:
    • Compare and choose from an ample inventory (new and used cars)
    • Contact the dealer and schedule a test drive
    • Calculate your estimated possible monthly payment
    • Apply for financing online

We wish you a successful purchase. Enjoy and create good memories in your new car!