Instead of spending your time walking around a car dealership, you can search for a new car online quickly and easily. You can speak with sales managers, set up financing, and sign paperwork without ever leaving your home. Many dealerships will even deliver the vehicle right to your doorstep. Here are some helpful tips for buying your next car online.
Set A Budget
Before you begin searching, you need to know how much you can spend. You should think about the total cost of the car, taxes, registration, fees, and insurance. You should consider the cost of interest if you choose to finance your purchase, fuel, and maintenance as well. According to U.S. News & World Report, you should keep your car payment below 15% of your take-home pay. Also, look for vehicles that cost less than half of your annual salary.
For example, someone making $60,000 per year should be able to afford a car that costs $30,000. If they make $55,000 or roughly $4583 per month after taxes, they can pay 15% of their income, around $687 per month, in payments. For a car that costs $30,000, they could complete their payments in three or four years depending on interest rates. Fuel, insurance, and maintenance will add about $150 per month to your costs. The exact expenses will vary depending on fuel efficiency, insurance rates, and maintenance requirements.
You can save on interest by making a down payment, and trading in your current ride can help lower your costs as well. However, if you still owe money for a loan on your current car, you’ll need to pay the full balance before you make anything on your trade-in. If you want to keep both cars, make sure you can afford both monthly payments.
Do Your Research
Read some reviews of the cars, trucks, or SUVs you’re interested in, and decide whether you want to prioritize performance, features, cargo and passenger space, or price. Make a list of characteristics that are essential for you and those you would like to have. After you find some models that will fit your needs, check the prices for similar vehicles online. You can look at which features come with each vehicle and take your time to find the best deal.
Take A Test Drive
Image via Flickr by RL GNZLZ
Before you buy a vehicle, make sure you test drive it. It could look great on the website but have less space or maneuverability than you need. You could also decide that you would rather have a different color or more interior options. If you have kids, let them take a ride. They can tell you if the seating seems cramped or if there’s not enough room for them along with their backpacks. If the vehicle has an infotainment system or other features, get the salesperson to help you try them out and make sure they’re easy to use.
Talk Online With Internet Sales Managers
The next step in an online car purchase is to email or chat with a salesperson who can help you schedule a test drive and negotiate the price of the car you want. At Panama City Toyota, you can just click the button in the lower right corner of your screen to chat with a representative. You can also use our Express Store to take advantage of upfront, haggle-free pricing. You can get a trade-in offer for your current vehicle, set up financing, and figure out what your monthly payment will be.
Buy The Vehicle
To apply for financing, you’ll need to submit to a credit check and provide a physical or digital copy of your driver’s license and insurance card. Before you finalize the sale, you can look at a written or digital document with your payments, the interest rate, the term of your loan, taxes, fees, and any other elements of the contract. You can also negotiate online any parts of the deal you’re not satisfied with.
If you choose an extended warranty, remember to read its fine print, too. Make sure you know which components and systems will be covered and what your out-of-pocket expenses will be.
Choosing A Used Car
Buying a used vehicle is a great way to get more features for your money, and it’s almost as easy as purchasing a new vehicle. A used car could have scratches, dents, stains in the interior, or other damage, so you’ll need to examine the vehicle carefully. Look for worn tires or brakes, corrosion, or interior controls that don’t work. If you want a car that’s in excellent condition, look for options with low mileage. You can get a great deal on last year’s edition of your dream car, and it’s likely to look brand new and have most of the same features as the current model.
Use Panama City Toyota’s easy online search tool to find the best new or used car for your needs. You can also click on the Carfax logo to get a detailed history report. This will tell you how many owners the vehicle has had, whether it’s been in an accident, and what problems people have reported to mechanics. You can also find out if the original manufacturer’s warranty still covers the vehicle. To learn about any recalls on the make and model, do an internet search.
Remember to be patient and keep looking if you don’t find a used car that suits you right away. You may need to keep looking for vehicles for a while before you find the right one. Fortunately, you can save time by doing most of your shopping online. For a stress-free, simple buying experience, contact Panama City Toyota. We can help you decide which model is best for you and get a great deal. We’re open from 8:30 a.m. to 7 p.m. on weekdays, and we close at 6 p.m. on Saturdays.
