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Buying car

From make and model to MPG, there is a lot to consider when purchasing a vehicle. Before heading to the dealership, walk in prepared with our list of the five best tips for you to follow, whether you’re buying new or used!

  • Do your research: Whether you’ve purchased a vehicle in the past or are a first-time car buyer, find out what the current market price is for the vehicle you want.  In addition, examine the ratings and reviews others have written about the vehicle. Kelley Blue Book and Consumer Reports are filled with information from people who actually own the vehicle, and show both good and bad remarks. Tip: Factor in gas mileage with Fuel Economy’s website. While this is not an initial cost, it is sure to add up in the long run.
  • Set a budget: This can be hard to do. While the vehicle you want may be out of your price range, it’s important to stick to your budget.  If you are concerned about your budget, consider the option of leasing rather than actually purchasing a vehicle. Tip: Do your research and set your budget before walking into a dealership!
  • Choose a model or type of car: With the budget you set for yourself, start looking into vehicles that work within your budget. This may mean you have to determine if you can afford a new car or if you should shop used. Also, when you are choosing your vehicle you need to think about your lifestyle and your future. Planning on starting a family?  A new sports car may be your dream, but not practical in reality.
  • Be ready to negotiate: Buying a vehicle can take time. Stay true to what you want and shop around. If you are not familiar with car-buying, pricing, or just do not like to negotiate in general, take a friend or family member who has been through the process before. This way you have someone who is not as invested in the outcome as you are and can have an outside perspective on the purchase.
  • Take your time: While this may not be 100% realistic if you are in a rush to purchase a vehicle, you should take as much time as you need to make a decision. Do not be pressured into buying a vehicle.  Ask questions and make sure all your questions are answered.

Whether you need additional funds to purchase the car of your dreams or to make much needed car repairs, Mariner Finance can help with all your auto needs! We make loans for numerous reasons, and will work with you to find a solution that best fits your budget and needs. Simply click here to apply today.

This material was prepared for general distribution. Although all blog posts are intended to be accurate, the information and third-party links provided in the Personal Finance Company’s blog are intended for general knowledge and educational purposes only without any warranties, implied or express, of any kind. The posts do not constitute investment, financial or other advice. Authors may or may not be licensed financial professionals; for specific advice, seek the input of a licensed and trained financial expert. Personal Finance Company’s blog entries may also be viewed at www.marinerfinance.com.

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Personal Finance Company, LLC, NMLS No. 123861 (www.nmlsconsumeraccess.com).
8211 Town Center Drive, Nottingham, MD 21236. Telephone Number 877-310-2373.

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Personal loans offered by Personal Finance Company, LLC are not available in all states. Loan terms are not guaranteed, and APR’s and terms vary based upon state laws and regulations but the APR will not exceed 35.99%. Various factors are taken into consideration when determining loan eligibility, which include, but are not limited to, credit history, loan amount, loan term, income, and debt. Loan closing is contingent upon submission of all required documentation and agreement to all terms and conditions of the loan agreement.

As an example, with an amount financed of $5,000.00 the borrower receives $5,000.00 at an APR of 29.63% and an interest rate of 28.94% which includes a finance charge of $3590.56. Under these terms, the borrower would make 48 monthly payments of $178.97, for a total of payments of $8,590.56. The amount financed may not be the net proceeds paid if charges other than interest are included in the loan.

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