Are you thinking about buying a car this year? If so, you’re not alone. With consumer confidence on the rise, sales of both new and used cars have increased over the past few years. And today more than ever, there is plenty of information available online to help you research and plan your purchase — so much information it may seem overwhelming.
BUYING A CAR REMAINS ONE OF THE BIGGEST INVESTMENTS WE MAKE
Today the average cost of a new car is around $36,000. And the average used car price tag is more than $18,000! This doesn’t include the cost of insuring, maintaining and repairing your vehicle, which AAA estimates at just under $9,000 annually on average. But — like any investment — there are simple steps you can take to invest your money wisely.
If you’re wondering how much car you can afford, financial experts suggest a rule of 20/4/10. That means you should plan to make a down payment of at least 20 percent of the purchase price, average financing of four years, and a make a monthly payment of no more than 10 percent of your monthly income. Advia offers easy-to-use online auto loan calculators for you to consider different purchase scenarios while you look.
SELECT A MAKE AND MODEL TO FIT YOUR NEEDS
Now that you have a price range in mind, you can choose the make and model of car that best fits your lifestyle. There are many online resources and more apps cropping up every day. Among the most trusted resources are Edmunds, Kelley Blue Book and NADA (National Auto Dealers Association). Within these sites, you’ll find pricing information as well as repair histories, average gas mileage, reliability and maintenance ratings, and the opinions of other consumers.
Ready to shop? Look for the Advia Dealer Partner sign when you enter the dealer’s showroom. Advia works with numerous local auto dealers to ensure a seamless buying experience. These are partners we know and trust to provide the same financial advantages that Advia members have come to expect. After you’ve selected the make and model of car you’d like to purchase, picked out a color, ordered the options that suit your lifestyle, and negotiated a price, these dealers will manage all the paperwork required to finance your car through Advia. You’re assured of a great low rate, and the process is hassle free.
THE ADVIA ADVANTAGE OF A PRE-QUALIFIED AUTO LOAN
If you are still building your credit history, you may need to consider having someone co-sign for your loan. An Advia loan specialist can answer questions specific to your credit and financial standing, and can even pre-qualify you for an Advia loan. A pre-qualified loan is like shopping with cash-in-hand. You can negotiate with confidence, knowing there will be no surprises when it comes to financing.