Your research is done, you've checked your credit report, secured your financing and are ready to
buy a car. So, what do you need to take with you to the dealer to make sure your
purchase goes as smoothly as possible?
This handy checklist will ensure you are prepared for your
new car buying
transaction before you walk onto the car dealer's lot.
- Driver's license
Many a car buying transaction is delayed because the potential buyer forgot to take his license.
You will need your license to drive the vehicle and as proof of your identity.
- Check or cash
If your purchase requires a down payment, or if you are paying cash for your car, you will need
means to pay for it. Make sure to take your checkbook with you.
- Proof of financing
If you have arranged financing for your car purchase, you will need either a check from the loan
company or proof of your financing. Even if the dealer offers you better financing, your
pre-arranged loan will give you a basis of comparison and something to use to negotiate better
terms.
- Pricing information
Take the emails you received when you negotiated your vehicle price by email ahead of time. Settling
on a price by phone or email is the best way to save time and to negotiate from a position of
strength. If you are unable to do that, make sure to take all the notes you made when you were doing
your pricing research.
- Insurance
You need auto insurance as soon as you drive your car off of the lot. Since
car insurance rates and policies vary dramatically, it is important to do your
research ahead of time. Confirm with your agent that your policy will cover the car as soon as you
buy it. Avoid buying interim insurance through the dealership, since it is usually unnecessary and
costly. Online insurance companies such as 21st Century Auto, ComparisonMarket.com and
ElectricInsurance.com can help you get quotes and compare rates quickly and easily. If you are
financing your car, the lender will require that you have full insurance on the car; liability
insurance is not sufficient.
- Your trade-in
If you plan to trade-in your existing car, make sure you drive it to the dealer. Before you take it,
get it in the best possible shape by cleaning it out and making any inexpensive fixes. Wash your car
and clean your personal belongings out of the glove box, trunk and other storage compartments. Take
your research on the trade-in value for your car so you know if you are being offered a fair deal.
Always negotiate your car purchase deal before you discuss your trade-in so you know how much you
are truly being offered for your car. If multiple dealers have new cars you are interested in, your
final purchase decision may come down to whoever offers the most for your trade.
