Steps to Purchase a New Car (Edmunds)

What is the first step in purchasing a new car?

• Research vehicles and features

• Get preapproved for a loan

• Plan your trade-in

• Locate and test-drive the car

What is the recommended loan term for a car purchase according to Edmunds?

• 24 months or 2 years

• 36 months or 3 years

• 48 months or 4 years

• 60 months or 5 years

What is the recommended loan term for a car purchase according to Mrs. Donahue?

• 24 months or 2 years

• 36 months or 3 years

• 48 months or 4 years

• 60 months or 5 years

What is the purpose of getting preapproved for a loan?

• To determine the interest rate at the dealership

• To compare loan terms from different lenders

• To negotiate a lower purchase price

• To estimate the trade-in value of your current car

How can you determine the trade-in value of your current car?

• Use the Edmunds appraisal tool

• Ask the dealership for an estimate

• Check the Kelley Blue Book

• Sell the car yourself and see how much you get

What is the recommended approach when test-driving a car?

• Just drive around the block

• Check the controls.

• Bring a child seat and test it

• Buy the car the same day

How can you get the best price for a new car?

• Call multiple dealerships and compare quotes

• Buy directly from the automaker's website

• Negotiate with the salesperson at the dealership

• Pay the full asking price without negotiation

What is the purpose of a home delivery option for car purchase?

• To save time and complete the deal in a relaxed environment

• To avoid dealing with the dealership's finance and insurance office

• To receive the car during a slow time at the dealership

• To negotiate a lower price for the car

What should you do after taking delivery of your new car?

• Read the owner's manual thoroughly

• Check for any dents or scratches on the car

• Schedule a follow-up appointment with the salesperson

• Return the car if you're not satisfied

What is the final step in purchasing a new car?

• Research vehicles and features

• Get preapproved for a loan

• Plan your trade-in

• Enjoy your new car