How to Shop for a New Car Online

The car-buying process is an age-old tradition that many young people look forward to. It's almost a rite of passage for many to get their first car. Now, whether you are looking for your first or you're a seasoned pro at the process, you can skip the dealer and buy new car online. Your new vehicle is waiting for you, and you can buy it from your couch.

Steps to Buying Your New Car Online

As with the traditional car-buying process, there are steps you need to take to ensure a smooth transaction.

1. Set a budget. The first step in any successful car-buying process is setting your budget. You want to enjoy your vehicle without stressing over how the payments fit into your monthly bills. Before you start your online search, take a firm look at your bills and figure out a price point that is comfortable for you. Remember to factor in the interest on the car as well as the price of the title, registration, and new plates. If you are trying to figure out a good price point, you can use online tools like the one from U.S. News to figure out your budget.
2. Are you going for a pre-approved loan? Now is the time to start applying for one. You have the option of paying for the vehicle outright, but if you are going for a loan, apply for it before you do your research. Getting the financial side squared away early gives you a firm set of guidelines for your search.
3. Start your research. This is going to be a lengthy process, so make sure you give yourself plenty of time. You can look at a variety of local dealerships, manufacturer websites, or different online platforms. Take notes on what you like and then make a shortlist to work from until you find your new car.
4. Take your research offline. Yes, you can still make the transaction online, but do some in-person research as well. Getting to look at and explore the cars on your shortlist gives you a feel for which one is right for you.
5. Make a virtual visit to the sales manager's office. As you continue your research, e-mail or do an online chat with your local dealer's internet sales team. Before you enter this meeting, make sure you have any questions or price concerns handy. Approach it the same way you would an in-person meeting with an open mind and an open notebook.
6. Narrow the list down. Once you talk to the sales team, narrow your initial list down to something workable. If you have one model left on the list, visit several dealer sites. Play them against each other to see who can and will give you the best deal. Contact the internet sales team again and ask if they offer any special discounts for teachers, students, active or retired military, or first responders that may influence your decision.
7. Determine whether you want to take your potential new ride for a test drive.
8. Trade in your existing vehicle. Only take this step once you have committed to a new car. According to CARFAX, you can visit the dealer you plan to work with online for the trade-in. Take the information they give you home and use it as part of your price negotiations. If you are working with a third-party platform such as Carvana, research their trade-in policy beforehand.
9. Negotiations. Once you finally have the ideal car in mind, it's time to start the negotiation process. Yes, you can still do this online. Before approaching the final deal, check the vehicle's book value on a site like Kelley Blue Book. Make sure you understand everything involved in the price. Ask the dealer for a full price quote. Do not rush through reading over it; make sure you know everything that it includes so you can negotiate a price that works for both parties.
10. The last step to any online deal is getting your keys. If you worked with a local dealership, you can go to their lot and pick up your key. If you work with an online platform, you may have the car delivered right to your house or job. This is also the point where you sign all of the final paperwork to make the vehicle legally yours.

Financing Options for Online Car Buying

Financing your new car is an essential step, whether you buy it online or in person.

• Check with your bank as well as several lenders. Make sure you compare terms, rates, and the amount they'll let you borrow.
• Check with the dealer to see if they can beat the prices outside parties give you.

Test Drive Options for Buying a Car Online

Scheduling a test drive of your potential car is a bit tricky but doable for online sales. There are a few different approaches you can take to this step in the process.

• Schedule a test drive with a local dealership.
• If your online platform does not offer test drives, contact a local dealer with the same vehicle in stock and test that one.
• Take advantage of test drive programs that let you bring the vehicle home for a specific amount of time, like the Cadillac 24-Hour Test Drive.
• You can also consider renting the car you are thinking of buying.

Options for Buying Cars Online

Unlike traditional dealerships that only have a few locations in a town, there are several options for online car buying.

• You can visit dealer sites in your town as well as neighboring locations.
• Visit online platforms such as Craigslist.

Advantages of Buying Online

There are several advantages to buying a car online instead of in person.

• You can focus better.
• You can shop at any time of day or night.
• Take things at your pace instead of feeling pressure from salespeople.
• Eliminate the stress of face-to-face negotiations.

Whether you go online for convenience or a better selection, make sure you give yourself plenty of time to complete this important business transaction. This is your next significant investment, treat it the same way you would in person.

Sources:

https://cars.usnews.com/cars-trucks/car-loans-and-leasing/car-affordability-calculator

https://www.carfax.com/blog/trading-in-a-car

https://www.carvana.com/sellyourcar

https://www.caranddriver.com/news/a29831248/americans-not-researching-auto-loans/

https://www.caranddriver.com/shopping-advice/a15105213/how-to-test-drive-a-car-shopping-advice/

https://www.cadillac.com/request-test-drive/24-hour-test-drive

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How to Shop for a New Car Online

Source: https://www.caranddriver.com/research/a31868439/buy-new-car-online/

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