How To: Car Buying Process

This post is a part of a sponsored series. 

If you’re a first time car buyer, starting the search for your first purchase, you may be a bit intimidated. It’s a big world of cars and paperwork that is scary for a lot of people! But as a former car saleswoman (yes, can you believe it?) I know the process isn’t as bad as it might seem to be. So let’s take a look at the car buying process, with help from our friendly Maryland Lexus dealer.

First step – Identifying what you’re looking for, and the reason why you’re looking for a new vehicle. If the reason you’re looking for a new ride is because your family is growing, or you need something more reliable, then it’s best to keep those details in mind when considering your new car options.

Beyond knowing what you’re looking for, you may want to decide on your budget, and also whether you’ll be trading in your old vehicle (or selling it yourself). This will help narrow down options and keep your stress level at a minimum by not being bombarded with a large variety of cars.

Next step – Do your research. You will probably want to hop online and do some research on cars that fit your criteria. Check out what make and models you like, what their safety ratings are, customer reviews, and what they typically go for. If your budget is $15,000, you may be able to get a brand new sedan, or a 5 year old SUV with 50,000 miles on it. It makes a difference!

Third step – Test drive some cars! This will probably be the part that makes you the most nervous. Many people don’t like the feeling of walking onto a car lot and being pressured to buy. Don’t feel that this is the case! A good salesman will understand your process and give you time and space to make your own decisions, all the while helping and answering questions along the way. Test driving cars is a key factor to ruling out vehicles you don’t like, you can tell a lot about a vehicle just by getting behind the wheel.

Fourth step – Once you’ve found a vehicle you’d like to purchase, it’s time to talk numbers. You’ll sit down with your salesman (or saleswoman) and see what kind of price you can get on the car. There’s MSRP (or suggested retail price) and then they may be able to give you a better deal. Once you’ve agreed on a price that works for everyone, you’ll write up a contract for the vehicle.

Last step – When the contract is in place, you’ll sit down with the Finance department and work over payment details. Whether you are financing the vehicle through the dealership (then you will go over different banks and rates) or paying cash. This will be the final stages of your purchase process. You’ll also go over whether or not you’d like to purchase an extended warranty to cover anything that the factory warranty doesn’t cover.

From there, you’ll most likely be able to take the car home (with a 21-day permit, here in Minnesota) and have the joy of driving your new ride! As you can see, the process is nothing to be intimidated by. It’s all about doing your research and knowing what you like and is best for you!