Life Kit: Money
How to buy a car with confidence
Jul 17, 2023
Learn how to avoid pitfalls when buying a car, such as dealership manipulation and long-term loans. Get pre-approved for a loan, test drive the car, and negotiate the best deal. Consider buying used or electric vehicles and avoid add-ons from the dealership.
24:24
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Quick takeaways
- Getting pre-approved for a loan from a bank or credit union helps you resist higher interest rates offered by dealerships.
- Test driving the car before buying allows you to make an informed decision and avoid surprises after the purchase.
Deep dives
Get pre-approved for a loan before visiting a dealership
Before setting foot on a dealer's lot, it's crucial to get pre-approved for a loan from a bank or credit union. This step allows you to know your budget and the interest rate you qualify for, enabling you to resist the dealership's attempts to sell you a higher interest rate loan.
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