Life Kit How to buy a car with confidence
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Jul 17, 2023 
Chris Arnold, NPR correspondent known for making finance engaging, shares his expertise on confidently buying a car. He outlines essential steps like getting loan pre-approval and understanding your needs. The importance of test driving is highlighted, revealing how real experiences surpass online research. Arnold also provides strategies for navigating dealership interactions and negotiating effectively. Listeners gain insight into avoiding financial pitfalls, like long-term loans, ensuring they drive off with a smart deal.
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Pre-Approval Power
- Get pre-approved for a loan before car shopping.
- This determines your budget and strengthens your negotiating position.
Test Drive First
- Test drive cars you're interested in before committing.
- This helps discover your preferences and avoid surprises.
Seven-Year Loan Warning
- Avoid seven-year car loans.
- These loans lead to rapid depreciation and being "underwater."