Integrated Family Community Services 3370 South Irving Street, Englewood, CO 80110-1816 Ph: 303-789-0501

How A Family Can Make Their Car Dreams Come True

how-a-family-can-make-their-car-dreams-come-trueBuying your next vehicle is a major event, and it is one that can affect everything from your budget to your family’s comfort and convenience level in the years to come. While you should thoroughly research the options to find the right make and model for your needs, you also need to make this purchase as affordable as possible for your budget. Your car buying dreams can come true when you follow a few helpful tips.

Get Your Trade-In Fixed Up Before You Sell It

It’s a good start to go to a dealership, like Young Automotive Group, to get your car inspected thoroughly from bumper to bumper. A key part of your down payment may come from your trade-in value, and you can maximize the value of your trade-in when you get your car fixed up before you sell it. In some cases, such as if a trade-in is very old and needs significant repair work, it may actually be more cost-effective to sell the car as-is. With this in mind, talk to your mechanic about the options before you make any repairs.

Sell Your Current Vehicle on Your Own

There are two main ways to get rid of your current car, and these are to sell the car on your own or to trade it in at the dealership. Trading your car in seems like the most convenient route, but it also can cost you money. This is because the dealership will factor in their own fees to do a make-ready on the car, to market it and to sell it when they are making their offer to you. You could potentially obtain a significantly larger amount of money when you sell the vehicle on your own.

Save Up Money for a Down Payment

The affordability of a new car lies largely in how affordable the monthly payments are for you to manage. Because of this, you may consider saving up at least a few thousand dollars to use as a down payment before you make your purchase. You can use an online car loan payment calculator to determine the ideal amount of your down payment.

Buy a Gently Used Car

A final tip to consider is to buy a gently used car. Ideally, this will be a certified used car that still has some remaining warranty period left on it. A used car may have the same design as the current model year available, but it may be available to you at a fraction of the cost.

Buying another car is a major event in your life, and it is not one to take lightly. By following these steps, you will be better prepared to make your purchase.

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Integrated Family Community Services is a 501(c)(3) non-profit organization.

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IFCS’ Tax ID # 84-0579740