Buying a Car: What You Need to Know to Get the Best Deal!

Learn how you can find a great deal on a reliable car that you love! Car Buying Guide For many families, car payments are a part of their finances and a big chunk of their budget.  Average monthly payments for new vehicles are $530 for new vehicles and for used cars, it's around $381. It doesn't have to be that way though.  When we switched over to buying our cars with cash, it really freed up so many options. Besides having more flexibility with our money on a monthly basis, we also found that we tended to save a significant amount on the total purchase price with our cars.  Getting to that point takes a mindset shift and a system. It's not overnight, but you can set things up where you're moving in that direction.  And when you keep your car costs affordable you can then redirect your hard earn money towards other goals that matter to you.  I want to help you out with that today.  One of our goals for 2020 was to get a replacement car for my husband Rob. He uses it for his commute. While the Maxima had been a fantastic vehicle for many years, it was becoming obvious that we needed something else.  Originally we were looking at hunting around this summer once we had taken care of the kitchen renovation project. Long story short, we found ourselves last month scouring online and at dealerships for his car.  We found a great one that we love that was well within our budget. I'm going to take you through our process for finding it and buying it outright – which I recommend for sure, but I know that we're all at different parts of our journey so you may want to look at financing part of your purchase. How can you make sure that you're getting the best deal on not only the car but your rate?  Bob Sherwin is here on the show today to answer those questions. He's the indirect auto underwriting department at Coastal Credit Union so he's the perfect person to walk us through the process.  In this episode we're getting into: finding a reliable car that going to last Preparing to save up as well as how to best prepare if you're financing the purchase Negotiating the best deal – you have more power at the dealership than you think Sounds good? Let's get started! Essential Resources for Buying a Car If you two are thinking about buying a car soon, here are some handy resources to help you get the best deal on them! Best Budget and Money Apps: Personal Capital, Tiller, Mint Grow Your Stash Faster: High Yield Savings with CiT Bank AutoSmart by Coastal How to Raise Your Credit Scores Jumpstart Your Marriage and Your Money 5 Days to $5K Course Buying a Car with Cash- Crazy or Crazy Smart? How to Get the Best Deal on Your Next Car The 3 Biggest Myths About Credit Scores That Can Ruin Your Finances Thank You to Our Sponsor Coastal! Support for this podcast comes from Coastal Credit Union! If you're living in the Raleigh Durham area and looking to bank better, come check out Coastal today. If you are hunting for a car loan, take a minute to review competitive rates and deals Coastal is offering now to make buying a car easier! Support the Podcast! Thank you so much for listening to the podcast! Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share. Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple! Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together! Music Credit Like the music in this episode? Music by Lee Rosevere and Audiio.