If you’re in need of a new car because your current one has either broke down or it’s just time for a new one, there are some things that you should know before you go out and hand over your hard earned money.  It’s also important to remember that you should never buy a car if you’re in debt.  Instead, try and get by as long as possible with the current vehicle you have.  If you’re forced to get a car while in debt, I would recommend you look into spending only $5,000 tops.

Don’t trade in your car

If you have a car right now and it’s in bad condition, you’ll want to sell it as a private seller rather than trade it in at a dealership because you’re not going to get as much there.  Remember that the dealer needs to turn around and sell it to make a profit.

You need to go simple

Whether you’re going to buy new or used, make sure that you get a simple car.  You don’t need to buy a car with a sunroof, GPS and all those fancy gadgets.  Instead, look at a car with the simple necessities to get you by.  The more basic the car is, the less you’re going to pay.

Consider a car with great MPG

Once you get a car, the bills will continue to come in and that includes gas.  Obviously, we are going to need gas to run our cars.  The goal here is to find a car that is fuel efficient so that you don’t find yourself at the gas station every other day.

Do your research on the cars

Whether you buy new or used, make sure that you look around at the cars on the market.  You want to make sure that you’re finding a car that fits your needs.  I would make sure that you go out and check out at least three different cars to get a feel for them.  Mark down the prices for your own personal notes and go from there.

Always go for a lower price

Whether you buy used or new, never just settle for the listing price.  Instead, go for a lower price and see what they say.  Even if you offer $500 off the price, most of the times the seller will budge especially if they aren’t getting offers, etc.  The lesson learned here is to make sure you negotiate.

A car is generally going to be your second biggest purchase behind your house.  Make sure that you do your homework and find a car that suits your needs.  If you’re in debt, like I said above, I would look into a used car.  Use websites like AutoTrader.com and your local classifieds to find a good deal.  Once you find that deal, treat your car with respect and let’s hope it lasts for the years to come.