Maybe you’re looking for your first car or maybe you’re looking for your next car. In either case there are common pitfalls you can avoid when shopping. Purchasing a vehicle can be a fun albeit dizzying experience because there are many factors to consider, so make sure you’re prepared by following these simple guidelines.
Test drive several cars on one day and keep a checklist.
It’s best to have the memory of each vehicle you test drive fresh on your mind, which is why it’s recommended that car shoppers test drive many vehicles on the same day rather than weeks apart. Also make sure you take notes and judge each vehicle in the same categories. It’s a good idea to start with a checklist of aspects that are important to you - space, fuel economy, comfort, performance, towing ability (you can request or research specs for this), safety features and so on - then rate each vehicle in those categories. Also take notes about pros or cons, things you like and don’t like, etc.
Don’t fall for looks alone.
Choose a vehicle that’ll work for you day in and day out, something that can accommodate your stuff (gym bag, photography equipment, stroller) and passengers you’ll regularly travel with, or a car with great fuel economy if you often travel long distances.
Make sure you know how much you can actually afford.
Setting a realistic budget is critical and this includes not only knowing how much you have to spend monthly, but also how much you have to put down, which leads us to the next point: It’s best to get a quote on your trade-in so that you know exactly how much you have to pay upfront for your next vehicle. You can also get prequalified for financing using our confidential online form to determine what type of interest rates you qualify for and if you’re eligible for any Toyota incentives.
Get insurance quotes before making your purchase.
Request quotes on car insurance for the vehicles you’re considering to see which have the lowest rates, which could factor into your buying decision. If you want to pay less over time, you may wish to select a vehicle with lower insurance costs. You may also wish to select a pre-owned vehicle that doesn’t require comprehensive insurance, which is more expensive than liability insurance.
Utilize reputable buying guides.
If safety is important to you, make sure your vehicle is an IIHS Top Safety Pick, which means it received superior scores in crash tests; several 2015 Toyota models hold the TSP (and in some cases TSP+) title, including Prius, Camry, Avalon, RAV4, Highlander and several others. If you want a reliable car, check out the J.D. Power Initial Quality Study to see which models have the best reported quality according to owners. In the 2015 J.D. Power Initial Quality Study, Toyota ranked among the top brands, with three models that took top place in their classes, the Tacoma, Sequoia and Lexus LS, as well as others that placed in the top three of their respective segments, the Camry and Corolla. There are also several other award guides that rank vehicles based on quality, retained value, price and other factors.
Do not just focus on how much you want to pay a month.
Instead, think about your long-term costs. You can pay $300 a month on cars that are vastly different in total price; for example, one could be around $20K while another might be around $30K. If you’re only concerned with your monthly payments, you may end up spending more in the long run, so always consider how much you want to pay total and how long you want your loan term to be.
