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Getting a new car is an exciting time. It can indicate a new chapter in your life. Maybe you just graduated from high school or college. You could have just gotten your first real job or a big promotion. Some newly married couples start out their tenure with a new car. Perhaps you are expecting your first child or your fourth child.

No matter what has led you to get a new car, there are a few important things that you have to consider. You have to think about what you can afford to spend, what type of transportation you need at this juncture in your life, and so much more. Consider the following as you get a new car:

1. Your Budget

Your budget is an important part of getting a new car. You don’t want to spend too much, but you still want to make sure that you are getting a quality vehicle. Experts suggest that you should put down at least 20% of the sticker price, finance the vehicle for no longer than four years and keep the monthly expenses under 10% of your gross income. This is known as the 20-4-10 rule.

2. Type of Transportation

You also have to think about what type of vehicle you need at this point in your life. Do you need a minivan or would a compact car be smarter? Are you looking for something that has towing capabilities or would you rather have outstanding gas mileage?

3. Extra Expenses

You may not always think about the extra expenses that come with buying a car. Certain states have sales tax and other onetime fees. You will likely have to pay to register the vehicle as well.

4. Car Loans

Many dealerships offer financing, but you likely won’t find the best rate there. You should consider getting pre-approved for a car loan before you even start shopping. This will ensure you get a good rate, and it will help you better figure out what your budget should be.

5. Car Insurance

You should also think about what auto insurance in Charlotte you would need. Insurance can depend on where you live, what car you drive, how new it is, and other factors. That’s why thinking about car insurance is a good idea when you are going out to find a new car.

6. The Name on the Title

Also, think about what name you’re going to put on the title. If you’re a newlywed, do you want both your name and your spouse’s name on it? If you’re in high school, do you want your parents to co-sign? This is a simple thing, but still something to think about.

Think About the Nitty-Gritty

If you think about all of the small stuff before you actually go out and get a new car, you will be better prepared. This will allow you to enjoy getting a new car. You’ll know what you’re looking for, what you can spend, and the extra fees at the end won’t shock you. When you set out to get a new car, you have to think about the nitty-gritty.

Getting a new car can be a monumental point in your life. Make sure you put enough thought into it, so you can be happy with your purchase for years to come.