Getting a new car - or even a new to you car - is a big deal!
Whether your old clunker is giving out or you’re just ready to upgrade, we’re here to give you a cheat sheet guide for what the car buying process looks like.
Before shopping for a new car, you’ll go to the bank and see your favorite lender. They are going to ask you to fill out an application, give verification of your income, and they will want to know how much money you have for a down payment. Once that signed application is in their hand, the ball is rolling and your lender gets to work. Your loan officer will calculate your debt to income to find out how much of a monthly payment you can afford. After they know that, you’re given a budget to shop!
After going to dealership after dealership and scanning online listings, you’ve finally found the perfect car. Before you call your loan officer, they will need the VIN number and mileage on the vehicle, so make sure to grab that first thing.
By giving your lender that information, they can see how much the car is worth and can get your loan paperwork started.
You’ll get a call to come to the bank to sign paperwork, and that new car is all yours!