If you’re thinking about a new car these days, you’re not alone. I’m seeing more and more new cars on the road as evidenced by the temporary license plate hanging in the back window. A new car however doesn’t necessarily mean that it’s brand new off a dealer’s lot. You may decide to buy used (which is usually the better choice). If a “new” car is in your future though, you may want to take a few steps to make the purchase more manageable for yourself.

First of all, if you’re planning on financing some portion of the purchase you’ll want to take a good look at your credit rating from the different bureaus. Every consumer is entitled to one free credit report per year, but very few people actually take advantage of it. Just go to AnnualCreditReport.com to order your free reports. By knowing your credit rating you know what kind of financing you can expect and can also take steps to raise your score if that be the case.

In order to determine whether or not you can realistically afford the new purchase, you may want to set aside an amount each month equal to your estimated monthly payment. After doing this for some time, you’ll not only know how the payment will affect your monthly finances, but you’ll have a nice down payment as well for when the time comes. I would highly recommend this option to anyone who is looking into getting a new car or adding any significant monthly bill to their finances.

You will also want to research ahead of time the type of car that you’re looking for. The last thing you want to do is walk into a dealership without any idea and have the salesman talk you into something. You’ll want to be familiar with the options that are offered and decide beforehand which options you do and don’t want. Knowing this information up front allows you to negotiate the best price on a vehicle that you actually want.

Finally, before you buy that new car, take a step back and ask yourself whether you really need it or if it’s just satisfying a nagging want. Buying a new car can be a great experience, but the “perceived newness” to you doesn’t actually last that long. Just make sure that it’s purchase that doesn’t put an unnecessary strain on your finances and that you won’t regret in the near future.

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