Leasing
As with purchasing a car, if you decide to lease, keep the negotiation on the terms of the lease separate until after you’ve settled on a car price. Keep in mind the interest rate (or money factor) you get on a lease is also very dependent on your credit score. For more information on whether leasing is right for you, check out these articles on CarsDirect.
Insurance You can change insurance providers anytime so it’s not critical to worry about while you are closing the deal. However, the type of car you buy can greatly affect your premium, so be sure to consider that while budgeting. It’s always a good idea to make sure you have a competitive policy and a change in vehicle can serve as a reminder to see what’s out there.
Tip:
Get competitive quotes from Esurance, Geico, or AllState before adding your new car to your current policy. If you are 50 or older, try the AARP® Auto Insurance Program from the Hartford. And if you find a better rate, call your current provider and see if they can match it. If not, switch!
Extras
Don’t be pressured to pay for anything you’re not certain you will need. Dealer add-ons and extras are a very big profit center for car dealerships. The Financing Manager will offer many add-on items such as gap insurance, fabric protection, paint sealant, and VIN etching (an anti-theft deterrent). All of these items you can handle yourself with kits from an auto-parts shop for a fraction of the cost.
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