There are some people who don’t know how to buy your first car in Malaysia. Ok, I will help you on how to buy your first car in Malaysia. Actually it’s kinda easy if you follow this step because they can avoid you from scammers. Here are some tips about how to buy your first car in Malaysia.
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Tips when you bought a car
Be honest about your needs
Do you need a car to get to school or work every day, or just for weekend adventures? What is the weather like where you live, with snow, rain or heat? Assess your lifestyle and the driving conditions you encounter most often. Do your research: Learn about different features and options and how they can affect a car’s price.
Think about your budget and financing.
Also take a realistic look at your finances. That includes not only the purchase price, but also the budget for the use and care of your future car, including maintenance, insurance, fuel, repairs and parking. Learn about the true cost of owning a car. A down payment isn’t usually required for your loan, but a down payment is usually a good idea: you won’t have to borrow as much, and your monthly payment will be lower. Use a car loan calculator to see how a down payment can affect your monthly car loan payment.
Explore your options
Buying your first car is a lot easier for you than it is for your parents. The internet offers a large number of sellers outside of your area (who can deliver cars to your area, which may incur a fee), which can mean more options in your price range. You can research and narrow down your options by looking at online car reviews in categories such as safety or car type (like SUVs, hybrids). Learn more about buying and even financing a car online. For new cars, ask several dealers for prices. If you’re looking for used cars, be sure to request a Carfax report, which details a used car’s history, including accidents.
Know Your Credit Rating
Your credit rating helps determine the interest rate you will pay on a car loan. A better credit score can help you get a cheaper interest rate, which in turn affects your overall car buying budget. You can also check your credit score for free through your credit card provider.
Apply for a Loan
Purchasing a car loan before you buy a car may seem counterintuitive, but it helps. It gives you an idea of how much you can borrow (and at what interest rate), meaning you don’t have to make financial decisions on the fly at the dealer. Start with your bank or credit union, then get quotes from other lenders to make sure you’re getting the best interest rate. Learn more about Bank of America’s online car buying resource.
Take a test drive
Once you’ve found a few cars that might suit your needs and budget, test drive each one to see how it makes you feel and how it performs. Try to drive all the cars you are considering driving on the same day so you can easily compare them. It’s a good idea to call ahead to make appointments to structure your day, and it will help you gauge the customer service at any dealership.
Closed deal
You’ve done your research, you know what you want and your funding is available. When it’s time to negotiate the deal, you’re in control and can focus on reading your contract carefully. However, before signing, please ensure you understand the terms of any financing and collateral agreements. After your ride, make sure you don’t miss a car payment by signing up for automatic bill payment so you can focus on your next destination.
