Buying a vehicle can be one of the most expensive (and costly) purchases a person will make. Car shopping can be a daunting task, so consider the following tips to help you make the best decision.

Financing Options. If you aren't paying for your vehicle in cash, you need to find the best financing available. Check out financing options before you begin your hunt for the perfect car. Securing the lowest possible interest rate and term could save you thousands of dollars in the long run. Contact local credit unions, banks, and dealerships to find the most competitive rates. Goldenwest Credit Union has a first-time auto buyer program that allows you to receive the best possible financing, even without an established credit history.

Budget Impact. Car ownership can be expensive. Before heading out to look at cars, it is a good idea to see what kind of car you will be able to afford. Remember, when crunching the numbers to include the costs of the insurance, maintenance, gas, and registration.

Needs vs. Wants. Prioritize the car features that are most important to you. Take into account safety, the type of cargo capacity you will need, and the driving conditions your vehicle will endure. Avoid purchasing what you don't need. While your first car may not satisfy your entire list of desires, don't ignore everything you want and end up with buyer's remorse. You may keep the vehicle longer than you originally planned.

New or Used? There are pros and cons to each option. New cars typically have a better warranty, but you will pay more for fewer features. When buying a used vehicle, you can typically get a better deal on a car with more features. However, with a used vehicle you likely won't know the car's full maintenance history, and repairs may not be covered by a warranty.

Due Diligence. Don't rush into a decision. Do as much research as possible online. Test-drive various vehicles to determine performance, comfort and utility. Seek out competitive offers in your area once you determine the make and model of the car that best fits your needs.

Goldenwest financial representatives can help you look up the value of a vehicle, calculate a loan payment and even get an insurance quote.

Author: Goldenwest Credit Union