Here are things that new car buyers like you should consider:

• Credit report and score. Before sitting down and meeting with lenders or a sales representative from dealer financing, reviewing the credit report and score first can alert you to possible inaccuracies, missing information, or identity theft that could affect personal credit. And remember, checking your own credit report will not affect your score.
   

• Budget. An auto loan requires monthly payments for the length of the loan. It is important for a potential buyer to think about how much she can afford to spend on auto payments every month. Additional costs such as gasoline, maintenance, insurance, and miscellaneous car care are also factors that may vary from car to car.
   

• Research. Information is key to help you make the right decisions. In addition to knowing about your personal credit, there are other areas to consider:
   

  • Autos rate differently in terms of value, repairs, safety, and other invaluable information. Reading car reviews at www.consumerreports.org and www.kbb.com can help you determine what is best for you and your budget. Some sections of this site will require you to subscribe.

  • Consumer car-buying and leasing resource guides such as www.carbuyingtips.com offer suggestions on how to handle different car-shopping scenarios.

  • Pricing information for cars and available options can be checked from the manufacturers' websites. You may also want to compare other pricing sites such as www.autobytel.com, www.cars.com, & etc, to get a better idea of what the average price of a particular car would be.

  • If you have a trade-in, you may want to check out guides to help find the value of the trade-in vehicle. Online guides include www.nadaguides.com and offline guides include the Consumer Reports Used Car Buying Guide.
     

• Shop around. You may want to put on some comfortable shoes and visit several different car dealerships. A driver's license is required to take a car for a test-drive. The factory sticker lists the Manufacturer's Suggested Retail Price (MSRP). The sticker will list information such as the features of the car, including its fuel-efficiency rating for city and highway. A dealer's sticker may also be available and includes options and services provided outside of the factory. You may want to take notes when comparison shopping.
   

• Negotiate. Once you have narrowed down your decision, you will want to negotiate a fair price. A common negotiating technique is to start at the dealer's cost of the vehicle and work up from there. It is important for you to know your ceiling and not exceed it. Competitive information from different dealers may be used to your benefit. You shouldn't be afraid to walk away and come back later if you don't feel comfortable making a decision right away. Always think twice if you have to, and if there's any doubt, then you should leave to think it over.
   

• Making the purchase. Once you have made a decision to purchase a particular car, you will need to make some financing decisions. You can shop around for different rates and terms while keeping in mind what is contained in the fine print. You can also look for special promotions, rebates, and warranties that may apply.
   

• Monitoring credit. You may want to consider reviewing their credit report on a regular basis to keep track of where your credit stands. This will help you to stay on top of open credit accounts, inquiries, and more. Credit monitoring gives the consumer the information they need to stay on top of their credit.

Shopping for a new car can be an exciting time. Being organized, thorough, and knowledgeable puts you in the driver's seat throughout the process. After the car shopping experience, you may discover more items to add to pass along to other auto buyers

Sources:
www.nadaguides.com, vehicles pricing & information
www.kbb.com, Kelly Blue Book
www.consumerreports.org, Consumer Reports Ratings and recommendations, a nonprofit organization.
www.carbuyingtips.com, the world's best free car buying guide for buying new cars, used cars, auto leasing, and avoiding scams.
www.autobytel.com, research, buy & sell cars.

Note: This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.