If the time is coming where you feel the need to buy another automobile, any inkling to what make and model you may get?

Given all the different choices out there on the auto market, you could find this decision to be a bit of a challenge.

That said there are steps you can take to make things a little smoother driving forward.

Of most importance, make sure you have the proper finances to get another car or truck. The last thing you can afford to do is buy something that is way out of your price range.

So, is it time to go vehicle shopping?

Where Will the Money Come from?

In looking into your next car or truck, will you have the finances to buy a used vehicle or something brand new?

Many consumers end up taking loans out when it comes to buying their next car or truck. While this is the norm and fine, make sure you are going to be able to afford those monthly auto payments. The worst thing you can do is get in over your head.

In looking at your finances, sit down and get a good idea of how much money you send out on a monthly basis.

This would include things such as:

• Rent or mortgage
• Credit cards
• Food
• Utilities
• Health insurance and other forms of insurance
• Cable and Internet

The goal is to make sure you have enough money on a monthly basis for your basic needs. That is before diving into a potential auto payment.

Who Will Give You the Best Deal?

When the time in fact does arrive for you to buy another auto, who will give you the best deal for your money?

Given the goal of automakers and dealers is for their brand to be a winner, take advantage of the specials.

For example, it is not uncommon for many dealerships to offer sales late in the year. This is because they have the next year’s models on the showrooms and in their lots. As such, they want to get the current year’s vehicles out of there. If you can, consider waiting until this time of year to shop for your next vehicle.

It is also a good idea to shop around for a car or truck loan.

Given the competition among banks, chances are you can land a good loan deal if you put some effort into the search.

Finally, you want to consider the used vehicle market.

While you may want a new car or truck with all the bells and whistles, do you need such features at the end of the day? You may discover a used vehicle is perfectly fine for your needs.

By taking the time to shop in an un-rushed and smart manner, chances are better that you land the vehicle you want.

If it ends up being your dream vehicle, this is great. If you have to wait a little further down the road for such a vehicle, this is not the end of the world.

When buying your next vehicle, be sure you can afford it and don’t bankrupt yourself.

James Montano