Springtime is peak car buying season. While Americans may be buying more cars this year than last, the pandemic has reminded us of the importance of financial stability and saving on expenses where we can.
If you are shopping for a new car, make sure you thoroughly review your finances and/or speak with a financial planner about what kinds of payments you can comfortably make. Remember to account for both the cost of car purchase as well as car maintenance.
Keep in mind when you purchase a new car, it is also a good time to evaluate and purchase new car insurance if needed.
The resources below may be helpful as you navigate your finances before buying a car:
What’s the true cost of your new car?
When budgeting for your next car or truck, it's important to realize its ultimate cost may be different from what's posted on the window sticker. Cars have many costs, which fall into two broad categories: costs to buy and costs to own. Read More
Consumer loan calculator
This calculator is a self-help tool used to quickly estimate the loan amount or monthly payment that fits your budget.
Financial readiness score
Get a detailed look at areas where you are doing well and areas where you have opportunities to improve.
What you need to know about car loans
Choosing a car or truck is a big decision usually made after a lot of research. However, if you're planning to borrow money to buy your next vehicle, and after you've assessed how much you should spend, you should study lenders and their terms as closely as you explore different makes and models.
How to negotiate a great deal on your next car
A car dealer's job is to be great at negotiating. However, you're the one in the drivers seat — so you have the real power. Learn how much your current car is worth and decide whether you'll trade it in or sell it on your own.
What you need to know about your car insurance options
It helps cover damage to your vehicle, as well as damages and injuries you cause if you hit someone. If you don't have enough car insurance, you could be on the hook for more than you can afford. Take a look at types of coverage.
For a full overview of car buying tips—from negotiating to insurance to maintenance—visit USAA’s Auto Learning Center.
Investments/Insurance: Not a Deposit • Not FDIC Insured • Not Bank Issued, Guaranteed or Underwritten • May Lose Value
This material is for informational purposes and is not investment advice, an indicator of future performance, a solicitation, an offer to buy or sell, or a recommendation for any specific product. A Financial Readiness Score should not be used as the primary basis for making investment or financial decisions. A Financial Readiness Score provides a basic assessment that is based on information and assumptions provided by you regarding your goals, expectations and financial situation, but it does not guarantee financial success or replace more detailed financial planning. The calculations do not infer that USAA assumes any fiduciary duties. Consider your own financial circumstances and goals carefully before investing or purchasing financial products. Before making any decision, consult your own tax, financial or legal advisors regarding your situation. Information provided by you in connection with the Financial Readiness Score tool is voluntary, will not be considered in connection with a request or application for credit or insurance products/services, and may be used by USAA for marketing and other business purposes as set forth in the USAA Privacy Promise.
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