How to Buy a New Car

Figuring out how to buy a new car in Plano can be overwhelming, especially if you’re just starting your search. In this guide from the Town North Mazda finance center, we’ll take you through the whole process—from deciding when to buy a new car, to calculating your monthly payments.

When to Buy a New Car

Before you start shopping, it’s important to get the timing right. Waiting too long to replace your current car, or buying a new car before you can afford it, can cost you more in the long run. Here’s how to know when to buy a new car:

• Repairs for your current car cost more than new car payments. To find out if this is the case, total your repair costs for the past year and divide by 12. Now compare that monthly cost with the monthly payment on a new car loan within your budget.
• Your current car doesn’t feel safe to drive. If your car’s condition makes you feel unsafe while driving in McKinney, it’s simply not worth keeping. You can’t put a price on your safety, and a collision could cost you a lot more than a new Mazda anyway.
• Your current car no longer matches your lifestyle or needs. Understandably, you may not want to give up your car if you like it and it’s in good condition. But if it doesn’t meet your needs in terms of seating capacity or cargo space, or isn’t efficient enough for your commute to McKinney, then you should strongly consider a new vehicle. Keep in mind that you can trade in your current car to offset the cost of a new one!
• Your car routinely fails emissions tests. A failed emissions test often leads to costly repairs that can’t be delayed. Knowing when to buy a new car means considering the money you can save over the coming years, and it may be financially smarter to cut your losses now and move on with a new vehicle.

How to Buy a New Car that Fits Your Budget

After you decide when to buy a new car, it’s time to start the search! At Town North Mazda, we stock a broad selection of new, pre-owned, and CPO Mazda models. No matter what your budget, you can find a car you love at a great price—from low-mileage CPO and Pre-Owned vehicles priced under 10K to new Mazda models. Here’s what to keep in mind when you’re checking out our showroom in Richardson:

• New Car Sales Tax — Remember to factor this non-negotiable tax into your budget, as it is typically added to your car loan amount.
• Interest Rate — A good credit score enables you to access lower interest rates on your auto loan.
• In-House Financing — You can choose to finance with an outside financial institution, or directly through your dealership. In-house financing may offer more flexibility if your credit score isn’t as high as you’d like.
• Mazda Lease Deals — If you’re not planning to customize your car, consider leasing. You’ll pay less each month for the latest technology and performance features.

Lease or Finance a new Mazda in Richardson

Questions about how to buy a new car? Whether you’re wondering about the purpose of GAP insurance, what CPO stands for, or how to buy a car in another state, the auto finance experts at Town North Mazda are happy to help! Contact us today to get started.