SmartMoney Monday: Buying a car - Hawaii News Now - KGMB and KHNL

SmartMoney Monday: Buying a car

(Image: Hawaii News Now) (Image: Hawaii News Now)

Buying a car can be exciting, but it can also be stressful because of all the expense and all the choices.  One survey found that for many people, buying a car is more stressful than getting married. The most important thing is to be really prepared. Are you someone who can keep a car for a long time or are you a person who likes to change cars every few years?

It's also a great idea to get pre-approved and set up your auto loan in advance. That gives you better negotiating power and, instead of negotiating the rate at the dealership, already have the information on what you can afford and compare it to what the dealer is offering. Another great way is to start making payments towards your new car before you get it. You can deposit those monthly payments in a savings or checking account that earns interest, that way you'll have money to put towards a down payment and you'll know if you can sustain owning a car. 

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