How to be Prepared for a Car Purchase

There is car shopping and car purchasing. We often intend to do the first, but find what we want and end up doing the other or wanting to. If you plan on car shopping, there are a few things you should bring and prepare in advance. If you expect you might purchase, there are a few more things, and more still if you plan to finance the purchase. Alderman Automotive offers these tips for the next time you car shop. 

What To Do in Advance 

A little due diligence before you head out will do wonders to improve your shopping experience. We want you to be as comfortable and confident as possible when you shop with us, and a little preparation in advance is the best way to achieve that.  

Narrow Your Consideration List 

It will help you if you consider in advance what type of vehicle you want. If you are ready to consider everything from a pickup truck to a convertible, the number of choices will be almost as overwhelming as the pro and con thought process in your head with each vehicle that tickles your fancy.   

Think about how you want to use this vehicle. Will a sedan cover your needs, or do you need the cargo-carrying ability of an SUV, which usually costs a bit more? What size are you comfortable with? In general, smaller cars cost less to buy and operate, but larger vehicles will have roomier interiors and often more features. Consider how much power and acceleration you really need. It is fun to test acceleration on test drives, but driving as you usually do is the best way to evaluate a vehicle. Is all-wheel drive important, or would you rather have the better fuel mileage of front- or rear-wheel drive? Ask yourself these and other car ownership questions in advance so you can narrow your search. You can always make exceptions on location if you see something unexpected. 

Know Your Trade-In Worth 

If you plan to trade in your present vehicle, research its present value. This will help you know what you can afford. You can look online and see what others are asking for your make/model/year with similar mileage and feature level, but remember those are retail prices, and trade-ins yield wholesale value. A more precise method is to shop your car at used car dealers. Getting quotes from them will give you a good idea of what your model, with its mileage and condition, is worth in your area. You aren’t being insincere, either. If the someplace gives you a higher value than where you are purchasing your next car, you can simply return to where you received the highest quote. 

What to Bring When You Shop 

Valid Driver’s License 

This is an absolute must-have! Ensure your driver’s license is current and valid. It’s the primary source for verifying your identity and ensuring that you’re legally eligible to test-drive a prospective model.  

Current Insurance Card 

Bringing along your current insurance card provides proof of insurance, which is likely necessary if you are considering test-driving any vehicles on our lot. It also helps streamline the paperwork when you finalize your purchase. 

Utility Bill 

A recent utility bill serves as proof of residence. This helps verify your address and ensures all documents are correctly addressed and recorded. 

What to Bring If You Might Purchase 

There are two steps to this. One if you plan to purchase the vehicle outright, and two if you plan on financing. If you expect to purchase, then make sure you bring along: 

Cash 

Good old-fashioned cash is always welcome! It’s an immediate way to settle your down payment and get closer to driving off in your dream car. Obviously, keep in mind necessary security precautions when carrying enough cash to purchase a car.  

Check 

If you prefer the security and record-keeping of a check, we happily accept them too. Just ensure it’s a valid form of payment and the balance is sufficient. 

Written Trade-in Quotes 

If you pre-shopped your trade-in, we cannot guarantee that we will match your best trade-in quote, but a written quote from the source will be more persuasive if you want to take care of everything in one place. 

What to Bring to Finance Your Purchase  

Pre-Submit Your Credit Application 

Pre-submitting your credit application before your visit can save time and streamline the process. Click here to access our online credit application. This will give our finance team a head start on securing your best rates and terms. If you have secured financing from another institution, be sure to have everything you need, including your loan officer’s contact info, on hand.  

Recent Pay Stubs or Three Months of Bank Statements 

We want to ensure you’re comfortable with your purchase. Your two most recent pay stubs help us understand your financial stability and aid in the financing process. If you are self-employed, your bank statements from the past three months clearly show your financial health and consistency. Be sure you have the most recent ones handy. 

Credit/Debit Card 

Are you planning to make a down payment using a card? We accept up to $3,000 on a card. Please note that there’s a 3% fee for any amount exceeding this limit. 

Co-Signer (If Necessary) 

If you’re a first-time buyer or your credit situation requires backing, you must have a co-signer present or all the required documents ready to expedite the process. 

We Hope to See You 

Alderman Automotive has been in the Fishers, Carmel, and Noblesville area for over seven decades to provide customers with fine pre-owned luxury cars, imports, trucks, and SUVs, as well as a top-notch service area to keep them at their best. We pride ourselves in our customer service and hope to provide you with the best possible purchase experience this time and in the future.