What To Bring When Buying a Car
Buying a new car is always an exciting experience. However, with the high excitement and nervousness when heading to the dealership, buyers often forget a few things, even those who have bought many new cars over the years.
Centennial Subaru has you covered with a helpful checklist to know what to have with you before coming to our dealership. You can also call our dealership and make an appointment with a salesperson and ask if there is anything else you may need to bring with you.
Driver’s License & Proof of Insurance
You may think there is no way you could forget to bring your Driver’s License and valid insurance information, but you would be surprised. If you come from an older car into a brand-new vehicle, you may only have Liability Coverage. When you purchase a new car, you must upgrade that to Full Coverage. You should bring your insurance card and account information so you can quickly call your agent and change your insurance needs.
Pay Stubs & A Utility Bill
Dealerships like seeing at least two of your most recent pay stubs to accurately assess your total yearly income. This helps the dealer input your information for banks to see if they want to loan you money to purchase a car. It wouldn’t hurt to bring at least one utility bill to prove that the address on your driver’s license is correct.
Once you have arrived at Centennial Subaru and picked out a car you like, you will sit with the salesperson and fill out a credit application, which will include your social security number, estimated taxed yearly income, your current address, and previous addresses if you haven’t lived there for more than a few years, as well as your employer information, and the like. You can, however, get a head start and fill out the credit app online for Centennial Subaru before you get there. This way, you can spend less time at the dealership and more time on the road in your new car.
Some buyers prefer to go to a lender before working with a dealership. This way, you know exactly what buying power you have before you enter the dealership. If you have been pre-approved by a lender, that’s great news! Ensure you bring all the information the lender sent you detailing your financing approval via email or mail.
Some buyers can take advantage of special discounts and rebates. When doing so, make sure you bring the relevant information about the specific discount or rebate. For instance, if you are in the military, make sure you have your military ID card. Subaru has special offers for active duty military, college students, and recent graduates.
Self-employed buyers, please make sure to have the last two years’ worth of your most recent bank statements, as well as two years of tax returns.
Need A Co-Signer?
Sometimes, buyers will need the assistance of a co-signer, especially if you don’t have a lot of established credit or if this is your first automobile purchase. If you plan on having someone co-sign for you or know that you may potentially need someone to co-sign on your loan, make sure that either they come to the dealership with you or they are ready and able to answer the phone when you call so they can talk to the salesperson to get their information for a credit app.
Do you intend to make a down payment on the car you are purchasing? If so, make sure that you have enough money on your credit or debit card, plus possibly 3% for credit card fees. If you have cash or can write a check, Centennial Subaru will gladly accept either of those forms of payment, too. For estimation purposes, let’s say you plan to put $3,000 as a down payment; an extra $90 may be added to cover the credit card fees the dealership has to account for.
Are You Trading A Vehicle?
When trading in your current vehicle for a new car, you need to ensure you have a few things with you. Please confirm the trade vehicle has its registration and inspection up to date. If your current car is paid off, bring the title, making sure that you have not signed it yet. If the vehicle isn’t paid off, then make sure you have all of the account information for the lien holder. Also, don’t forget to bring all keys to your vehicle. If Centennial Subaru has not serviced your current vehicle, please try to bring as many of your service records as possible. If you don’t have them, you can always call the dealership or shop you have been working with, and they can print or email you copies of your service records. Before heading to the dealership, you can appraise your car’s value online to understand how much you can expect to get for your trade.
Total Vehicle Loss Information
If you were recently involved in an accident and your vehicle was a total loss, first let us say we hope you and anyone involved were safe and unharmed. Make sure to bring your insurance payout letter that states the vehicle was a total loss and shows the payout amount. If you have Guaranteed Asset Protection or GAP insurance, then bring your coverage payout confirmation.
At Centennial Subaru, we are happy to offer our customers hundreds of new and used vehicles. Our fantastic sales team and finance department will work hard to find the best car that fits your needs. Our dedicated service department will always ensure that your vehicle is taken care of in the best way possible.
We look forward to serving you soon.