Set a budget for financing a new or used car. Make a list of do’s and don’ts, wants and needs to prevent ‘buyer’s remorse’.

Do some research on models, types of car, manufacturers etc. Test drive different cars and see which features suit you. Set yourself a margin or date bracket for old and newer car models and find out as much about the previous histories of the cars that you are looking at. Research is the key so look at as many different car finance and insurance options as possible as the results may be the decider.

Ask friends and family about their finance options on their cars and piece together your own set of guidelines to follow. Your local car dealers can take you through your car finance options and independent financial advisors can give you advice on taking out a personal loan.

Once the car has been found, its histories checked, finance options looked into and you are happy with the potential purchase it is time to negotiate. This is where you need to stick to your original plan and budget.

The warranty of the car is important too so ensure you understand all of it, your restrictions and what it means to your finances if you don’t stick them. Some warranties are different to others and the details are in the small print. If it is a good warranty all of the detail will be understandable.

Finally before you pick up the car and hand over any money, make sure everything is in writing. Read the small print again and ensure the car is up to scratch minus any paintwork, dents etc- if agreed.

Finally, when you get your keys ensure you separate the two that you receive and put the spare one somewhere memorable for safe keeping.

Source by Sara L Wright