So I am planning on buying a 2011 2LT CGM Automatic with IO Interior but since I have never bought a new car (or any car for that matter) on my own I need a few things clarified for my own sake. So here goes:
1. What all do I need to make sure I have lined up before purchasing a car? (Insurance, loan/down payment, etc.)
I'm afraid that I will run into some hidden costs that I didn't even think about down the road. I will have emergency money saved up, but I am being extra careful.
2. I understand I need to have full coverage on a new car that I am making payments on, so what is typically considered "full coverage?"
I have looked this up, but I can't seem to get a good answer.
3. Is the down payment paid prior to ordering the car through a dealer or after the car has arrived?
If the down payment is after the car arrives then I can save even more for my down payment. If I have to pay it before the vehicle is ordered, then I will just save up more money for insurance and other things.
4. When can I expect my first payment to be?
I have heard that this is at the end of the first month after I receive the vehicle. I am unsure how accurate this is though.
If you have any other information that I might need to know or have overlooked please feel free to respond. I am just trying to cover all the angles before I make this purchase.
Thank you for your help in advance!
----Brandon