First Bank of the Lake: Tips for the First-Time New Car Buyer

Have you ever owned a NEW car? You'd be surprised how many people haven't. Buying a new car for the first time is a big step. Before you've probably either had a car given to you as a graduation present and just made it last as long as possible or you bought a car but it was used and you were able to pay cash at the time but buying a new car for the first time is different. Our bank at the Lake of the Ozarks is here to give a few tips for the first-time new car buyer. You will likely need an installment loan if you are purchasing a brand new car for the first time, call First Bank of the Lake at (573) 348-2265. We can help you figure out your best loan options that work with your budget.

Tips for the First-Time New Car Buyer

Stick to your budget.
When you walk into that dealership it can be really easy to be distracted by cars that are NOT within your budget. Stay focussed and only check out the cars that are within your budget and pay no attention to those cars that aren't. Remember, this car is something you'll likely be making payments on for the next 3-6 years so make sure they are going to be payments you can afford.

Make a list of the things you need out of a new car.
Go into that dealership with a plan and make a list of your must-have's, such as:

Great gas mileage
Four doors
Large trunk
Four-Wheel drive
Automatic windows
Automatic seats
Cost no more than $300 a month

...This is just a sample list, but you get the idea. Make your list and bring it with you into the dealership so you can stay on point.

Look online and have an idea of the car you want before you get to the dealership.
Car shopping has become much easier over the years as technology has evolved. Look online at cars near you and have an idea of what you want before you even walk into the dealership. This way, you have a good starting point when you get there.

Get Your Car Loan From First Bank of the Lake!

The installment loan specialists at our Lake of the Ozarks bank are ready to assist with your car loan needs! No matter what type of car you are trying to purchase, we can help guide you in the right direction when it comes to your financing. We offer competitive rates and terms to fit your budget. Call us today at 573-348-2265 to discuss your needs and know that you may qualify for immediate approval and processing!

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