![]() ![]() ![]() If the numbers don’t work for you, you may wish to delay your purchase until your financial stability improves-as 35% of surveyed car buyers impacted by economic factors did-or consider reducing the overall cost. Knowing the financial information upfront can help you determine your situation. Online tools like Capital One Auto Navigator can help you find a car and see your real rate and monthly payment on cars you choose. So, determine your maximum and don’t exceed it. In such circumstances, you might be tempted to up your car-buying budget, but it’ll do you no good to shop outside your means. Largely due to supply-chain issues and inflation, new-vehicle prices rose to an all-time high in 2022, and interest rates went with them. Equipping yourself with the tools and resources that can help make car shopping easier may wind up saving you money-and putting you behind the wheel of the new or used model that’s just right for you. If you’re looking for a new car in today’s market, it pays to be prepared. In January 2023, Capital One released the results of a survey that asked 2,210 car buyers and 400 dealers about the car-buying process in the 2023 Capital One Car Buying Outlook, and the responses show an obvious disconnect between buyer and seller opinion in areas of transparency and whether it’s a good time to buy. Fortunately, Car and Driver and Capital One share a similar approach when it comes down to the rigorous testing and methodology around what we choose to drive. If you’re not properly prepared, it can put a strain not only on your wallet but also your mind. For many if not most, it’s among the biggest purchases they’ll ever make. ![]()
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