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RenéMarie Awaken You Group

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Ethan Rodriguez
Ethan Rodriguez

Requirements For Buying A New Car


You'll need to bring your driver's license, proof of auto insurance, and financing documents (if applicable) to the dealership when buying a car. If you are financing, experts also recommend getting preapproved for a car loan, which requires current proof of residence, proof of income, and your credit score. For a trade-in, the dealership will ask for your vehicle's registration and the certificate of title or the car loan account information.




requirements for buying a new car



Buying a new or used vehicle is a major purchase, and it can be a complicated process, but by following some guidelines and doing the right research before the sale, consumers can minimize or eliminate common buying errors.


There are a number of auto advisory and buying services that can assist you in deciding on a make and model, and then negotiate for you. This can save a substantial amount of time in the car-buying process. Before signing up with such a service, find out exactly what it will cost and what you get for your money. Do not give the money for the vehicle to the broker or buying service; money must be paid directly to the dealer that delivers the vehicle.


Previously trade-in credit was allowed between husband/wife, or parent/child without the title having to be changed into the other entities name that was buying the new vehicle. The vehicle must be in the same name as the new vehicle being titled in order to receive trade-in credit for tax purposes.


If the vehicle being gifted to someone has a lien, the new owner will pay 6% sales tax on the loan balance prior to receiving a clear title for trade-in purposes. The title has to be in the same name as the vehicle being purchased in order to receive trade-in credit (i.e. brother gives his brother a vehicle, but the vehicle has a lien on it, the balance of the lien is $5,000.00). In order to get the title the dealer must pay the lien off. Once the dealer receives the title the original owner (brother) would then have to sign the title over to the new owner (brother). The brother who is buying a new vehicle must surrender the title and pay sales tax on 6% of the lien (6% of $6,000.00 = $360.00 sales tax) in order to get trade-in credit on the new vehicle being titled.


But bear in mind, a brand new vehicle has never been insured. This means that if you purchase a car without a license or insurance, the car would need to be transported by tow truck delivery. It may be an option for some, but it is a more complex and expensive endeavor than traditional car buying methods. 041b061a72


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