Although buying a new car is exciting, completing the mounds of paperwork associated with the purchase lacks the same luster. If you know what to expect as far as the paperwork aspects of buying is concerned, some of the hassle is eliminated and it’s much easier to buy a car. Buying a new car results in completing contacts, purchase agreements, financing papers, registration, and mounds of additional paperwork that can take hours to complete. It might sound simple but time-consuming, there are many difficulties experienced during the paperwork completion process. If you’re searching for the best new cars for sale near Memphis, use the information here to reduce the headache of the paperwork involved in that process.
Bring it With You
When visiting the dealership to buy a new car, bring a few documents with you to reduce delays in the purchase. You should bring to the dealership with you:
· Financial Documents: If you’ve not already been pre-approved for an auto loan, bring paycheck stubs or tax records from the prior year with you to the dealership. They’ll run a credit check to determine your creditworthiness but also use your proof of income in their decision of the money they can approve you for the loan.
· Down Payment: Most dealerships require a down payment ranging from 10% to 20% of the purchase amount. Bring a credit or debit card to cover this amount or a certified check. If there’s any question concerning the form of payment the dealership accepts, acquire ahead of time.
· Driver’s License: Dealerships sell vehicles only to licensed drivers 18+ and do verify this through your driver’s license information (as well as a credit check.) Be prepared to present your driver’s license when you arrive at the dealership.
· Insurance: You need full coverage auto insurance to buy a car in Tennessee. This includes state-required coverage and collision and comprehensive insurance. You cannot drive a new car off the lot without proof of coverage available. Bring proof of coverage for the vehicle with you to the dealership or be prepared to buy while you’re there.
When you’re prepared with the items above, it speeds up the paperwork and you’ll become the proud owner of the vehicle of your choice so much sooner. Inquire ahead of time with the dealership to learn if there are additional items needed to bring with you to the initial purchase and have those items with you as well.
Paperwork is an essential part of buying a car but one that most people don’t enjoy. Nonetheless it must be completed if you want to buy a vehicle from the dealership at any time. It is all a part of the way things are done. Minimize some of the headaches that come with the paperwork and make sure the information above is put to use when you’re buying a car. It can save you a ton of time and hassle when you are prepared!