8 Considerations to Make When Buying a Car With Your Spouse

The idea of buying a new car can be a fun-filled one. However, when you and your spouse are working together to find the ideal car to meet both of your needs, things can get a little tricky. Fortunately, by following the eight tips that we're going to discuss below, you'll be well on your way to having a fun and enjoyable car buying experience with your better half.

 

1- Your Combined Budget

 

Before you both hit the car lot with eyes filled with excitement and wonder, you first need to sit down and do the math. Review both of your finances and see what you both can comfortably afford to pay for a new vehicle. Remember that you need to consider the car payment, fuel costs, registration fees, and insurance premiums as well as ongoing maintenance fees.

 

2- List Your Needs

 

After reviewing your finances, it's time to assess your actual needs and wants. You'll want to make a list of all the features that your new car needs to have to be functional in both your lives. For example, you may need a truck bed to transport lumber for your carpentry job or you may need at least six seats to fit all members of your family. After determining your needs, make a wishlist of your wants as well. These are things that would be nice if you could have them in a new vehicle, but you won't die if you don't get them, such as heated seats.

 

3- Determine Vehicle Type

 

There are a few different options when it comes to the type of vehicle that you can get for your family. These include coupes, sedans, SUVs, and pickup trucks. Each comes with its own benefits and drawbacks, like fuel efficiency or towing capacity. Take the time to discuss with your partner what type of vehicle will best suit both of your needs. This will help to greatly narrow down your search later at the dealership.

 

4- Narrow Down Your Color Choices

 

Car color is another area where spouses can struggle when it comes to picking a new vehicle. You can help to sort this out ahead of time by making a list of colors that you both are fine with. For example, you may like red, blue, white, and black, while your spouse likes white, black, and green. You can agree on putting both black and white on your list of approved color choices.

 

5- Get an Auto Loan Preapproval

 

If you and your spouse will be taking out a loan to cover the cost of your new vehicle, then you should get a preapproval before heading to the dealership. One of the best places to do this is at your local bank, which tends to have lower rates than other lenders. See what interest rate and term offerings you get for co-signing the loan together. In some cases where one spouse has a much higher credit rating, you may find it advantageous just to put the auto loan under their name.

 

6- Determine a Price Range

 

Another must-do before you hit the dealership lot is to set a specific price range that you'll stay within. For example, you may decide on $35,000 to $40,000. This will ensure that you stay within your desired price range when negotiating the buying price of your new vehicle.

 

7- Research Potential Models

 

As you and your partner narrow down your list of potential vehicle models that you like, be sure to do some background research. You don't want to spend a bunch of money investing in a new car to find out that there are a ton of recalls.

 

8-Both of You Test Drive the Car

 

Lastly, you should never buy a new car without test driving it. When it comes to buying a car with your spouse, you both should test drive the vehicle to ensure that you like it. Looks are one thing, but feel is a completely other beast.