What to Consider When Planning to Purchase a Car

Our weekly #CreditChat started in 2012 to help our community learn about credit and important personal finance topics (e.g. saving money, paying down debt, improving credit scores). Each chat is hosted by @Experian on Twitter and all are welcome to participate. DM us any questions.

Planning to purchase a car this summer? Don’t miss this week’s #CreditChat! We’ll share tips for planning for your car purchase including important questions to ask, how to create a budget for your purchase and how you can prepare your credit to potentially qualify for the best interest rates.

Topic: What to Consider When Planning to Purchase a Car

When: Wednesday, May 17, 2023 at 3 p.m. ET.

Where: Join the live hashtag discussion

The panel will include: Experian Automotive, Matt Jones: Director of Industry Relations and Education at True Car, John M. Vincent: Senior Automotive Correspondent at U.S. News & World Report; Beverly Harzog:Credit Card Expert and Consumer Finance Analyst for U.S. News and World Report; Rod Griffin: Senior Director, Consumer Education and Advocacy, Experian and Christina Roman: Consumer Education and Advocacy Manager at Experian.

Gift Card Giveaway

Enter here for a chance to win a $50 Amazon gift card! We will be announcing a winner at the end of the chat. Entry Period: Raffle open now and closes at the end of this chat at 4 p.m. ET. Complete rules here.

Questions we will discuss:

  1. What factors should you consider before deciding to buy a car? 
  2. How can you determine how much of a car loan you can qualify for and how much of a loan you can reasonably afford?
  3. What are some costs associated with car ownership that you will need to consider in addition to the monthly payment amount?
  4. What are some important questions to ask when shopping for a car?
  5. How do you determine whether you should buy a new or used car?
  6. How do you effectively negotiate with a car dealership?
  7. What resources are available to help you determine if a used car is reliable?
  8. What should people know about the current interest rates when purchasing a car and how can they shop around?
  9. How can you manage your credit ahead of a car purchase to help you qualify for the best loans and interest rates?
  10. How can you determine whether you’ll need extras like gap insurance or an extended warranty?

Check out our complete list of upcoming personal finance Twitter chats here.

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