Whether it’s your first car or a replacement for your old one, buying a car is a big deal. It’s an investment in your travel, safety, and your future trade-in value. Anytime you buy a new car, you should carefully examine each step to make sure you are taking the best path. To help, here are 5 steps to take right away.
 

Get it Insured Immediately
 

If you are buying a car from a dealership, you can’t drive it off the lot until you buy car insurance. In between buying the car and taking it home, you’ll need to call up an insurance provider and purchase at least some basic coverage. 

The same can be said when buying a car outside a dealership too. Before you drive off with a car you bought used from another person, you need to have insurance. Driving an uninsured car is illegal and can result in hefty fines. 

Now, this is just for purchasing basic coverage of your car, but you should consider doing more than that. Comprehensive coverage protects both your car and any vehicles you might hit. You could also purchase Pioneer’s Guaranteed Asset Protection (GAP) which in the situation that your vehicle is totaled but still has a loan on it, can pay out the remainder of your loan. 
 

Have a Plan In Case It Breaks Down
 

From the moment you buy the car, you need a plan in case something breaks on it. That could include understanding basic maintenance for the car, how to put on a spare tire, and who you would call if the car breaks down on the side of the road.

Your plan should also include how you intend to pay for repairs if your car breaks down. An emergency savings fund is a smart move to have for situations just like this. Rather than pulling from your regular income, you instead have savings to use in case you need more expensive repairs. 

Another option is to use Pioneer’s Mechanical Breakdown Protection (MBP) which can cover expensive repairs on parts like your engine, air conditioning, and even give you bumper to bumper protection. 
 

Get it Registered
 

If you purchased your car from a dealer, you likely got temporary tags that last 30 days before you need to get your car registered. While you have 30 days, don’t wait till the last minute to get your car registered. The DMV is often busy, backed up, or unavailable at the end of those 30 days, and driving an unregistered vehicle is illegal. The sooner you get your car registered, the better.

If you are purchasing a car from another person, you don’t have 30 days to get it registered. Head directly from buying the car to the DMV and get it registered that same day. To register it, you’ll need the car’s title, loan documents, and proof of insurance.
 

Check for Repairs and Recalls
 

Just because you bought a car does not mean it’s perfect. Even a brand new car can have all sorts of issues you need to know about. With a new car, you need to look up and watch for any recalls. New cars especially sometimes have issues involving software or parts that are problems you should get fixed.

It’s also smart to have your new car inspected to identify any problems you can have repaired. This could save you a headache in the future and probably some money. Especially if you bought a car from another person, have it inspected by a mechanic you trust.
 

Make Sure Your Auto Loan is a Good Deal
 

Depending on your circumstances, you might not have had time to shop around for a good auto loan, or had the misfortune of getting a loan at a high rate. But worry not, you aren’t stuck with a rough loan. 

If the rates drop or something changes, you can refinance your auto loan. This can lead to a lower monthly balance or lower interest. Pioneer does offer refinancing for auto loans. Our dedicated team members can help you with the process of refinancing and get you into a Pioneer auto loan that benefits you!

Refinance an Auto Loan