There's a lot to consider when prepping to buy a new ride, so we asked the experts at AllSouth Federal Credit Union to help steer us in the right direction.

Here are three things you should do before heading to the dealership.

Get pre-approved for an auto loan

Pre-approval is a conditional approval based on your credit, income, and other factors, and it typically lasts for 30 days.

Did you know? You can apply for AllSouth's Auto Loan online or in-person at any of their locations.

Create a budget

Get familiar with your finances to see what you can afford. Pro tip: It’s recommended that you spend no more than 10-15% of your net pay on your car payment.

Remember to consider other costs, such as:

Gas
Insurance
Maintenance

Psst.. These additional costs, combined with your monthly car payment, should not exceed 20% of your take-home pay.

Research makes and models

Do your homework to determine which make and model is best for you. Consider what's most important, like:

Safety features
Cargo space
Gas-powered vs. electric

Once you've identified your "must-haves," you can narrow down the vehicles that fit your needs.

3 more things to know before you go