When purchasing your next family car it can be easy to get distracted by the excitement and possibilities. Once the decision to buy has been made, your mind immediately fills with pictures of the dream car you wish you’d had when you were a teen, of driving the kind of vehicle that makes others envious or owning a vehicle so luxurious you’ll never want to get out of the driver’s seat. Of course, none of these things have anything to do with making a wise choice, which in the end is what you need to do.
Other than the purchase of a home, buying a car is the biggest purchase that most families will ever make. Although it is important that you like your car, it is much more important that it fits your needs. Here are a few things to take into consideration when you’re making your choice.
Set a Firm Budget
Most people live on a fairly strict budget. Having a reliable vehicle is an absolute necessity for any busy family, but you must balance what vehicle you choose to buy with the stress that an auto loan will place on your budget. You must be determined to be very pragmatic in your decision.
You must first determine what your budget can provide. It is important to be very exact and not be satisfied with a general idea of what you can afford. Once you have determined the price you can pay, your next decision would be whether you need a new vehicle or a used one. There are benefits to purchasing new such as warranties, reliability and longevity; however, if a new vehicle will strain your budget, it is always a better choice to find a good pre-owned car. Be honest with yourself about what you can afford.
Buy What You Need Not What You Want
For many, the purchase of a car is a rare event, something that only happens every several years. When faced with spending a great deal of money on a vehicle, it can be tempting to tell yourself that you may as well treat yourself and get all the extras.
When you’re already investing thousands on a car, it can be easy to think that the little extras will hardly increase the debt by much. However, those extras do add up. A few hundred dollars for interior wood trim, a little more for heated seats, even more for the most advanced camera system. And on and on it goes. It is crucial to keep firmly in mind what you need, what extras could actually be useful and those that are completely indulgent. If you can afford some luxuries, go for it, but be certain that you are filling all of your needs first.
Keep the Future In Mind
You’ll probably have your next vehicle for some time, so even though you don’t want to buy anything you don’t need, you do need to keep the future in mind. If you think you might be adding to your family, be sure you’re choosing a vehicle that can accommodate any additions. If you’re on a career path that will dictate certain needs such as the ability to transport quantities of items in the near future, it’s best to think about that now. Give some thought to the changes that you can reasonably expect in the next five years or so and consider those when deciding on the perfect vehicle to buy today.
When buying a new car, or at least one that is new to you, you must guard against the desire to give in to impulse. You’ll need to reign in your excitement and put logic firmly in the forefront of your mind. Consider your budget as well as your current and future needs in making your decision. Once you’ve attended to all the pragmatic concerns, you can indulge in a few extras. A sports car may not be in your future, but they do make mini-vans in bright cherry red too.
