Car Buying Process
A car is one of the top three most expensive things we will pay for in our lives. This fact alone can put a lot of pressure on a person who is considering buying a car. When looking for a new car, there are many things to think about, but it does not have to be an arduous undertaking. Below are some tips to help guide you through the process.
How Much Can You Afford?
The first and most important thing to consider is how much you can afford to pay for a new car. Take a look at your monthly finances to determine how much flexibility you have. Do you plan to take out an auto loan? How much will the interest be? How much will the insurance cost on the make and model vehicle you’re considering? Can you estimate the cost of gas and upkeep? Are there things you can cut back on to make a little more wiggle room for yourself? It is essential to go into the dealership or classifieds knowing precisely the amount you can fit into your monthly budget.
New or Used?
There are perks to buying both new and used, and this decision often comes down to the budget question. There is no doubt that used cars have a much lower sticker price than brand new ones. But when buying used, you run the risk of spending more on regular maintenance and upkeep than you would if you had gone with a new car. If you are mechanically inclined or have a generous friend or loved one who would be willing to help out in a pinch, it may be worth it to go used. With fewer mechanical problems, newer cars often get better gas mileage (some even 0 mpg!) and cost less to insure. There are a lot of considerations to take into account, so take your time and do your research.
How Does it Feel?
Taking your potential new car on a test drive or two is an excellent way to know if it will suit your needs. Not only will this allow you to determine if it’s comfortable to drive, but it will also help you ascertain if there is anything wrong with it. Does it make a strange noise or shift funny? If it does, request to take it to a trusted auto repair shop. Third-party shops are happy to perform a pre-purchase inspection and let you know if anything is wrong with the car you’re considering. Bring the inspection paperwork back to the dealership because it will give you some bargaining power if things need fixing.
In Over Your Head?
Buying a new or new-to-you car can be exciting, especially when you find one that you love. It looks great, and it’s fun to drive, and you feel great about it. Don’t let your excitement lead you to sign paperwork on a deal over your budget or on a car you’ve not yet had the opportunity to research. When you sit down with the salesperson to look at financing options, stay on guard as this is the time they offer expensive add-ons that may not be useful to you. If you’ve been looking for a long time, you may feel pressure to buy the car and get out of there. Don’t let that feeling get the best of you. Be prepared to walk out of the dealership with no deal. If something doesn’t feel right, don’t hesitate to say you need a day to think about it.
Purchasing a car can be a fun pursuit. There are a lot of moving parts in the process and a lot of information to think about. Take your time and be sure to use logic part of your brain instead of the feeling part. Someone who makes a large purchase based solely on their emotions will wind up with a more expensive car payment on a vehicle they don’t know much about.
