Buying a New Car? What to Keep in Mind
For most of us buying a new car can be quite a daunting experience, particularly if you don’t have a detailed knowledge of the motoring world. You shouldn’t let this get in the way of you and your next vehicle though; below we’ve put together everything you need to consider before making your purchase to hopefully see you on the right path to the right car.
Can You Afford It?
Before you even look at cars, you should set yourself a maximum amount of what you can afford to spend on everything from deposits, to monthly payments and running costs. This way you’ll limit the chance of any financial struggles further down the line.
Do your Research
The aforementioned running costs can really make a difference in the long run, so you should then do some research into the different models that you’re interested in. Check for things like MPG, road tax costs, reliability, drive-ability and learn more about car insurance comparison.
Consider the Re-Sell Value
It’s common knowledge that cars depreciate in value, but some tend to drop in price more than others. On top of your research look into which models hold onto their value better, especially if you know you’ll be selling on at some point.
Go for the Test Drive
With a few cars in mind, it’s time to narrow down your options, and what better way to do this than take it for a test drive? If you can, go on a route that takes in different roadways and speeds to get a real feel for what the car is like.
What About Extras?
Whether you’re buying privately or from a dealership, you should enquire about any extra benefits you can get. You may need to barter here, but ultimately, you’ll hold all the cards as the seller will want to give you the extras.
See if you can get free servicing, vehicle safety tests, or extended warranties; in other words, the things which will help you save more in the future.
What are the Alternatives
Lastly, if you don’t feel that you would be able to buy a new car or you aren’t confident in your ability to negotiate for added extras, then rest assured there are other options. These include leasing vehicles or getting financial support from lenders, these can take some of the hassle away from buying aspects you’d otherwise have to manage yourself.
Whatever preferences you may have in your buying habits, consider some of the above aspects so you don’t end up with buyer’s remorse. This needs to be an investment you’re happy with and from which you’ll get your money’s worth.