How to Pick a Car
Purchasing a car is a major expense so it’s critical to use good decision-making to find a car that will meet your needs. The car buying process can be overwhelming but this article makes the steps involved in the buying process easy and manageable. Don’t forget to have fun while shopping for a car.
1. New Vs. Used
There are advantages and disadvantages to buying a new or purchasing a used vehicle. Budget considerations will likely play a role in whether an individual chooses to buy a new or used vehicle. New cars are equipped with manufacturer warranties that give some buyers peace of mind. This is the major benefit of purchasing new rather than used when determining how to pick a car.
2. Budget
Setting a pre-determined amount you are willing to invest in a car will greatly narrow your buying options and streamline the purchasing process. Consider buying a used car and making a commitment to drive the car for ten years. Cars today are built very well and this budgeting plan could save you literally thousands of dollars. Purchasing a car that is just two years old can save you money because you won’t be subject to the 20% depreciation that occurs as soon as a car is driven off a car lot. Factory warranties are typically still in place on these barely less-than-new vehicles. If you decide to buy a new car, strive to make a down payment of at least 20%, keep the term of the loan less than four years, and keep monthly payments at 10% or less of your income. Double the price tag of the car you are considering purchasing and then divide by sixty to get a ballpark figure of the total cost to purchase, insure, and operate the vehicle.
3. Research
There are a vast number of resources on the Internet to assist with the research process involved in purchasing a new car. Consult websites that offer unbiased consumer reviews. Company websites can be an excellent source of specification information for new vehicles. Car magazines commonly showcase test drives and commentaries on new vehicles. Family and friends can be a great resource for personal recommendations. Parents are usually more than happy to give you tips on how to pick a car.
4. Shopping
Don’t allow a car salesman to use high pressure tactics to get you to depart from the budget you’ve pre-determined. Be prepared with the research you’ve conducted to let the salespeople know what you are looking for. The Internet offers databases that allow you to view a huge selection of new and used vehicles from the comfort of your home. Parameters such as distance, price, year, make, and model can yield excellent results without wasting time and gas traveling from dealer to dealer. This is also a good way to avoid aggressive salespeople if you have a problem being assertive.
