Getting a car is certainly easier these days, with so many dealerships around and the wealth of information on the internet. But before you go buy a new car, there are 5 questions you should ask yourself that could help you make a wiser choice.
1. What is your budget?
This is an obvious question to ask yourself, but many people fail to answer it properly. All they see is flashy commercials and attractive cars, and some may get a vehicle that goes well beyond their financial possibilities. You should ask yourself not only how much are you willing to spend on a car, but what is your budget. That way you will manage to get what you need without being tempted to buy a car that throws your finances out of balance.
2. How do you plan to pay for it?
With so many financing options, many people forget that you can actually pay with cash when purchasing a car. While many people do not have the possibilities or the patience to save money for a future car purchase, opening a savings account and saving money until you have enough for a car isn’t such a bad idea. However, should you want to take out a loan in order to afford a car, it would be wise to consult with more offers from local banks so as to be able to take the one with the best rates.
3. Which car is the right one for you?
Once you have established a budget and thought about how you will pay for the car, it is now time to ask yourself which type of car you need. If you live in the countryside and do a lot of hauling, then an SUV or a pickup truck would be a good choice. If you have a large family, then getting that two seated sports car may not be a smart choice. Make sure you choose a car that serves your needs and not just one that looks good.
4. Should you buy a new car or a used one?
There are pros and cons for both options. A new car will most likely depreciate by a lot in the first few years, while an older can may save you money but require a lot of maintenance and repairs. Depending on your budget and how much you plan to use the car, a new car may be better than a used one, or vice-versa.
5. Are you willing to pay for extra features?
Most cars come with some standard features, but at a dealership, you may unpleasantly find out that the final car price is much more than you negotiated, and that’s due to the accessories you may not want. Some anti-corrosive coating may work fine if you live in a salty area, but otherwise, options that don’t offer you and advantage could be left out. Think about what you actually need and cut down on the features that don’t add value or utility.
So ask yourself these 5 questions and you will be better prepared to pick the car you need and afford next time you go shopping.