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Whether it is your first time or going for an upgrade, buying a new car is always an exciting experience. However, it is easy to get caught up with all those emotions and make bad decisions. That can ruin the entire experience, and you end up with a vehicle you do not want.
You need to assess several things when purchasing a new car. Performance, safety, and even warranties are just some examples. Check companies that offer affordable car insurance, read car reviews and other consumer reports can help you navigate your way through all of these.
Here are some things you need to look into when buying a car.
Brand-new or secondhand?
There are several pros and cons to purchasing a brand-new or secondhand car.
You can expect to get the latest features and technologies when buying a brand-new car. Being new and never been used, you know it will be reliable. A secondhand car is cheaper since vehicles have high depreciation.
If you are looking for a backup car, buying a used one might be best. Ensure you do proper due diligence, though, to check the condition and paperwork of a secondhand car.
If the purpose of the new car is to serve as your main one for commuting to work, you may want the reliability of a brand-new vehicle.
Get financing in order
One of the worst things possible is falling in love with a new car and finding out you cannot afford it. To avoid that, you can get a pre-approved car loan. That reveals how much you can afford for a car.
It makes shopping easier as well. Since you have a set budget, you know specifically what level of vehicles you can look at.
Type of vehicle
You should also think about the type of vehicle you will shop for. What exactly do you need? To answer that, think about what you will use this for.
Here are a few questions you need to ask yourself:
- How many passengers would you usually have?
- If the car is for commuting, is fuel economy a huge consideration?
- How are the roads in your area or places you would usually drive to?
- What cargo capacity do you need?
- Do you need to place child car seats?
- What features do you need?
- How much parking space do you have?
Knowing the answer to these questions can help you trim down the choices to what you need. For example, if you have two kids and need a family car, then a van or SUV might be best for you.
Car safety features
There was a time that the seatbelt was the pinnacle of car safety features. With recent innovations, though, cars are becoming safer and more practical. That being said, what safety features are you looking at?
Standard features today include:
- Front airbags
- Safety belts on all seats
- Electronic stability control for vehicle management
- LATCH child safety system
Some areas require specific safety features by law. It would be worth your time to look at that as well.
Car insurance requirement
If you are getting a loan, the car would be used as collateral for this. The lender would want to protect their investment. They will most likely require you to get an insurance policy for the car.
Consider evaluating how much is car insurance. The type of coverage you need and how it could affect you.
Certain states also have insurance requirements for every car and driver on the road. It does make sense, though. You do not want to be empty-handed if something happens. At least you know that the repairs would be paid for if you have car insurance.
Upkeep costs
Different car models have different needs in terms of upkeep. Some cars need less maintenance, while others can require you to do specific regular maintenance. It all depends on the design.
You should research the background of cars in your shortlist regarding their upkeep and what to expect. You may think you are getting a good deal because of the upfront price, but if the maintenance is a problem, you could end up paying more than you should.
Other costs
There are other costs on top of the actual price of the vehicle. That includes vehicle registration, stamp duty, roadworthy certificate, GST, and delivery, to name a few.
Some costs are state-specific, with others you can avoid. For example, you can opt to pick up the car rather than have it delivered to your home to cut down the expense.
Either way, it would be smart on your part to research and consider this as part of your car-buying budget.
Story by Cedric Jackson
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