4 Important Questions to Ask Yourself when Purchasing a New Car

What to think about when buying a car

You’re excited to buy a new car, but before purchasing a new car, make sure to ask yourself a few questions to make sure your car will suit you now and into the foreseeable future.

Consider these questions before purchasing a new car:

1. What are you going to use it for?
2. How long are you going to keep the vehicle?
3. Who else is going to be using it?
4. What is your budget?

This will help you distinguish what you want and don’t want in a car. With cars typically being the second largest purchase you’ll make – and a purchase you’ll be living with for a while – you want to choose a car you love not just on the lot, but every day.

What are you going to use it for?

When purchasing a new car, first consider your family and your lifestyle.

Is this a car you’ll use just to get yourself around, or do you have a large family? Are babies going to be part of the picture? If so, you’ll want something that can easily accommodate car seats. A two-door sedan would make your life unnecessarily complicated. Four doors would be more practical.

Drive an elder parent to appointments? You’ll want a car that’s easy to get into. An SUV you have to step up into wouldn’t be the best choice. Something low to the ground would make life much simpler – and safer.

Will you be hauling a boat or camper? If your vehicle isn’t equipped to handle a camper, you could cause damage to the car. Carrying lumber for a DIY project at home? What about transporting kids to hockey practice? You want to make sure all the equipment fits – oh, and the kids too!

Do you have a long commute? Something fuel efficient is something to seriously consider. Compare 40mpg versus 20mpg multiplied by 5 days/week times, 50 weeks/year. Those miles add up!

How long are you going to keep the vehicle?

Is this a car you’ll sell in two or three years or one you’re aiming to hang onto for 20?

If you’re single but plan to get married eventually, a two-seater sports car is fine if you plan to sell it in two years. Do you envision life a decade later involving a spouse and a couple of kids? When purchasing a new car, consider how your needs will change and try to accommodate for it now.

Who else is going to be using it?

Do you have a new driver? Safety will be a concern topping the list as teens have the highest rate of accidents per age group. Look for safety features that will keep your teen safer in the event of a crash. Think about safety features that could aid them in driving. Parallel parking anyone?

Do you and your spouse have a height difference? Depending on its interior, a compact car might be a headache for someone over 6 feet. On the other hand, someone who’s 4’11” in an SUV where it’s hard to reach the peddles doesn’t serve anyone well either!

What is your budget?

Set your budget before you start looking!

And remember, there’s more to consider than just the car payment. Include these items in your budget:

• Auto loan payment
• Car insurance
• Fuel (keep in mind that it fluctuates)
• License/Tags
• Routine maintenance
• Repairs

When purchasing a new car, a good rule of thumb is to allot no more than 10 percent of your income to your car payment per month on a 48-month term loan. Usually you can get a loan for 20 percent of your income. Even so, you should still aim for under 10 percent. It’s also wise to have a 20 percent down payment.

Figure out what you’re able to spend so it can guide you to the right car.

Watch out for this!

There are some things that might seem obvious … that is, after you’ve already purchased your car. Make sure you’ve thought things through beforehand:

• Will your car fit in your garage? It seems obvious, but deserves a mention because it has happened. Avoid this scenario!
• What features do you love in your current car? Are they something you could live without? If not, be sure your next ride has those heated seats or parking assist.
• What will your car insurance run? Consider items such as safety features, which lower your car insurance. Other factors that determine insurance cost include the car’s popularity, appeal to thieves, and the cost of parts and repairs. Don’t let your first insurance bill be a surprise!

Before purchasing a new car

Keep these things in mind when purchasing a new car and you should be able to narrow down your choices. Soon you’ll be selecting details, like if you want a built-in navigation system – or how many cup holders are available in the van for sippy cups. Happy shopping!

Links:

https://www.thinkthelen.com/

https://www.autocheatsheet.com/new-car/questions-before-buying-new-car.html

http://www.gocompare.com/car-insurance/questions-to-ask-before-buying-a-car/

https://www.lifehacker.com.au/2015/04/14-questions-to-ask-yourself-before-buying-a-new-car/

Tags: car, new, purchasing
Posted in Uncategorized | No Comments »