Top 5 Questions to Ask Yourself Before Buying a New Car
So you have made the decision to buy a new car. As easy as it seems to make your decision, it isn’t always a simple choice. You need to look at different aspects of your buying decision. But where do you start? We have compiled a list of the top five questions that you need to ask yourself before buying a car.
1. What features do I want?
Every car comes with a long list of features. Some are fancy and less useful while some are useful in daily commuting. You need to take a deep look at the features offered in every model and its variant and decide which ones really matter to you. For example, you may not require heated or massage seats but you may need Bluetooth® wireless technology to connect your phone and answer calls while on the move.
2. How much am I willing to spend on the car?
Have you decided the budget for your new car? If not, you need to first ascertain how much you are willing to spend. Car dealerships mention a selling price but are willing to negotiate to complete the sale. Many car dealerships offer incentives for the purchase of a new car like free insurance, cash back rebates and several other financial incentives. Take into account all incentives offered and see if it lowers the price of the car to some extent. The car should not be an impulsive purchase and you need to perform research to know your options while buying a new car.
3. What are the operating costs?
You need to consider operating costs of the car beforehand. Gather information about the model you want to purchase. Pay attention to gas mileage, maintenance costs, insurance costs and any other costs related to caring for the car. You need to also know different fees and taxes you will be required to pay after buying a new car. For example, registration fees, road taxes and other fees are all common.
4. How can I save money on the purchase?
If you are opting for an auto loan, you need to pay attention to the monthly repayment amount and interest rates. Many people only focus on monthly payments and are happier when the lender agrees to smaller monthly repayments. The interest rate is an important factor as well. If the interest rate is high and the repayment period is longer, you end up paying more for the car. Before approaching a lender, check your credit score. If you have a good credit score, you can ask the lender to reduce the interest rate which would save you a good amount of money in the long run.
5. What are experts saying about the car?
Before you decide to buy a particular model, find out what experts have to say about it. Car reviews can give you lots of information about the car which the car dealership won’t give unless you ask for it. Also, read reviews from car owners and get their views on the car. Car reviews can prevent you from a bad purchase and help you purchase a new car with confidence.