If you’re looking at buying a new car, then it is an exciting time, especially if your budget offers you a wide range of models to choose from. With so many makes and models on the market these days it can be a long process finding out which car is the best one for you. Do you go for the one that has the best finance deal or the one that you like the body design of, or go from a more practical angle of how fuel efficient the car is?
There is a long list of things to consider when you are buying a new car. Here are a few basic concepts that you should be thinking about:
- Compare across different dealers/online sales
The chances are that when you go into a car showroom, any car salesperson is going to be trying to make a decent profit on any used car that they try to sell you. It can be a bit overwhelming when they tell you that they will knock ‘x’ amount off or tell you that someone else is coming back later to buy this if you don’t snap it up now etc. Don’t fall for any of the sales tricks, in fact, if you see a car that you like you can quickly make an online comparison on your smartphone. Download one of the apps like Autotrader, and you will be able to search for similar cars to check how much they are being sold for. This will give you a better idea of whether it really is a ‘one off deal’.
- Set a limit
Before you go anywhere near a car dealership, work out how much you can afford and whether insurance, etc. is covered in your monthly costs, too. If you need to take out finance, then do your homework and see what the best option is to cover your budget. Finance deals that car dealers offer can often be at much higher interest rates, so you should always see if you can get a bank loan that offers better rates. Work out how much each option will cost you over the full length of the loan.
- Don’t buy brand new
If you are looking for a brand new car, just remember that as soon as you drive it out of the car dealers, you are losing thousands. A car’s value drops massively as soon as you buy it so sometimes it is worthwhile taking a car that is around six months old instead. Obviously still make sure that the mileage hasn’t been hammered, but you can usually pick up a good quality slightly used car.
- Take a look at reviews
Before you buy your car, take a look at car reviews to see how well the experts rate the car in certain categories. For example, if you are interested in a Toyota Corolla, compare reviews across the internet and with other models of cars, too.