Planning to buy a car? Brand new? or you would go for a used car? There are some considerations that you need to think about first. Rushing to buy things without thinking further could be a blessing or could become a burden for you. Stop and think hard because buying a car is not a game like Need For Speed where you can buy if you like one or sell a car right away when you don’t like it.
So what are some considerations that you need to deliberate before buying a car?
NEED OR WANT?
This is always my rule when buying something. I always ask myself first. Is it a need? or a want? Same in buying a car. Weigh your options and write it down. Ask yourself some of these questions:
- Do I need it right now?
- Is it budgeted For?
- How often will I use it?
- Can I maintain it?
- What do I gain if I purchase this car?
- Will I be getting the best deal?
- Can I get by without a car?
No need to answer all of these questions, 2-3 questions will do just to help wear off that sense of impulse buying.
RESEARCH, RESEARCH, RESEARCH
After contemplating, don’t buy right away. Not yet. Do your research first. Check from one car dealer to another, compare prices and inclusions. You may do this online or you can check the actual car in the shop. This really helps because having information from different car dealerships can help you negotiate prices- especially on used cars.
Not just that, look for reviews as well to make sure that they are legitimate car dealers so that if issues arises after a period of time within the warranty period, you’ll know where to go back.
Lastly, if you are buying used cars make sure to ask these information: number of checkups, past owners, accidents incurred, and any repair history just to help you decide whether to get it or not.
KNOW THE CAR’S MARKET VALUE
Used/pre-loved/ cars are always a great option for the budget-conscious. But first, you have to know the fair value of the you car are eyeing to buy. That is why thorough research is very much needed and that’s easy nowadays as internet is very accessible and information can be found mostly online already. If you are in doubt, my advise is you go directly to the car agent/seller or used car dealership and ask around. You don’t want to buy an overpriced used car right? Do your canvassing first. List down the pros and cons of each used cars that catches your interests and of course indicate the price. This will help you see and compare if one seller is selling higher or lower than the other based on the car’s current and actual condition.
For new cars, we all know that it’s way more expensive than used cars though it has lots of advantages. However, there’s still a downside. Its value depreciates the minute you drive out of the showroom. Yes! it is already considered as used car, but still, less issues to think about. So think again. It is still up to you.
If you bought a brand new car, you may check its depreciation value per year here.
CASH OR CREDIT?
So before buying a car, you must be at least financially ready. Buying a car can get a big chunk of your hard-earned money. That is why, you should consider all the expenses that comes with it such as yearly registration, maintenance, fuel budget, insurance, taxes, and more.
If you have the budget for a brand new car, you don’t need to go all-in and pay in full cash. There are good perks in paying in full though. Car dealers are usually giving discounts and more freebies. You can go for it, but make sure you still have left for other important things.
If you want to stretch your money a little more, you may apply for a car loan. My mom did that when she bought our Ford Territory this year and she’s bound to pay the car in the span of 5 years. She got some freebies too like mini vacuum cleaner, upgraded paint, car tint, and wash kit.
If you are in the practical side, you can buy a used car. It’s way cheaper than the brand new ones. Some are selling at 40%-60% off depending on the condition. Some used car dealers do offer car loan options as well.
GET PROFESSIONAL ADVICE
There’s no problem with brand new cars. As you can always drive back to the car dealer in case some issues arises which are usually covered under warranty. Used cars are more complicated and will tend to have more issues in the long run. Having a better understanding what to look for in a used car is a must. The more thorough you are, the better. If you are clueless on what to check, it’s better to bring a knowledgable car mechanic with you, so you can check right away the condition of the car. Check everything from exterior, body form, brakes, air conditioner, suspension, tires, trunk, pedals, lights, exhaust system, seats, car odor, glass, transmission, wirings, and everything under the hood.
Don’t forget to test drive. ok?
Shopping for a car can be a bit challenging, but with the right preparation, research, good advice from a professional, you won’t have any regrets. I hope these tips can help you decide in choosing what car is best suited for you.
