Many people make the decision to buy a car in haste. Everybody has an idea of what they want and the list of goods the car must have often looks similar in all cases. People like new, shiny cars intact with the new car scent, all the bells and whistles, and good gas mileage. These are all good things to want in a car, but often all of those elements come at a high price that shouldn’t necessarily be one you pay.
Cars depreciate in value the minute they’re driven off the lot. This means that the brand new car you bought will lose value up to 11 percent. On a $30,000 dollar car, that’s a difference of over $2,500 in just one minute. The longer your drive, the more the value goes down.
Consider Buying Used
Due to the reality of this matter, you should consider buying a new-used car instead of buying the newest model of a vehicle fresh off of the lot. New cars are nice, but you can find something on or off the lot that still has many of the bells and whistles you’re looking for at a much more reasonable price.
Run the Carfax
People can be sketchy with vehicles. You never know when a serious mechanical problem is being covered up or lied about until you’ve bought the vehicle and it’s true colors start to show. For this reason, you should always look up the vehicle you’re considering purchasing on Carfax. The site is easy to navigate, it has a mobile app, and you’ll always have the information on the vehicle right at your fingertips. Last oil change included. It’s handy to know the info when you’re about to shell out several g’s.
Consider Your Lifestyle
It’s true that Volkswagon Bugs are cute and get pretty decent gas milage, but when purchasing a car, you must evaluate your lifestyle and your needs. If you’re a musician or somebody who uses their vehicle to haul a lot of stuff or people around, a bug will probably not be the right fit for you.
What you want and what’s realistic might mean completely separate vehicles for you. Make a list of what you want in a car, for sure, then compare it with what you need. Are leather seats necessary, or is it more necessary to just have a car with working air conditioning?
Know How You’re Going to Handle the Money
There are many different ways to come up with the money to purchase a car. How much you need will determine what financial route you’ll want to take. You could work hard to save enough to buy the car outright in cash or you can lease or finance. The choice is yours, just know the difference between each to determine what course is right for you.