Micro Guide to buying a new car
Article by Isabella Aldridge | Sept. 9th 2017
Buying a new car is far from straight forward and with this being such a long term investment, the process deserves a great deal of care and attention. Yes, the colour or model may be an easy decision but you only get one shot and there is far more to consider than the appearance when buying a new car. With that said, check out the following micro guide to help you though this most important process:
Buying a new car and asking questions
Buying a new car is an incredible exciting experience and the anticipation can be almost palpable at times. However, patience is a virtue and often the difference between getting everything right and having regrets after the transaction. For this reason, you simply must take your time and ask an insurmountable number of questions about each and every aspect of the car. Whether you carry out this research by asking friends, making phone calls or scouring online reviews from each and every person who left one, this process will help you reap the rewards and ensure the best informed decision.
Research and reviews
There are many websites in this regard and online forums which offer free advice to people with little knowledge of cars. Thankfully there is no shame in asking as many questions as you feel necessary and you should find that car enthusiasts are usually happy to offer up their extensive knowledge for little more than a thank you. While Facebook is featuring more and more of this kind of content, YouTube is arguably the best place to carry out this research as the reviews are visual and carried out by new owners who likely had all the very same questions before making their own purchase.
Lastly, another useful resource for choosing the most reliable motor s to check out government run websites such as Safer Car who outline accurate ratings and many experimental results which demonstrate the vehicles ability when performing under stress.
Tips for choosing the right type of car
- Depreciation is real – Yes, you are buying a car and the thought of selling it seems ridiculous now, but one day this will happen. Cars depreciate over time but some lose their value a lot faster than others and you can estimate the cost of this deprecation using this free tool on What Car?
- Cost of running – Keep in mind that the type of car will not only decide the upfront cost but also the cost of running the vehicle going forward. For example, smaller engine cars are often more affordable and also cheaper to run in terms of fuel and insurance. Likewise, while hybrid cars are more expensive, they are usually cheaper to run.
- Diesel is not always better – While diesel vehicles are generally a better choice for people who take regular long and arduous journeys, the same is not true for every driver. This is especially the case if the intended use of a vehicle is to motor around town as a small or even an electric car could very well be the most economical.
- Check the warranty – Choose a dealership who take pride in their warranty and offer customers as much support for as long a period as possible. We never expect anything to go wrong with a new vehicle but as already mentioned, this can happen and warranty is there for good reason. Many dealerships will have a standard amount of time but it is always worth discussing this with them directly and they should be more than happy to help if in any way possible.
- Organize car insurance – Of course you can ask the dealership if the car comes with insurance. Otherwise you will need to make sure the car is fully insured before you have ownership. Regardless of how much care is taken while driving your brand new vehicle home, this is illegal and not worth the risk.
Adequate finance is just as important
Amid all the excitement of buying a new car, it’s understandable to waive the importance of finance and put this on the long finger. In fact, finding the right provider for a car loan is absolutely crucial to the buying process and is worthy of just as much attention as the actual car. After all, the auto finance will feel just as present as the car itself after the investment.
You can find a free car affordability calculator here to check exactly how much car you can afford based on your personal circumstances. At the same time, you might want to calculate the car loan payments with this free tool on the same website.
That being said, the above calculators should be used for estimation purposes only and the best way to figure out your available credit and best loan is to make an appointment direct with a loan provider.
Other points to keep in mind when choosing a car loan
- Term of loan – Many people make the mistake of choosing a longer period to ensure smaller loan repayments. However, paying over a longer term will end up a lot more costly and once the loan is repaid in full, you certainly will not regret having chosen a shorter period.
- Upfront Payment – Whatever you can afford to pay up front, get it done. Many dealerships will suggest you hang onto the cash for a rainy day but again, the sooner you repay this loan, the better and an upfront installment will save you money in the long run.
Choosing the right car dealership
Finally, as soon your extensive research is finished and the loan agreed, the fun part of the process begins with a trip to the car dealership. Buying a new car is so much more enjoyable than a used vehicle for every reason but mostly for the fact that you know exactly what you are getting and should this not be the case, the dealership is always obliged to resolve the issue right away.
However, choosing the right dealership is still important as an investment of this size and importance, requires that you know that these are people you can trust. Obviously it will be in everyone’s interest if you buy the car and everything goes swimmingly but manufacturer faults do happen and these are the times when you will feel thankful to have chosen the right dealership who genuinely cares for you even after the sale.
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