A new car is one of the more major purchases you will make. If it is time for you to get a new vehicle, you have probably gotten quite a bit of advice as to the best car to buy. Do you need a new or preowned car? Which manufacturer makes the best vehicles? Should you purchase a car, a truck or an SUV? While we can’t help you make any style choices or do your research for you, we can assist in some ways.
Is a New Car Right for You?
Some people love to have all the latest toys, bells and whistles every couple of years – others will drive a car “until the wheels fall off”. If you are some one who drives a car for the long haul, a new vehicle may be your best option. You’ve probably been told that a new car depreciates as soon as it rolls off the lot. That is true, so if you want to trade it in within a few years, you may not want to take that hit. If you are going to drive the car for as long as it lasts, that new car may serve you well, as depreciation rate slows significantly after the first years.
Buying a new car is also a good choice if you have a great credit score. Car manufacturers and dealerships often offer attractive discounts and low interest rates to buyers with excellent credit ratings. If you think you want a new car and can wait, purchasing a new car early in the year can often be your best option, as the models from the previous year are usually on sale at liquidation prices. Another great time to buy a car is tax season, as dealers offer great prices anticipating purchasers with refund checks.
Some people require that their car has all the latest safety features – not to mention all the fun toys and gadgets. These may include features like rearview cameras with backup assist, additional airbags surrounding passengers from all sides, or advanced navigation and communications systems. Depending on the features you need and want, a new car may be necessary – versus an older car without these features.
Finally, you may want to consider a new car if you are concerned about maintenance and repair costs. A new car will be under warranty and you can be basically assume that most needed repairs that come up will be covered.
More to Consider
- When purchasing a new car, research and information are necessary. There are numerous website and online resources which can inform you of new car rankings, owner reviews, and test drive videos. You can read about other buyer experiences, look into dealership reviews, and feedback as to ownership. The more information you have, the more confident you can be that you are choosing the right vehicle for you.
- When buying a new car (or making any purchase), you should determine ahead of time what your budget entails. You should never deviate from your budget, at least not by raising your budget. Having a firm budget in mind allows you to only look at those cars which fit into your budget. Don’t allow the salesman to convince you of a higher price point.
- If you are financing your car, don’t just look at the monthly payment. Look into costs over the length of the loan such as interest payments and fees. You may think you can afford the monthly payment, but they may have dragged out the payments for an additional year. Focus on the total package and not just your monthly budget and payment.
No matter which car you choose to purchase, you will need to purchase auto insurance. The experts at Anderson and Associates Insurance Group are here tp help you to wade through the confusion and get the best possible coverage for your needs.
