You need a car, that’s probably not up for debate. Either you use it to commute or you simply can’t imagine not having one to get around in. However, are you truly ready to buy one just yet? Here are a few questions that need addressing before you get into the nitty gritty of finding the right deal.
What’s the trade-in value on your current ride?
If you’ve been holding onto your old car for longer than you probably should have, there’s a good chance that it’s not going to add a whole ton to your purchasing power, but it can make a significant difference in your monthly payments. Honest John has some excellent advice on the best ways to sell your car. Primarily, you want to look at the used market rather than selling it to a business. Businesses have their own profit to consider, so they will buy it for less than they can sell it, whereas a private buyer will simply consider how much they’re willing to pay to own a car.
How’s your credit?
Unless you’re very lucky with your money, there’s a good chance that you can’t afford to buy a new car outright with cash. Instead, you’re likely to be relying on a loan or financing deal of some kind. Businesses like Georgeson Cars let you figure out what kind of financing deal you can expect, so you can factor those costs ahead of time. To make sure that the best deals are available to you, you should look at improving your credit score. This takes time and the patience to build your credit with smart card usage and effective bill management, but it might be worth holding off a little while you have bad credit.
Do you know how to get a good deal?
When it comes negotiating the sales, it’s easy to fall into plenty of pitfalls. You should know what extras to avoid and which to invest in, for instance. An extended warranty, for instance, might not strike you as all that important but can be important for ensuring your car is protected in the long-term, saving you a considerable amount of money in the future. Look at the extras offered by dealerships you’re considering and do your research on whether or not they’re worth the money. If you decide they’re not, don’t be afraid to be firm about your decision.
Do you know the real costs of ownership?
A new car comes with new costs, and those costs should influence your decision. If you already know how much you’re likely to pay through insurance, it mostly comes down to fuel and maintenance. Motor Parks has a car cost calculator to figure it out based on the model, so take a good look at some of the cars you’re considering and know what you’re really going to pay for them.
If you’re not ready to buy and own a new car just yet, just remember that there are other options, such as leasing. However, the tips above can help ensure you a much better deal when it comes time to buy, so be savvy with your purchase.