Here are four essential things to consider when buying a new car:
1. Cash or Loan?
Are you going to buy your next car in cash or will you be taking out a loan? Ideally, you should buy your car outright — but of course, this is not an option for most of us. If you need to take out a loan, it’s important to get the right lender for your needs. Consider traditional lenders such as banks, or look to specialist brokers such as Zoom Car Loans if you require a bad credit car loan.
2. Maintenance Costs
The car itself isn’t the only thing you need to pay for. There are many costs associated with owning and maintaining a vehicle, including:
- General service
For certain models, these costs can be very expensive. So keep in mind what you can realistically afford to put towards the upkeep of your car every year when shopping for your next ride.
3. Where Are You Going?
If you like to go off road in the mud every weekend, then a luxury convertible is probably not for you. Likewise, if you’ll only be travelling within a 5km radius from your house in the suburbs, a 4WD ute is not your most economical choice. Consider what you need your car for and where you’ll need to drive to. This will narrow down your options!
You should inspect the safety rating and features of the car you’re buying. Test drive the vehicle and have its features explained to you. If you’re purchasing a secondhand car, make sure that it has a current roadworthy certificate, has been serviced regularly, and is in good mechanical order.
Buying a new car is a huge investment, so whichever vehicle you buy must be both functional and practical. It’s important that you weigh your options carefully and consider both your finances and your needs when choosing. But, of course, buying a car isn’t all about practical matters – don’t forget to have fun when choosing car features and accessories that show off your personality!