Buying your next car has never been an easy decision. The very thought of dealing with the car salesmen, infinite options and financing can make shopping for a car as attractive as a dentist visit. A prospective buyer also has to figure in the current economic downturn, gas prices and investment in buying a new or used car. Many car owners these days are asking themselves if they can wait another year to purchase a new vehicle or whether the need has become imperative. Below are some considerations to help potential car buyers make a good decision.
Why do you want a new car?
If your motivation in a search for a new car is just because you want something different, better or more stylish to drive, now may not be the best time to buy. While news reports say the economy is recovering, we have yet to really feel the effects. Gas prices alone can be a nightmare for frequent commuters; especially if you are considering a sports utility vehicle which inherently uses more fuel.
What's the condition of your current vehicle?
It's possible that the car you have now may have over 100,000 miles on it, but is it running well? Automobiles today are much more able to perform beyond that 100,000-mile mark and can still be considered to be quite reliable. However, if your current vehicle is prone to breakdowns and costly repairs, you might want to consider purchasing a new one with less problems.
If you were to purchase a new car, what should you get?
Many buyers tend to try out a different model of car when they get the chance. The trick is to do the research and find out what car fits your needs and which model is most reliable for your investment. Since sports utility vehicles use more fuel, it's best to avoid them unless your professional or personal life requires you to carry big loads or tow other kinds of vehicles. Manual transmission cars are historically cheaper and use less fuel than automatic transmission cars. Some buyers care about the origin of the models, i.e. whether the models are American or foreign. If you really intend to purchase a new vehicle, ask yourself these questions and do your research before you search local ads or step foot in a sales lot.
Should you buy new or used?
It's a well-known fact that brand new automobiles depreciate in value by several thousand dollars the minute you drive them off the lot. The more intelligent move would be to buy a used car so that you aren't sacrificing as much of your investment. A certified used vehicle with less than 10,000 miles on it will be less expensive and just as reliable as a brand new car. Also, you'll probably be able to maintain the warranty on the vehicle.
What is your financial situation?
If you still owe money on your current vehicle, make sure you take that into consideration when deciding on a new car. If you owe a lot of money, now may not be the best time to buy. If you own your current car outright, you don't have to worry about loan transfers. However, you still need to seriously consider your financial situation when you pick the type of car you want to buy. Find out exactly what the payments will be per month and be sure you can afford them without sacrificing other parts of your life's expenses. Then again, if you have a lot of cash, you don't need to worry about that. But if that were the case, you wouldn't be reading this article, would you?
