10 Mar 3 Tips To Consider Before You Purchase That Next Car
Thinking of buying a new car? Before you do, here are just a few tips to consider first to make sure you are getting the right vehicle for you!
Know Your Budget:
It is essential to know and be aware of your monthly budget and to be sure that car you have your eye on will fit into that budget. You will want to become familiar with your monthly bills and expenses, then add the monthly costs of having a car. Be sure not to forget the expenses such as fuel, insurance, maintenance etc. Another tip is “to not let your total monthly car expenses exceed over 10% of your gross income” (Interest.com).
Find the right vehicle:
Decide whether you want to buy or lease a car and decide whether you are looking for a New, Used, or Certified Pre-Owned vehicle. Of course, there are pros and cons to each of these options. By leasing a car, “you are likely to get a more upscale car for your money,” Bankrate.com says. Yet, you must keep an eye on the lease terms and conditions of the car since you do not completely own it. Buying a car on the other hand, can be more costly upfront. Yet, in the long run, you will have lower interest rates and a full warranty on the vehicle. When it comes to purchasing a new vehicle, costs are likely to be higher but the car’s condition is perfect and untouched. Used cars tend to come at lower prices, but be aware of condition the vehicle is in before purchasing. Where as Certified pre-owned vehicles will be less costly than a new vehicle, typically are in good shape and tend to have fewer miles on them than a used car.
Shop at the Proper Time:
Looking for a better deal for that car you have your eyes on? Be sure to shop for vehicles during times like the end of the month or end of the year. Car salesmen and dealerships “have goals and are likely to give you a better deal if they need just a few more sales to hit their next bonus” Cars.usnews.com says. Another tip is to avoid shopping on weekends. Like any store, car dealerships are the busiest on weekends. Aim to shop during the beginning of the week, since it tends to be slower on those days, salesmen are more likely to give you a favorable deal due to the lack on consumers coming in. Another great time to shop is during the Holiday sales. It is likely that you will save great amounts of money compared to the prices that stand throughout the rest of the year.
“30 Best Car Buying Tips.” U.S. News & World Report, U.S. News & World Report, cars.usnews.com/cars-trucks/best-car-buying-tips.
Little, Kendall. “How To Buy A Car – 10 Best Car-Buying Tips.” Bankrate, Bankrate.com, 29 Nov. 2018, www.bankrate.com/loans/auto-loans/best-car-buying-tips/.
Pearl, Michael. “When Is The Best Time To Buy A Car?” Bankrate, Bankrate.com, 18 Dec. 2018, www.bankrate.com/loans/auto-loans/when-is-the-best-time-to-buy-a-car/.
Strohm, Mitch. “How Much Should You Spend on a Car?” Current Interest Rates Home Mortgage Rates More Interestcom How Much Should You Spend on a Car Comments, www.interest.com/auto/news/how-much-should-you-spend-on-car/.