Buying a new car is pretty exciting and in my experience, the excitement never gets old regardless of whether it is your very first car, or you 15th. I have learned through the years that it is very important that you strip the emotion out of buying a car if possible and focus on the cold, hard facts of functionality, affordability and practicality.
To give you an example of the mistakes that you can make, a few years ago I bought myself a sports car, a two seated convertible. I actually went to the dealership with every intention of picking up a saloon, that was before I fell in love. I was excited for a while but then one day I had to pick up the kids and run some errands and it dawned on me just how impractical my choice had been. I sold the car at a loss, bought something more sensible and learned a valuable lesson. Here’s some tips so that you don’t make the same mistake.
How Will You Use It?
This is probably one of the most important things to think about when buying a new car, how will be using it? If you will be commuting each day and covering many miles, then it doesn’t make sense for you to pick up a gas guzzling car. At the same time, and as I had to learn, if you have a family then a sports car is not going to be a practical option.
New or Used?
There are many benefits to both new and used cars and you will need to make a smart choice between the two. New cars are not as expensive as they once were and there are many good finance plans out there which makes getting a new car a possibility, new cars also lose their value very quickly so if you think you’ll sell quickly then this might nit be the best idea. Used cars hold value better but may not come with a warranty or may be susceptible to break downs due to age. If you do plan on picking up a used car then buy your next car from a dealership over a private seller so that you can get a better deal and have more protection for your purchase.
Check The Insurance
When you have decided on which car you wish to buy it is important that you check out how much it will cost to insure. I have friends who bought first only to find out the insurance was through the roof. Different cars cost different amounts and the price also depends heavily on the driver’s age, experience and driving history. Make sure that you don’t pick up a car that could cost you the earth and ensure that you get a quote for your car insurance before you sign on the dotted line to buy your next car.
Keep the excitement when buying your car, but ensure that you look at the nuts and bolts of the decision first.