Buying a car can be a long process, and sometimes not the most fun! Although more and more young professionals are opting against owning a car, many of us still do. Whether you buy a brand new car (not something I recommend) or buy a used car that’s new to you, it’ll take some research and planning. It can also cost you a lot of money as well, so it’s super important that you take your time and make the right decision. Let’s explore a few thoughts around buying a car

Check to see if the Car fits in with your Lifestyle

You need to take some time to consider whether the car you’ve chosen is right for you and whether it fits your needs. Think about it, is it big enough? Or perhaps is it too big? If you have a garage or a tight space at the end of the road then it may be worth opting for a smaller model. If you have kids on the other hand, then you may want to opt for a people-carrier because the extra trunk space will really come in handy for those long family vacations. If you want to give yourself the highest chance of making the best decision then consider making a list of all the features you need, and then another with all the things you want. How is the gas mileage? What about the overall reliability rating? You won’t want to buy a car that will require a lot of maintenance.

Consider new technology

Newer cars are constantly coming out with new technology, both for our comfort and safety. One example is AEB, which stands for autonomous emergency braking. If you fail to stop for an emergency situation, the brakes will be applied for you. Cars that have this feature tend to be in 38% less real-world crashes, so if safety is a priority of yours then this is a feature that’s well worth looking into. If you want a dashcam too, consider looking into BlackBoxMyCar as they may be cheaper than your dealer. Although auto-pilot hasn’t worked out all that well yet, some parking assistance seems really cool! Of course going for all the bells and whistles will add up, but it could be worth it to get some of the newer options!

How are you Planning to Pay?

When you speak with your dealer, they’ll probably talk you through all of the payment options that are available. Sometimes this can be confusing, so before you even step onto the lot, make sure that you go through the ones that are available to you at home. This could include a loan, credit card, cash or even third-party finance. When you go into the dealership, you can then feel confident knowing that you are armed with the right information. You can do a lot of research and even get pre-approved from your bank or other lenders online. And, of course don’t forget about paying cash for your vehicle, it sounds crazy but I’ve done it for all of my vehicles so far! I’d rather not take on debt for a depreciating asset, and put my money to working in investments that will grow in value.

When budgeting for your vehicle, remember to include additional costs besides the cost of the vehicle itself. There are lots of other around maintaining your new vehicle. You need to consider insurance costs, which could be higher if you have claimed in the past or if you qualify for a hardship license. In addition to needing a hardship license after having accidents or driving violations (will vary state by state), even minor accidents or traffic violations could affect how much you pay for insurance. Do a little shopping around to help you decide if you can afford the new car. You also need to consider fuel and taxes too!

Stick to your Price..and Negotiate

If you’re set on what you’re looking for then you need to do as much research as you can. This could include finding the lowest price that the car is selling for online, and also finding out if you can buy a second-hand model too. It’s quite acceptable (and expected) for you to haggle with the dealer, and they will almost certainly give you a better price if you do. Keep that in mind and also reference the other prices you’ve found to get more bargaining power.

Buy at the Right Time

Believe it or not, the time of year you buy makes a huge difference to the price you end up paying. Your dealer will probably have sales targets that they need to meet, and if you want to get the best price then you need to buy between August and February, or end of month, or end of the quarter. Older models are usually being cleared out at this time to make room for new stock. It also helps to visit the showroom on a weekday, as it’ll be quieter so you can get your dealer’s full attention.

As with any new purchase, do your research, and negotiate whenever possible!

Disclosure: Some links are affiliate links that may earn me a commission.