As much as you may love your current vehicle, if it is getting old and costing you more and more to repair every service, then it is time for you to consider investing in a new motor. Cars lose value as soon as you drive them off the garage forecourt, and this means that you instantly make a loss on any investment that you make. However, this should not impact your reasoning for investing in a new vehicle. Newer makes and models are designed to meet with today’s modern lifestyle choices, with improved parking sensors and safety features to keep your entire family secure while you are on the road. Therefore, if you are looking to buy a new car then make sure that you take the following into account before you invest in a new motor.
If your car is rusty, damaged or there are ongoing problems with the motor, then this is a sure fire sign that you need to invest in a new car. Firstly decide if you are going to need to take out a car loan, or you can afford to buy without any extra financial aid. If you are looking to buy a car on credit, then you will also need to make sure that you can afford the monthly loan payouts on top of your insurance and tax costs. Check your credit score before you visit any dealer, so that you are ready to start shopping right away. Next, write up a checklist of what sort of car will best suit your needs. If you have a large family, then you may want to invest in a larger vehicle to accommodate your kids and pets. However, if you are looking for a city run around then you will want a small and snappy motor to help you get from A to B. Once you have decided exactly what you are looking for, then you can begin to start browsing and shopping around.
Time of year
Believe it or not, the time of year that you decide to start shopping for a new motor could have an effect on the price of your car. If you are looking to shop in the winter months, then dealerships may increase their prices in the run-up to the holiday season, while the summer also sees a spike in new car owners, desperate to bag a bargain. This makes the autumn and spring months the best times to begin your search in earnest. If you are looking to get a serious deal, then consider doing your car shopping early at the weekends and towards the end of the month, just before payday. You will also have a much better chance of finding a salesperson that is desperate to make a sale to meet with their end of month targets. It pays to go shopping when the weather is colder, or it is a rainy day, as dealerships will be more likely to want to drop costs to make a sale to compensate for reduced footfall on the sales floor. Choose your time of year wisely, and you are bound to find a bargain.
Do your homework
It pays to take your time and do your homework before you look to invest in a brand new set of wheels. Make sure that you research and do not limit your search to just one brand or make of motor. You could rush into a bad deal and feel pressurized to part with your cash when holding out could result in you buying a better vehicle. Be sure to prioritize your everyday needs and use and remain realistic. Remain practical and make sure that you visit as many dealerships or car salesrooms as you need. You may soon be pleasantly surprised and end up buying a make or model that you have previously discounted. Include all overall car running costs in your initial homework calculations also, as you will need to include more than just the purchase price and financing costs. You should also include your insurance and estimated running and gasoline costs in your pricing too. Remember that you may need to include a buffer for hidden wear and tear costs, and always keep some money aside in case you need to perform additional maintenance. Do your homework, and you are less likely to be stung later on in the year after you drive your new wheels home.
Your old vehicle
When you are buying a new car, you also need to include your previous motor in any costs or budget that you set aside, in particular, if you feel that you need to scrap or get rid of your vehicle in the most environmentally friendly way possible. If you want to make the best economic choice possible, then you could consider the value that is left in any parts of your previous vehicle, but this will be impacted by the amount of wear and tear that it has undergone. You may be able to make some sort of profit by selling your old car through a private sale, read more here. Do not discount your old car in your equations, as you may also be able to make some money from it that will help towards your next purchase.
If you are looking to buy a new car, then it is vital that you remain realistic as to what sort of make and model of vehicle that you can afford. Consider the time of year that you begin car shopping, and choose your hours and times carefully so that you can bag a bargain. Make sure that you do your homework so that you have a realistic idea of how much you will need to spend in total, including road tax, gasoline and any costs incurred from wear and tear. Finally, do not forget your old vehicle either, as you may also be able to make some money from it. You will soon be ready to enjoy your new wheels.