how to decide on the right car to buy for your needs
TRANSCRIPT
HOW TO DECIDE ON THE RIGHT
CAR TO BUY FOR YOUR NEEDS5 Factors to Consider Before Buying a New Car
1. TAKE A GOOD LOOK AT YOUR BUDGET
Knowing what you can afford to spend is crucial. What type of payment can you afford that won't
put a bind in your lifestyle? You will also have to take into consideration who will be driving the car
and what insurance will cost. It will be more cost effective to insure a sedan than a sports car,
especially if you have a young driver in your household.
2. KNOW YOUR NEEDS
How many people are in your family? Do you have a large pet or carry large items during your
daily activities? What type of gas mileage are you looking to get in your new car?
Gas efficiency and seating capacity are normally the two determining factors when it comes to
buying a new car. If you use your car to carpool for work, you will need to be able to seat at least
people comfortably. The same is true if you have a large family.
3. RESEARCH MAINTENANCE COSTS
What are the monthly and yearly projected maintenance costs? Regular oil changes, tire rotations
and any other maintenance tasks should be taken into consideration. Do you plan on doing the
work yourself or taking it back to the dealership each time?
Doing the maintenance on your own may save you a few dollars, but it can also void parts of your
warranty. Look into what it will cost to have the dealership perform the regular maintenance and
use that figure as a base for your information.
4. BUYING OR LEASING
Do you want to be able to drive the car for a long time or do
you want to choose a different car in a year or two? Buying the
car gives you the opportunity to keep the car for as long as you
want. Leasing allows you to return it after the lease runs out
and move into a newer vehicle that may better suit your needs.
The price for both is often relatively the same when you add in
the down payment, monthly payment and any fees that are
included at the time of signing, so
determine which works best for you.
5. SCHEDULE A TEST DRIVE
Before you make your final decision, schedule a test drive to see just how well you like being in
the car. Pay attention to how it handles and how you feel when you are driving.