When it’s time to buy a new car, it pays to be structured in the manner you go about selecting a car. If you just go to the nearest dealership and pick the car you like the most, it could leave you with a high monthly repayment for a car you don’t enjoy driving. Fear not though. Alpha Direct Insurance company has created a 6 step guide to finding the right car for your budget and your heart. You can always get a free insurance quote on your car by visiting our quote request form, or by contacting our call centre at 392 8264
Step 1) Assess Your Needs
While you might love dreaming about what you want in the perfect car, it’s best to think more practically about what your specific needs are. Functionality is the most important aspect. Some practical tips to consider include:
– What type of driving do you do: highway, surface streets, off-road?
– Is fuel economy important to you?
– What safety features are important to you?
– Do you need a big boot?
– Will you be doing any towing?
Step 2) Determine your Budget
Unless you’re paying cash for your car, you’ll need to think about getting a loan from a bank. Determine how much you actually afford for car payment each month? In general, the right amount to allocate is no more than 20 percent of your monthly take-home salary.
Step 3) Decide on a Class of vehicle and check your options in that category
You first need to determine whether you want to go for a new or used vehicle. The advantage is that the same amount of money usually allows you to go for a used vehicle of a higher class than a new vehicle. Consider all your options in both categories.
Step 4) Determine the Total Cost of Ownership of your prefered vehicles
Used cars may be cheaper to acquire, but will attract a higher maintenance cost. Some rare used Japanese import cars may be more expensive to repair and insure in the event of an accident. Some new cars will come with a motor plan, while others will not. Higher end cars, such as some German vehicles may be more expensive to maintain in the future. Remember more expensive vehicles, cars with bigger engines, and hijack prone vehicles may be more expensive to insure.
Step 5) Find cars available for Sale
You can search for new and used vehicles available for sale from most dealership’s web sites, or by making a trip to the dealerships over the weekend. Be sure to test drive the vehicles you like, and which are within your budget and class preference.
Step 6) Buy the car
Before you visit the dealership to buy your car, have your options ready, and inquire with your bank about finance pre-authorization. Make sure you always negotiate with the dealership, and only buy the vehicle if they meet you at a price that you are comfortable with. Otherwise, do not hesitate to walk out and consider the second option vehicle.
Good luck with your vehicle shopping!