Buying a shiny, sleek car is a dream for most people not just, for its utility but for the statement one makes with it. So what should you look for when buying either a brand new car or a used car? There are many factors, which determine whether your investment will become an asset or a liability for you. As the monetary value of a vehicle generally depreciates over a period of time, it only becomes an asset if it is as reliable as our politicians are not and if it is relatively maintenance-free. Moreover, your car can be as fanciful as your budget allows but if it fails to fulfill your utility demands then it will definitely be unsatisfactory in the long run. With the huge choice available in the market today, and the alternate energy vehicles also vying for market share, making a decision becomes all the more difficult. However, keeping a few things in mind can definitely help you make a satisfied owner of a car. Here are a few tips and pointers, which can help you, pick the perfect car for you.
Buying A Car
Tips For Buying A Brand New Car
Budget And Finance
- The first thing, which you must examine, is your budget. Once you have put a cap on the amount you are willing to spend, you must figure out your payment options. There are only a few people who can pay outright for a car. Majority of the people must see what payment plan would be convenient for them. Getting a car loan is easy these days and you can go in for a deal, which is best suited to you.
- It is best to avoid finance through the car dealerships as they charge higher interest. Banks and independent car finance companies offer the cheapest interest rates.
Take time to evaluate your needs and go for a car, which fulfills all your demands. Important things that you must take into account are:
- Space requirements for people and luggage. A small car is convenient in parking but if you have to accommodate more than 5 people or a lot of luggage then it doesn’t serve your purpose.
- Whether you intend to use it within city limits or cover long distance journeys in it.
- The features which matter to you, like the air-conditioning, safety, power, mileage, automatic/manual transmission, design features etc.
- The fuel, which the vehicle uses. These days you can choose from various options like petrol, diesel, natural gas, bio-fuel, hybrid (using electricity and petrol) and electric vehicles. Every technology has its pros and cons so your choice must depend on expert advice.
Choosing A Brand
After the segment and kind of the car you prefer has been decided upon depending upon your requirements, browse through the models of various companies. Even if you favor a particular brand, look at the alternatives; you might find a better deal.
Choosing A Dealer
- Get well informed about the market prices of the car you want before finding a dealer. This way you will know which dealer is trying to dupe you.
- Visit many dealers and find out about their services, past service records, any discounts, promotional offers, freebies etc, they have on offer.
- Negotiate with a dealer well stocked with the car as he will be more willing to give discounts
- Plan your finance in advance but negotiate with the dealer without telling him about it. Dealers offer lower prices thinking they will make profit by providing the finance themselves.
Make sure that you test drive the car you want and check all its features. The handling, braking, speed etc, must be tested.
Tips For Buying A Used Car
Buying used cars has its pros and cons. The prices are definitely cheaper than a new car and sometimes a car, which has put on a few thousand kilometers, runs better. However, the downside is that you might end up with a car, which has been handled poorly and become a maintenance problem.
- Need, budget, and financing are always a priority when buying a used car. So figure that out first.
- Check the internet for used car portals as they find out the availability of the car of your choice at a place near you. Classifieds and used car dealers are other options to look for a car. A dealership is preferred as they provide some warranty and services.
- Always research about the advantages and disadvantages of the car of your choice as a used car.
- Check the details of the history of the car like age, distance travelled, the original papers of the car and number of ownerships.
- Check the exterior and interior conditions of the car and also the engine.
- Test-drive the car till you are happy with its performance.
- Since it is a used car, find out its market price and depreciation in market value. You can then negotiate heavily till you are satisfied.