By Hanningtone Gaya
When you go to a car dealership, the point is to leave with the best car price. Don’t get taken for a ride. Any potential car buyer knows that looking for a new car is not that a simple.
Furthermore, different people embark on selection in different ways. There are those who ask others for advice and options, those who can thoroughly research each model in their price range, and still others who impulsively buy the first good-looking car that catches their eye, new or used.
When looking for a new car, there are many factors to consider. The most obvious one is the price. Ideally, any potential purchase should not exceed one’s financial ability, unless one doesn’t mind an unexpected visit from the auctioneers. Another equally important factor is lifestyle. Every man and woman can see themselves in one of the many dream machines that are on the market.
The tip is to combine the desire for sleek and sporty good looks with good pricing and fuel consumption. One needs money to pay for petrol. This might sound easy enough; buyers should realize that it’s highly unlikely that they will be able to pay Corolla prices and drive in Porsche style.
Therefore early on, the decision must be made to prioritize what one wants from their new car. The consumer should list their needs for an ideal price, size, and look and safety record before walking into a showroom.
It’s important to accurately assess one’s needs and requirements for a new car, be it family accommodation, economic value, reliability or flashy hot looks. Once a buyer has a good approximation of what he or she is looking for, it is then time to match up available models with those consumer ideals and look at each one individually and systematically.
Word of mouth does play a key role in any buyer’s prospects, having heard of a friend’s satisfaction with their new car or through survey reports and motor magazines. However how informative people’s testimonials may be, there is no substitute for a hands-on personal inspection of the cars you are considering. This hands-on evaluation of the car should include personal test drives on both urban and rural roads and under various weather conditions if possible, so as to get a feel of the car that you may be living with for the next five years or more.
An inquiry into the average cost to keep and maintain the prospective car should also be conducted. Included with this, is the price to fill the fuel tank, regular tune-ups, minor repairs and possible replacement of the serviced parts. On this point, it follows that the purchase of an extended guarantee is usually prudent. In addition, the resale value of the particular car should be looked into. Some cars hold their value much longer than others, after several years of careful use.
STEPS TO BUYING A NEW CAR
1. Research vehicles and features
2. Get preapproved for a loan
3. Plan your trade-in
4. Locate and test-drive the car
5. Check sale price and warranties
6. Review the deal and dealer financing 7. Close the deal 8. Take delivery
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Once the car has been inspected and subsequently chosen, the next step is to weigh the options of cash purchasing, or financing. This decision depends on how much money one has available for this sizeable purchase. Most banks have specific car purchase loan products that also include comprehensive motor insurance.
Those who earn a substantial salary may choose to place a large down payment on the car and pay the difference over a few years, usually from 6 to 48 months. Depending on the prevailing interest rates, these options are often more viable for most people than slapping down 2 to 4 million in cash. Look at any purchase; there are often hidden expenses to a new car, such as automobile insurance, legal fees if one is borrowing and numerous bank charges.
While these must be factored into the final cost of the new car, there is still the matter of little extras that are suggested but not needed. It is important to be wary of car salesmen who try to sell things to unsuspecting first-time car buyers, that are really unnecessary but to the salesmen, they are important.
Such “must-haves” include, but not limited to, expensive fancy spare-wheel covers, superior music sound systems, factory alarms, expensive performance tyres and extra riot insurance.
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It is prudent to note that buying a car should not be a speedy process. The purchase should involve time and research. A person who gets to one dealership and drives off the lot in their new car that same day will probably have paid more for that car than if he or she had taken their time, shopped around and found a good deal involving a blend of desired options at reasonable prices.
It is also important especially for brand new purchasers to seek answers to the following questions:
What are the financing cost/options?
What are the options available with the car?
What are the available colours?
What is the delivery cost?
How does the car perform?
What kind of warranty does the car have?
What are the given models and at what prices?
Which are the features needed and which are not compulsory?
It is important not to be shy about asking questions: after all, you’re going to have an endearing relationship with whichever car you select, so you might as well make it worth your while. These tips are important whether one is buying a new car from a regular car franchise holder, dealer or the various used car lots that now dot our roadsides country wide, some to the rhythm of fast foods and loud music, all meant to pressurize you into a quick buy.
