January 25, 2015 Admin | January 25, 2015 When considering buying a new or used car, what should you consider BEFORE buying?
4 thoughts on “January 25, 2015”
You should consider how long you plan on owning the car. You should think about what your future plans are, lime are you going to have kids and you will need a bigger car. You should determine how much you are willing to spend before going to the dealerships. You can’t let them talk you into buying something else or spending more than you planed. You should really consider if you need a new car or you do you just want a new car. You should think about the other fees and taxes that come with a car before you buy it and have that be part of your budget.
You should always look at the registration cost of the car before you buy it. You will want to know what you will pay a year for that. You will also want to know what the insurance cost will be around for that type of car. You will also want to get the car checked out by a 3rd party mechanic if its a used car. You need to think about weather you need this vehicle also. Are you just buying a car because your tied of your old one or do you need one because you dont have one to start with or is broken. Dont get caught up in a car as a status icon when it is just something to get you around from point A to point B, and sometime point G, L, Z, M if you are with people who dont know where they are actually going when shopping.
When considering the purchase of a vehicle, you must think of it in terms of an investment, or the lack of. You must understand what the vehicle you are interested in is worth and what its future value will be. A vehicle will lose value over time. Knowing that nearly all vehicles lose value over time, you must understand the points at which the greatest loss in values occur. this happens when the vehicle is new or nearly new. Therefore as with everything you purchase, you are trying to minimize your losses so that you can be prepared for your future. By buying a vehicle that is 4-5 years old or older, the vehicle will already have experienced its greatest amount of depreciation. In addition to being concerned about the value of the vehicle when you purchase it and future values of it, you must also understand the costs that go into the vehicle such as fuel costs, maintenance, insurance, license and registration fees. These costs vary widely by vehicle type and need to be understood before buying. Another consideration before buying is how you will react to the sharks (salesman) at the dealership. They will try to upwell you to a vehicle which they will make more commission on. You need to be able to say no. An additional problem with going to a dealership is that they will try to sell you extended warranties and high priced accessories for your vehicle. You should stay away from theses items. Finally the last thing you need to consider is that you should only pay cash for a vehicle and not finance it. This will save you interest on an asset that only depreciates in value.
Well said, everyone. Let’s review.
(1) Always consider your costs before you purchase the vehicle. This would include insurance, taxes, registration, fees, etc.
(2) Consider the yearly maintenance costs when buying as you compare the old vehicle with the new vehicle.
(3) Consider why exactly you are buying. Do you need a newer car or are you just bored with the old one. Buying because you are bored is a pretty piss poor reason to buy.