There is a lot of debate on whether buying a new car is better than a used car. While it may seem like the majority are for buying a used car, there is also a majority that are for new cars. People who buy new cars do so with specific reasons in mind. Some of which include reliability, long-term cost, interest rate, insurance, mileage, and even new-car smell. Here are 6 tips to guide you when buying a new car.
1. Do Your Research
The moment you decide you need a new car, the first thing you should do is begin your research phase. Cars are long-term companions. As such, they need to be carefully selected. Determine what brand you need. In the first quarter of 2019, a British report showed that Ford was the best-selling car brand in UK. It was followed by Volkswagen, Vauxhall, Mercedes-Benz and BMW. Whether you decide to buy a Ford for your next new car or a BMW, do your research to understand the vehicle market, the pricing, the various models, reviews, trade-in options, and everything you can. It will come in handy.
2. Shop Around (Avoid Impulse Buying)
When you understand the market, begin to shop around. Make good use of the internet and delay going into any dealership until you have narrowed down your options. Car salesmen have a way of encouraging impulse buying. Most dealerships have a website. Use that instead for browsing.
3. Be Patient
Now that you have found the car make and model you want to buy, you may begin the negotiation process. If you are not good at negotiations, go along with someone who is. Anchor your budget and resist any temptations to go a little over budget by justifying that it is a new car. Be patient. If you do not get your preferred price, wait until the end of the year when salesmen are pushing to meet their quotas. Alternatively, have various dealerships bid for your business. That should bring the price down.
4. Beware of Insurance Premium
Some prices may seem fair and reasonable at first glance. Beware of insurance costs. Typically, sports cars have higher insurance than regular cars. The insurance premium for a year coupled with the cost of the car can take you way over budget. Use the internet to shop around for favourable insurance rates online.
5. Ignore the Add-on Features until Later
Add-on features make cars seem even cooler. And car salesmen know this. If you are not prepared, you might be taken off guard by such tantalizing offerings. If you must, delay getting any add-on features until at least 6 months after buying the car.
6. Test Drive
Take your chosen car for a test drive before sealing the deal. Press all the buttons, flips the switches, check your views, and gauge the sensitivity of the breaks and steering wheels, and the comfort of the chairs. Some people have large hands and find it hard accurately flipping switches and buttons, or find the wheels and pedals too sensitive. Check everything.
The rule of thumb to remember when buying any car is to be patient. Use the 6 tips above to guide you. And if you need help, consult a professional who has nothing to gain or someone with experience.
