Investing a lot of money in an expensive asset such as a car is a big decision. So, before deciding what type of car to buy, you should determine if you necessarily need to buy a new car. That’s because in today’s economy is wise to get the most out of any asset you own.
To decide what type of car to buy you should take a look at your current car and decide which features are the ones that don’t satisfy your needs. Think about the space available inside the car, remember the reliability issues that might have worried you in the past or still worry you and determine the value of the monthly costs necessary for your car’s maintenance. If you want to use the car for family trips you should consider a car with more cargo space in the back and with a better entertainment system to keep your kids preoccupied until you get to the final destination. Fuel economy is also important, because these days the gasoline price becomes higher and higher each day. This list will help you know what to look for in a new vehicle you are attracted to at a dealership and decide if you need to choose any optional features that will definitely require a higher budget.
The second step involves setting a maximum budget you are comfortable with and that will cover the cost of the type of car you would like to buy. If you are willing to trade-in your old car in order to buy another car, you should know that a dealer will offer you a price that represents only 75% of your old car’s market value. If you want to sell your old car for more money you should think about selling it privately.
Once you figure out the budget, you will need to make a list of the car makes and models you can afford and decide if you are going to buy a new or a used car. Even if you have a lower budget don’t completely dismiss the option of buying a new car, because in 2011 you are likely to find very cheap new cars. To be able to choose the best car you’ve added to your list, you will need to read some reviews and take a look at some estimated running and repair costs. These are important details, because your monthly budget should also be in your mind. If after this process you end up with more than one possible choice, the next step you should take is test drive the remaining options.
If you are completely satisfied with one of the cars that remained on your list you should prepare yourself to negotiate a bit the price asked. If the seller refuses to grant a discount, you should walk away and wait for a phone call while looking elsewhere. Many times, a dealer or a private seller will refuse to offer a client a discount because he starts thinking that the client likes very much the car and won’t walk away. That’s why is always wise to act a bit if you want to get a better price.
These are the main factors you should take into consideration when you need to buy another car. The process of deciding what type of car to buy is simple as long as you make that list and decide if you want more interior space even if that means higher fuel consumption or you’re satisfied with a smaller cabin as long as you will have to pay less money for fuel.