Buying a new car can be a nerve-wracking experience as often the second most expensive purchase we’ll ever make. But there are some simple things you can do to make the process easier cheaper and get you the best car for your money.
Do your research
First things first. Do your research – there’s no point buying a four-wheel-drive if you’ll never go off-road or a micro if it’ll be mums taxi. So get the basics covered first.
Work out the must-haves before looking at the nice-to-haves.
Don’t borrow beyond your means
It’s too easy to fall into the trap of overreaching when it comes time to put pen to paper. Don’t rely on dealer finance to tell you how much you can borrow go and see your financial adviser before hitting the car yards. And most importantly your budget should dictate the vehicle you buy not the other way around.
Safety is an obvious but often overlooked factor in choosing a vehicle. Modern cars are safer than ever but there’s a big difference between a three star rated vehicle and a five star.
Nowadays there’s a five-star rated car for all budgets and tastes so if it’s not a safe vehicle cross it off your list.
Calculate your running costs
It’s one thing to be able to afford the purchase price but can you keep the car on the road? Ongoing costs such as servicing can vary greatly between manufacturers. Rego increases with engine size and comprehensive insurance is typically cheaper for more common models.Even fuel efficiency can make or break your family’s weekly budget.
Resale value is important
When it comes time to trade in your car you’ll want it to maintain the highest possible value.
Depreciation is the single biggest factor in assessing resale value with luxury and top spec models losing the highest percentage. Keep in mind that the most popular color choices are:
So while the bright purple might be your favorite bear in mind it may be harder to find a buyer when the time comes. Keep these few simple tips in mind and you can make the most out of any new car purchase.