Buying a new car is a big purchasing decision and if you are buying one for the first time, it can be a confusing and daunting process. It’s important that you don’t rush into making a purchase just to get behind the wheel of your dream car as by doing so, you could end up spending more than planned.
You can bring down the cost of buying a car by choosing to buy used or getting a good quality second-hand car from a private seller. Alternatively, if you want to have new wheels straight away then there are ways to get a discount on your new car or to get a better vehicle for your budget.
Here are a few important things to consider when buying a new car:
What sort of engine do I want?
You should look at the cost per km that you think your car will average over its lifetime, and work out whether petrol or diesel is likely to be cheaper for you in the long run. The prices of used cars vary widely depending on what sort of engine the car has. It is worth checking the fuel consumption of any used car you are thinking of buying to make sure that it will be cheaper for you to run than a comparable new one.
What car finance do I need?
Before you start looking at new cars to buy you should do some research on what car finance deals are available for you. It is worth getting some local quotes for car finance before buying a car so that you know how much money you can borrow and what interest rate you will be paying. For example, if you’re based in Tasmania and looking for car finance in Hobart it’s worth calling your local financial institutions as well as checking online.
It is important to do your research first on the best local deals available in order to get the most competitive rate.
What sort of car do I actually need?
You should think about what type of car you want and how much you are willing to spend on a new or used vehicle. You also need to think about your lifestyle, for example: Do I have a large family? Do I want to carry lots of luggage with me? Do I want to tow a caravan or trailer at the weekend? How much space do I need for passengers and luggage in my car?
You should also think about how far you typically travel every day. If your car isn’t going to do many miles then it may be cheaper for you to buy a used car on finance with low mileage rather than a new one.
Are there any safety features that I need in my car?
There are lots of different safety features that you can get on new cars such as dual airbags, an electronic stability programme (ESP), side and curtain airbags. You should think about what sort of road conditions you typically drive on and think about how these different safety features will help you if you need them.
It is important to make sure that you are aware of all the different considerations when buying a car so that you don’t end up spending more than necessary. By preparing well, you can get the car that suits your needs and lifestyle most appropriately.
