Buying a car is a significant milestone, especially for new drivers. It’s not just about choosing a vehicle that looks good; it’s about making an informed decision that works for your budget and day-to-day needs.
This article aims to guide you through the essential considerations when purchasing a car.
Why is it important to be savvy when buying a car?
Firstly, you should start by identifying what you need from a car. It’s worth considering factors like size, fuel type, and whether you want a new or used vehicle. With the rise in demand for electric vehicles, an EV might be best suited to your needs.
However, you must keep your wits about you and be wary of car garages and dealerships. As a new driver, you could be swindled into paying a much higher price than you need to. Similarly, if you buy second-hand, you could be stuck with a vehicle that has a range of issues.
How to secure the best deal
Don’t be afraid to negotiate the price of a vehicle. Dealers often have a margin of flexibility, especially if you’re well informed about the car’s market value.
Timing can also be everything. Dealerships often have sales targets to meet at the end of the month, quarter, or year, making these times potentially more advantageous for securing a good deal.
Consider financing options, too. Understand the different options available to you and choose one that suits your financial situation best. Be aware of the total cost of ownership, including loan interest, insurance, maintenance, and fuel or charging costs.
Buying a used car
If you’re buying second-hand, be sure to check the car’s history for any past accidents, service history, and previous ownership.
Inspect the vehicle thoroughly. Either bring a knowledgeable friend or hire a professional to check over the used car before purchasing. Pay attention to the car’s exterior and interior condition, and always request a test drive.
Search for a car that isn’t too old, as it may be likely to have issues further down the line. Three years is usually the peak of depreciation for most cars, so use that as a starting point. Try to find a car with a low mileage for its age, too – below 50k miles is ideal.
Insuring the car
Always check how much your insurance will cost before purchasing a new car. Some may be more expensive to insure than others, especially if you haven’t been driving for that long. Additionally, high-spec models are often targeted for theft, which may hike the price of your premium.
Be sure to shop around to secure the right car insurance plan for you. The cost will vary widely depending on your age, driving history, and where you live. Use comparison sites to find the best deal and consider adjusting your excess amount to secure lower premiums.
Checking the condition
Review the car for any signs of damage or wear that might indicate underlying issues. Check the tyres, lights, and paintwork outside, as well as the condition of the seats, dashboard, and interior inside.
You can ask a professional mechanic to check for any mechanical issues that aren’t immediately apparent. This is particularly important for used cars.
A test drive can also reveal a lot about a car’s condition. Pay attention to how the car handles, any unusual noises, and whether all the features work as they should.
