So you have decided to buy a new car, good for you. However, before you dive right in and impulse buy the first new car you see, there are a few things that you should consider before investing. Lucky for you we have a simple guide to help you make an informed choice.
Consider Future Needs
Buying a new car can be exciting and we tend to get carried away with gadgets and appearance and look past functionality. If you are thinking of starting or expanding your family then it wouldn’t be wise to buy a three-door convertible. Whether it is in the near future or slightly distant you want to be prepared and not have to give up a car you love in the long run.
When choosing the right car for you, you should focus on its fuel efficiency. Although newer cars are usually more efficient, some are more than others. Finding one that has the best fuel efficiency can be tough. Make sure you do your research before investing. If choosing an eco-friendly car is important then consider purchasing an electric car. The government has announced that they are looking to scrap the selling of all new petrol and diesel cars by 2035, so now would be a good time to invest in an electric car before the rush hits.
Buying a reliable car is what everyone wants, stick to companies that are known for their reliability. It can be expensive buying new parts for a newer vehicle, so choose a car that is less likely to need general repairing often. A reliable car will have advantages such as keeping down insurance costs.
Buying a brand new model can set you back pretty far, so we suggest if you don’t have a lot of cash flow, then you should start saving now. A little money here and there adds up, work out your purchase price and then divide it by the number of months or weeks you intend to buy the car in. For example, if your new car was to cost £10,000 and you aim to buy it in 6 months (26 weeks) you would need to save £1666pm (£384.61pw) plus a little more for tax and insurance.
Do Your Research
Take all of our tips above into account and start doing some research. Whether you are interested in the New Volkswagen Range or a Bently, ensure you choose the car that fits all your current and future needs. Buy from a well-known car dealer and avoid private buys when buying a new model. Also, before purchasing check your affordability to see how much the car will cost to run and ensure you don’t want to outlay all your money and then not have enough left to run it. If money is a little tight, consider getting a car on finance this way you can spread the cost.
While you are here, don’t forget to check out our tips on Saving Money Even When It Is Hard.