While driving a new car is a lot of fun, shopping for one can be a pain. Throw in a tight credit market due to the unstable economy, and that makes looking for a new car even more frustrating.
But it really is possible to get into a car you will love at payments you can afford. First of all, you need to know how big a payment really fits into your budget. When you are budgeting for you car, don't forget you also have to pay for insurance, fuel, taxes, repairs, maintenance, tax, license, and registration. But once you know how much you can afford to pay, you can move on to step number two.
Secondly, consider how you will use your new car. Will you do mostly highway driving? City driving? Do you need room to haul luggage or equipment, or is passenger room your first priority? Your needs and your budget determine the kind of car you should shop for.
Next, make a decision about whether you want new or previously owned. At one time people bought new cars because they were, usually, more reliable than news. Now there are many ways you and the dealer can pick out the lemons and choose the cars that are in good condition. You still need, however, to have a certified inspection report and access to the vehicle's repair and maintenance history. You especially do not want to buy a car that has had?or, worse, needs?major repairs that are not disclosed to you.
You have two options for budget car shopping. You can either buy a car or lease a car, and that is a decision you need to make before you start shopping. Leasing a car tends to be cheaper because the monthly payments are lower, a smaller down payment is required, and it?s a good option if you trade cars every two or three years. But if you tend to keep cars for longer than three years and can afford a down payment, buying is your better option in the long run. High mileage drivers should also consider buying over leasing because leases have restrictions on the amount of miles you can drive in a given period, and if you go over your allotted miles, then you have to pay extra fees on the lease, which will eat up any savings you may have gained from the lease in the first place.
Regardless of whether you buy or lease, be prepared to negotiate. Get bids on cars from several dealers. Shop around for sales and specials, especially if you are buying a car at the end of the year. Dealers often want to get rid of cars at the end of the year in order to make room for new models. The internet makes it easier than ever to negotiate and shop around for good car deals.
Finally, if you are going to buy a car and need a loan, get preapproved first. Having that preapproval in hand makes you a much more attractive customer to an auto dealer, and that makes them more likely to negotiate with you and give you a good deal.
But it really is possible to get into a car you will love at payments you can afford. First of all, you need to know how big a payment really fits into your budget. When you are budgeting for you car, don't forget you also have to pay for insurance, fuel, taxes, repairs, maintenance, tax, license, and registration. But once you know how much you can afford to pay, you can move on to step number two.
Secondly, consider how you will use your new car. Will you do mostly highway driving? City driving? Do you need room to haul luggage or equipment, or is passenger room your first priority? Your needs and your budget determine the kind of car you should shop for.
Next, make a decision about whether you want new or previously owned. At one time people bought new cars because they were, usually, more reliable than news. Now there are many ways you and the dealer can pick out the lemons and choose the cars that are in good condition. You still need, however, to have a certified inspection report and access to the vehicle's repair and maintenance history. You especially do not want to buy a car that has had?or, worse, needs?major repairs that are not disclosed to you.
You have two options for budget car shopping. You can either buy a car or lease a car, and that is a decision you need to make before you start shopping. Leasing a car tends to be cheaper because the monthly payments are lower, a smaller down payment is required, and it?s a good option if you trade cars every two or three years. But if you tend to keep cars for longer than three years and can afford a down payment, buying is your better option in the long run. High mileage drivers should also consider buying over leasing because leases have restrictions on the amount of miles you can drive in a given period, and if you go over your allotted miles, then you have to pay extra fees on the lease, which will eat up any savings you may have gained from the lease in the first place.
Regardless of whether you buy or lease, be prepared to negotiate. Get bids on cars from several dealers. Shop around for sales and specials, especially if you are buying a car at the end of the year. Dealers often want to get rid of cars at the end of the year in order to make room for new models. The internet makes it easier than ever to negotiate and shop around for good car deals.
Finally, if you are going to buy a car and need a loan, get preapproved first. Having that preapproval in hand makes you a much more attractive customer to an auto dealer, and that makes them more likely to negotiate with you and give you a good deal.
About the Author:
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car insurance portal.
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