- Posted 09 Dec
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Buying a new car might seem like an easier option compared to purchasing in the used car market, but there are many factors that can affect how good of a deal you get when buying a new car.
Factors to Consider When Buying a New Car
Consider the following factors when buying a new car to ensure that you get the best deal possible:
- What is your budget? We’re pretty sure you already have a fair idea on how much you can afford to spend, but the key is deciding on the maximum price you’ll pay and then sticking to that figure.
What you might not have taken into account, however, is the other expenses that you’ll incur, such as stamp duty, insurance, registration and dealer delivery.
If you’re planning to borrow the money to buy your new car, then it’s best to get this sorted before rocking up to the dealer.
You’ll get a better car finance deal outside of a dealer and you’ll know exactly the amount you can afford to borrow.
- What is the right car? While you may already have a fair idea of the car make you’re going to buy, have you considered the type of car? You want to make sure you have a fair idea of the type of car you’re looking to buy when you walk into the dealership, otherwise you could walk away with something completely opposite to what you actually need.
Think about the type of driving you’ll be doing, what you mainly use the car for and how many people will be in the car from day to day.
Depending on these needs, you might only need a small car that is cheap to run because of the engine size. But if you need a bigger car, then you’ll need to factor in fuel consumption and costs.
- Take it for a test drive. This is a crucial part of the car buying process. You should never buy a car without having taken it for a test drive at least once, if not twice.
You need to make sure that while you’re taking the car out for a test drive, that it has all the features you’re looking for and that it feels good to drive. Often, a car that you’re really interested in can ‘fail’ during the test drive due to riding too harshly or gear changes not being as smooth as you’d anticipated.
Once thing to make sure you do is to ask the dealer what your liability is should you be involved in an accident while you’re test-driving the car. Be aware of what your legally up for should this happen.
Your test drive should last at least 20 minutes, and you should drive on a variety of roads to get a good feel for how it will drive.
If you fall in love with the car while on the test drive, maintain your cool once you’re back at the dealers. You want to have a level head while negotiating!
These are just some of the factors you’ll need to consider if you want to buy a new car the right way and avoid buying something you don’t actually want.
If you need help with car finance or want someone else to take the hassle out of the car buying process, chat to our team at Australian Credit and Finance today.