With the incredible offers being made by car dealerships and unprecedented fuel economy in all vehicles, it would seem that it is the perfect time to buy a newer vehicle. For years financial advisors have recommended against purchasing a new vehicle, pointing out that a new vehicle instantly loses up to thirty percent of its value just be being driven off the lot. However, this is not a typical economic climate and many dealers are offering purchasing options that make many new car less expensive than a certified pre-owned or one year old version of the same model. This makes it an excellent time for vehicle purchases, as low costs allow what a customer wants and what they can afford to overlap. That being said, whether ultimately buying new or used, there are ways in which one can simplify the buying experience.
Many customers immediately go straight out to dealerships when they have decided to buy a new car. Without being properly informed, the buyers are at a distinct disadvantage as they will have no choice but to trust everything the dealer says. Even if the dealer is telling the truth, there will still be disadvantages to vehicles that aren’t mentioned. Knowing a car’s resale value, MSRP, upkeep costs, and dependability are all crucial before purchasing any car. Also, one must properly research their own financial situation. There are many variables in both the cost of living and financing a new car, and overstepping one’s financial bounds on a large purchase could have serious consequences.
Test Drive, Test Drive, Test Drive
Nearly any vehicle one test drives will perform better than their current car. It is important for customers to test drive every vehicle that they have determined fits their needs, not just the ones they think they will prefer. Companies like Ford and Chrysler have made major strides recently in design, safety, fuel efficiency, and handling, so buyers should forget whatever biases they have from the past and see what each company has to offer. Customers should test drive a minimum of five vehicles, and it is recommended to test drive around ten. This can be time consuming, but when investing thousands of dollars in a new vehicle, it is a necessity. Also, when driving that many new or slightly used vehicles one becomes more familiar with the strengths and weaknesses of different models. This gives a customer a greater understanding of what they are purchasing and allows them to buy with confidence.
Sleep On It
Customers should never buy a car on the same day as a test drive. The wonderful feeling of knowing one has found the perfect car, can cloud judgment and take away one’s negotiating power. The car is not going anywhere, and an extra day spent considering the pros and cons of the purchase or re-test driving one’s second favorite vehicle can be immensely helpful.
Once a customer has completed these simple steps, the only thing left to do is buy. It is still a daunting decision, no matter how much research and how many test drives are done, but customers should trust all the work they have done and confidently purchase their perfect vehicle.