Buying New

Everything in the world is popular by preference. While some people love to drink milk, some people detest it. Some people love seafood, and some do not. Ice cream flavors, egg cookery, and a steak’s doneness are all a matter of personal preference. The same can be said for the purchase of a vehicle when your old one is about the hit the skids, or maybe if you just want something different. When it comes to getting in a vehicle, do you choose a new car, or simply new to you?

We’ve all heard people say they don’t want to buy a used car because they don’t want to inherit someone else’s problems. They also say they don’t know where the car has been. However, with the advent of CARFAX, we can get a pretty good idea as to what the car has been through. Yet some people still hesitate when it comes to the purchase of a pre-owned vehicle, even if the dealership is offering it as a certified pre-owned option. Choosing the right car is your prerogative, but here are some tips and tricks to determine if a new car is the right choice for you.

  1. Determine Your Budget – Are you going to be stuck with less car than you want because you refuse to buy used, but don’t have the budget for a huge car payment.   A car is something that most people keep for several years, so you want to make sure you like it before you commit to it. All too often, people commit to the lesser version of what they want because they can’t afford anything more, yet they scoff at the idea of buying the exact car they desire that is just three years old.
  2. Figure Out Your Deal Breakers – If you’re looking at a new car because it has to have certain features, make sure that you can’t find a one or two-year-old car with the same ones. If a backup camera is a necessity, you may find exactly what you’re looking for in a new car. However, you may also find that same feature in a car that looks almost exactly the same, but has a couple thousand miles on it, and costs a couple thousand dollars less. Determine what you have to have, it may make the choice for you. If it’s relatively new technology, you’re going to want the brand new vehicle.
  3. Know The Facts – If you want to know what a used car has been through, check out the CARFAX report. While it’s not going to tell you everything you may want to know, it will tell you how many owners have had it, and whether or not it’s been involved in any type of accident. Knowing this may help you decide if you’d rather take the used car that will save you a boatload of money every month, or if you want to strap yourself for the next five years.
  4. Ask for Certified – If you think that you may want to jump over to the dark side of the car buying business and go with a used vehicle, ask the dealership to certify it. The certification process will include a hundred-point inspection of the entire car. That’s right, they will go over it with a fine-toothed comb and try to spot any issues that may come up.
  5. Survey Your Priorities – If your old car is costing you a ridiculous amount of money every time a mechanic looks at it, it’s definitely time. Unfortunately, most of these repairs come along at a time when your financial situation isn’t the greatest. During these times, is going for the shiny new toy really the best option? Or would you rather save yourself a hundred dollars a month, or knock a year off the life of the loan by buying a new car. Couldn’t that money be better used elsewhere, or wouldn’t it be nice to have a nice night out, instead of that new car smell?
  6. Consider Depreciation – Depreciation is something you need to think about if you’re buying a new vehicle, as your vehicle will probably have you upside down on your loan after the first year. The thing about new cars is that they depreciate very quickly, while a used car has probably done the heft of its depreciation, and will only slowly decline after the three or five-year mark.

Some people will only buy brand new cars, and some people only buy used and it’s all about preference. However, if you’re on the fence about where to turn, consider the six points made above. If you’re swayed by any one of the six, a pre-owned vehicle may be the choice for you.

 

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