3 Things to Research Before Your Next Major Vehicle Purchase
Buying a new vehicle can be stressful. It’s a major purchase that often comes with a large monthly payment. And most people stick with their cars or trucks for about six years, according to research from R.L. Polk. That’s a long time to be stuck with something that might not be right for your family. So, it’s important to do your homework before you step into the car dealership.
Still not convinced? Here are a few more reasons to do your research before you make your next major vehicle purchase:
Decide on new or used
The allure of driving a brand new no-mileage car off the lot is strong. It’s so strong, in fact, that many people go home with a new car when they probably should have bought used.
In truth, there are pros and cons to both.
The pros to buying a brand new car include:
- No previous owners
- Require less maintenance
- More options for customization
- Often better financing rates and incentives
The pros to buying a used car include:
- Lower overall price
- Lower monthly payments
- Comparatively lower depreciation rates
Comparison shop and save money
If you have done your research and know exactly what type of vehicle you’ll be taking home, research prices thoroughly. Consider using TrueCar to find out what people in your area are paying if you’re buying new. If you’re buying used, check the NADA or KBB value.
Most people don’t pay the sticker price for their vehicles. Automobiles are one purchase that is almost always negotiated. And if you want to be sure you’re getting the best deal, know what you’re willing to pay before you enter the showroom.
If you’re buying a used car, it’s also important to research the source. You may get the best deal from a private seller, but you may not get any warranties. If you’re buying from a used car dealership, find out what kind of warranties they offer on your car, if they offer any.
Make the safest possible choice
If you’re going to use this vehicle to transport your family, you’ll want to be sure it’s the safest car your money can buy. You can compare new and used car safety ratings by year on sites like Edmunds and J.D. Power.
Safety is often the most important consideration, and the results you find may change your mind. Let’s say you have your heart set on one make and model, but when you find out it’s on the bottom rung of the safety ratings, you rethink your choice. These things happen all the time, but it’s up to you to do the research.
Most car dealers work on commission, so they aren’t likely to point out the potential faults in a car you’re seriously considering. It’s up to you to get all the details beforehand and make the best possible decision for you and your family.
It’s fun to pick out a shiny new car with all the trim options, but car buying can also be a lot of work. It’s a major purchase that requires some work on your part. But if you do your homework, you can be sure you’ll get the best vehicle for your family at the best possible price.