Points to Consider When Purchasing a New Car
Buying a car is exciting, expensive, and a big decision! Whether you choose to buy a pre-owned vehicle, or a brand new car right off the lot, there are certain points you need to consider with any car purchase.
The decision that will affect every other consideration when buying a new car is the price. How much can you afford to spend on a car? How much do you want to spend? These questions need to be answered before you begin looking at your options. There's no point in falling in love with a car you can't afford!
Once you've decided the price you're willing to pay, look at financing options. Have you been saving and have the cash you need to buy a car outright? If you don't, you will need to finance a vehicle with the bank or through the dealer with a personal contract plan (PCP), personal lease or Hire Purchase
PCP financing lets you choose a car you love, and make payments on only part of the cost. The downside to this option is that if you want to keep the car at the end of your agreement, you'll have to pay a hefty final payment. The benefits of PCP’s are pretty great, but make sure you do your research to fully understand how PCP’s work before taking this route.
Since most of us can't afford to buy a new car every couple years, another financial consideration to make is the resale value. Some cars carry great resale values even years down the road, while others will lose their value quickly. For example, a high-end car like a Mercedes or BMW will be worth more in 10 years than compact economy cars will be in just 5. If you are not planning on driving your car until it dies in 8, 12, or 15 years, then thinking about the resale or trade in value is important.
What Do You Need?
Once you have the financial decisions made and out of the way, you need to identify what your new car has to have. A sporty two-seater won't work for your family of five, no matter how much you want it! Do you need the standard features, or does it have to have all the bells and whistles? Are heated seats a necessity for you? What about leather seats vs. standard cloth? Especially when buying a brand new car, be careful of the optional features. These will add to the cost of your car at the time of purchase, but may not add to the resale value. Think about your budget and how much you can spend on additional features before you check out the cars at the dealership. It's hard to say no to noise canceling windows (which are divine!) once you've experienced them.
Dealership Vs. Comparison Site
So, you've looked at financing, how much you want to spend, and what you need in a car. The next step is deciding who you want to buy from and checking out the models! A good tip to keep in mind is that many dealerships only offer one make of a car since they are franchised dealers. That means unless you know specifically what car you’re looking to buy, you’ll easily spend the day going from car lot to car lot looking for what you want. A better option would be to do your research online first and then once you know what you want, narrow it down to 2-3 dealerships and visit each.
Many dealers also have pre-owned vehicles in stock if you choose to buy used. Car lots can be great since the people working there are usually very knowledgeable about the cars they carry and can answer any questions you have. Some dealers offer in-house financing which might be a great option for you. They also have periodic sales events, during which you could score a great car at an incredible price. If you like the attention from sales people and the warranties and options dealers can provide, the standard lot is where you want to go.
Or another option is car comparison sites. They also give you the ability to see all the options and get all the warranties that a dealer would provide. These websites devoted to car sales have popped up and are doing very well, gaining new customers almost every day. Many people have opted to purchase their vehicles this way because of the benefits of doing so. It’s an easy way to compare offers and dealers before proceeding.
You can take your time to research your choices and search for the perfect car without feeling like you have to "buy NOW or miss out on the deal of a lifetime"! There are great bargains to be found when shopping through a comparison site and purchasing is simple. It’s a great way to shop for a car if you’re the type of person that doesn’t know exactly what you want and like to compare and find the best deal. But, the downside to these sites is it’s often hard to test drive before you have to make a commitment to go down to the lot and get into a high pressure sales situation.
The Better Test Drive
As we just mentioned, the biggest component missing from the process of buying a car online is the ability to test drive it. When you use a comparison site, you don't get the opportunity to test drive the cars you are deciding between.
Instead of buying blind, you need the services of DriveTry! It’s the best of both worlds. You get to try out multiple cars and decide which one you like best without pesky salesmen around you trying to pressure you into a purchase.
Here’s how it works:
DriveTry is a one stop shop for you to look at cars. We have experts there to answer all of your questions, but we DO NOT sell the cars. We only answer questions. Once you decide on the car you like, we then help you find the dealer with the best deal. Finally you take your purchase code to the dealer, and pick up your car.
Every box has been checked…
- You get to test drive and see all sorts of different cars
- You don’t have to drive all around town and visit multiple dealerships to find your car
- You still get all the warranties and options from the dealership
- You get the car of your dreams without the hassle.
So, next time you’re looking to purchase a car, skip the car lot shopping and the comparison sites, and come to DriveTry and see how easy car buying can be.