Things to Consider When Buying a New Car
- Mateo
- Mar 27
- 4 min read
While you may love your car, there comes a time when you need to replace it. Whether that be because you were involved in one of the 397,620 car accidents that occurred in Florida in 2022, the costs to repair your current one outweigh the vehicle’s own value at this point, or you simply need a change and can afford it, you need to take this process seriously.
Vehicles of any kind are a massive purchase whose cost must be paid off for a few years. If you get the wrong one for your needs, it turns out to be uncomfortable, or it starts breaking down too early into its life span, you’re stuck with it for quite a while.
The information below will hopefully help you avoid these negative consequences of buying the wrong car by helping you know what to watch for as you peruse what your local dealership has to offer.
Try Carefully Researching
Not all vehicles are created equal, so to find the best one for you and your needs, do some research. Start by considering what you’ll use the vehicle for. For example, if you need a car capable of holding your children’s sports gear as you take them to and from practices and games, you may want something like a van.
Should hauling things be more your style, then consider a pickup truck. A regular car should be fine for those just seeking to get to and from work. Once you know the type of vehicle you need, start looking into your preferred brand’s makes and models. Then, see what the owners of the vehicle think about it before also seeking out expert opinions. Bear in mind that newer vehicles will have fewer reviews and have less real-world testing than older ones.
Once you’ve got all of your information together, search the website of your local dealership and see if they have the vehicle you want at their lot. If they do, then you can start taking the next steps in your vehicle-buying journey. If not then you may need to either choose a different vehicle or search a different dealership until you find what you’re looking for.
Know Your Limits
As you search for your new car, you need to take one massive part of the process into account: cost. To do this, make a budget to determine how much money you actually have to spend on it.
Find what your take-home pay is, list your various payments from bills to other debt payments, and subtract them from that pay. Subtract a small number from this as well to consider emergencies and you have the amount of money you can spend on payments for the new car.
However, this number misses out on a few other payments you’ll need to consider, from gas to insurance. If this starts to get confusing, look online for budgeting and car patent calculators to help you wrap your head around the numbers a bit easier.
If your budget is pretty tight and you don’t see yourself needing the vehicle long-term, then consider leasing one. The payments will be smaller per month, but you’ll have to return the car at the end of the lease. It can be useful in a pinch, though, so keep it in the back of your mind during your search.
Remember Insurance
When buying a car, there’s one expense that typically is ignored or overlooked: insurance. Everything from the age of the vehicle to its color can affect your insurance payment and likely drive it up.
While newer cars may decrease the payment due to the safety features they provide, the risk of theft, higher repair cost and the difference between their actual value and the value on the lot may also affect your rates. For example, the actual value of your car is very different from what you paid for it thanks to a thing called depreciation.
Basically, over time your car will rapidly lose value, and it starts the second you drive it off of the dealership’s lot. While this difference can make insurance payments cheaper, it will make any payouts smaller as well, potentially leaving you to fill a large monetary gap yourself.
If you’re not sure how your insurance payment would be affected by your new car, then jump on your computer and find an insurance calculator. While it may not be completely accurate, it will help you understand what your future premiums may look like.
Check it Over
Before you say yes to any car, you need to check it out. This doesn’t mean to adore the color or the material of the seats but to pop open the hood, crawl under it, or do whatever else you deem necessary to make sure the vehicle is in tip-top shape before you buy it.
Vehicles with obvious damage, leaks or any other issue should be avoided, as they’ll only give you an expensive problem to solve. If the damage is too obvious it may be wise to move on to a different dealership. Also, if you can, verify a vehicle’s history to know whether it's been in any serious accidents. If so, consider a different car.
Test Drive
The last thing you should do before you purchase a vehicle is to take it for a test drive. This can reveal any hidden issues, tell you how it handles and whether or not you like driving it in general. Strange noises or awkward handling are signs of a major issue and should cause you to question the dealer about them.
However, if you have a calm, comfortable ride, know the car fits into your budget, and your research has turned up positive findings, then it may be time to sign the dotted line. Before you fully commit, though, give the interior a thorough look-over while you’re sitting in it. You can never be too careful with a purchase as large and important as this, after all.