If you are new to purchasing a car or haven’t purchased a vehicle in a long time, it can be daunting to know where to begin. But, how do you find a car that will suit your exact needs for the years to come? Well, we’ve put together a guide that will help you buy the perfect car.
Step 1: Know Your Needs
The right car for you depends on what you expect from the vehicle. For instance, if you want to make a statement with your car, you may want to opt for something flashy. But, if fuel efficiency is a priority for you, you will likely want to opt for a basic hatchback or sedan.
Step 2: Set a Budget
Unless you are paying in cash for your car, you will need to think about getting an auto loan. And, that involves working out how much you can afford to pay every month toward the loan. The general rule is that your monthly payment should not exceed 15 percent of your take-home pay.
Step 3: Decide if You Want to Buy or Lease
While buying a vehicle may sometimes be the better choice, other times, leasing may work out to be more affordable. Keep in mind that leasing requires you to put little to no money down and most times, your maintenance and repairs are paid for by the leasing company.
Also, when you lease a car, you get to drive a more expensive vehicle for less money. However, buying does allow you to modify the car as per your needs and you have the flexibility to sell the vehicle whenever you want to.
Step 4: Shop Around
Do you have your heart set on a certain car? Well, many car shoppers do, but that doesn’t mean you should limit your choices. In today’s marketplace, there are new cars hitting dealerships often, so make sure to shop around, compare your options, and pick a vehicle that suits your requirements and budget.
Step 5: Test Drive
Once you find a vehicle you like, make sure to test drive it to ensure it handles and drives the way you expect it to. You can then go ahead and finalize the purchase.
