How to choose the right type of car for your lifestyle and budget

How to choose the right type of car for your lifestyle and budget

By | 2014-07-29T08:37:06+00:00 25 August 2014|Blog, Vehicle finance|

Whether you purchase new or used, the type of car you choose simply has to be affordable. It is a big expense and can burn an even bigger hole in your pocket if you’re not careful. All that glistens is not gold and it is important to be realistic when it comes to choosing a vehicle that is within your means to purchase.

Things to consider when it comes to your budget

  • New or used car? It really comes down to your lifestyle preferences, financial situation and budget spend. Be clear about what you want to purchase.
  • Are you financially sound enough to make a car purchase without a loan? Do you need vehicle finance?
  • The most important step is to do a little homework about your new or pre-owned cars’ features and specifications. Explore different models and assess whether each fit your desired criteria. Is the vehicle user friendly? What is the probability level of the vehicle being costly to run and maintain?
  • Be prepared to negotiate. There are instances, particularly when purchasing a pre-owned car, that you will be able to negotiate a fair selling price. Many companies inflate prices for their own benefit. Sound negotiation skills will also help put less pressure on your budget.
  • Listen carefully to the salesperson, they do know what they’re talking about. If you’ve done your homework too, you’ll be able to pick up on when you’re being duped. Be sure to remain firm on the specifications you’ve set according to your needs and wants and do not be swayed by other shiny selections.
  • If you are considering a pre-owned vehicle purchase, be prepared to thoroughly inspect your choices. Used does not necessarily mean defective, however, you must be certain you are fully familiar with the car you may end up purchasing. Check the history report of the car. If there is no report, err on the side of caution and don’t proceed further. You need to know all the necessary details of the vehicle you’re looking at. This includes the VIN number, the condition of the car body, interior, tyres and engine. Make a checklist before you assess the car and list your notes as you inspect the vehicle.

Whether new or used, purchasing a vehicle should never be rushed. Impulse purchases can often become larger-than-you-can-afford expenses. Prevention is better than cure when it comes to your financial situation. Arm yourself with all the knowledge you can before purchasing a car. Be sure of what is important to you ahead of time. Once you have carefully assessed a selection, you can then make the ideal choice that will satisfy all of your requirements.  Contact Earn-a-car today if you need assistance with purchasing a used car.