How to buy your right new car
If you’re planning to buy a new car, take some time to do your research before heading to the showroom. Buying a car is typically the second most expensive purchase anyone makes, next to buying a new flat! Making such a large financial decision in a weekend simply increases the chances you’ll be unhappy in the long run. Follow these tips to make sure you buy a car you can afford and choose a model that you’ll be comfortable driving for years to come!
Determine your budget
While cars come in all price ranges, they are still one of the most expensive purchases you will make. So, it’s important to be sure you can afford it. A good rule of thumb is to budget no more than 25% of your monthly income. Your calculation should include your monthly auto loan payment as well as expenses like fuel and car insurance.
Narrow your list to a few cars
A few cars probably have caught your eye. Start by researching those to see if they fit within your budget. Visit the automaker websites and independent auto information sites to assess the cars’ features and get an idea of inventory available in your area. Don’t forget to note the manufacturer’s suggested retail price and invoice price. Choose cars that are at least 5% less than your monthly budget to give yourself some room to cover your expenses, including gas, car insurance, repairs and maintenance. But don’t rush for a test drive, yet!
Don’t rush for the test drive
Now that you’ve done all your research, you are ready to visit the dealership for a test drive. Since you are likely going to keep your car for 3 years or more, don’t hesitate to ask for more time behind the wheel to ensure you like the driving experience. Also, take extra time with the car parked to adjust the seats and experiment with the controls and make sure all of your typical passengers are comfortable and any regular cargo fits well.
Make a smart decision on selecting car insurance
When you are ready to buy a new car, be sure to do the research for car insurance also! It’s not only a compulsory action for every car owner, but also something to secure and enhance your overall driving experience. While there’re plenty types of car insurance policies available in the market, comprehensive car insurance policy would be a great choice as a protection for both you and your passengers. And those insurance companies which are specializing in car insurance will be even better as they realize more about what a car owner needs.
For more details about the protection of your car on the road, feel free to visit the car insurance page of DirectAsia.