Buying your next vehicle is a big decision. Sometimes it can be overwhelming, and you may not know where to start. Jordan Ford wants to help you out by providing you with these 10 tips to know when you’re ready to buy a car.
-
Know Your Needs
The first thing you should figure out before you buy a vehicle is what kind you need. This is especially important during our current pandemic environment. Are you a small business owner who needs something for personal and professional needs? Maybe you need something with enough room for your family and all their stuff. Knowing what you need your vehicle to do for you will allow you to focus your search.
-
Make A Budget
Buying a car is always a big financial commitment. There will certainly be more to the purchase than just the initial cost. There will be service and maintenance fees, potentially storage costs depending on your current living situation. Once you have an idea of what the full cost of a vehicle will be, you can find a way to fit that cost into your personal finances. While this may seem like a daunting task, you can find handy cost calculators online to start finding out what the long term cost will be.
-
Learn Some Names
Now that you have an idea of what you need and what you can afford do some preliminary research. Look at different models to find out what appeals to you and can fit within your needs. This spans from reading road reviews to looking at dealerships’ inventories.
-
New vs Pre-Owned
The next question you should ask yourself is whether you should buy new or pre-owned? There are pros and cons to both. Some of the main attributes of new vehicles is that you are the first owner and are less likely to find issues with the car. New vehicles also include factory warranties, so you have coverage included automatically. Additionally, you’ll be driving the latest version. However new vehicles usually cost more, and you will lose more value from depreciation after your purchase.
For pre-owned, some of the benefits include lower initial costs and a wider selection of models (generally). Some of the negatives for pre-owned are that they sometimes don’t include warranties with the purchase (consult your dealer) and that there is a higher potential for vehicle issues. -
Figure Out Fuel
Related to knowing your needs, it is important to consider your fuel costs. This is all dependent on what kind of vehicle you ultimately choose. Depending on your driving habits will determine how important fuel-efficiency is to you. In addition to looking for a fuel-efficient vehicle, there are some tips and tricks you can do to help you keep your fuel costs lower.
-
Test-Drive
Once you’ve narrowed down your search it’s time to feel the vehicle for yourself! This can be a bit more complicated when trying to practice social distancing, but many dealerships offer at-home test drives so you can feel how a vehicle drives before you buy it.
-
Financing vs Leasing
When buying a vehicle, it’s important to know how you’re going to pay. Most of us can’t afford to buy a vehicle upfront, so the two primary ways to buy are through financing or leasing. Financing is purchasing on credit. Once you’re done making payments you will own the vehicle outright. Leasing is a payment option where you make payments over a shorter period (3 years is pretty standard) and turn the vehicle in. This is usually less expensive than financing, but you won’t own the car outright at any point. However, leasing is a great choice if you want a newer car sooner.
-
Cover Your Car
As mentioned before, most new model vehicles come with a factory warranty from the manufacturer. Whether you buy new or pre-owned you may want to consider additional coverage to help you with costs down the line.
-
Ask Questions
If you’re ever feeling overwhelmed at any point in the car buying process, ask a question! This is an important decision and you should get as many answers as possible. Obviously, there are a lot of sources online and you can also reach out to the helpful team members at Jordan Ford.
-
Have Fun!
Throughout this entire process, it’s important to remember to have fun! You’re going to be getting a new car so enjoy it.
Connect with us
