You may know that you need a new car, but you may not know exactly what type of new car you need. And if you’re not an automotive expert, you may not even be sure what you should consider as part of this process. However, with some forethought and preparation, you can identify and explore the most important factors for finding the right car.
The Difficulties of Finding the Right Car
Finding the right car isn’t as straightforward as it might seem. Hundreds of different types of vehicles are available, and even more, if you’re willing to consider used options. The right car isn’t just something that fits your budget, and it’s not just the “best” in a given category. Instead, it’s a vehicle that meets all your minimum requirements, gives you as many options as possible, and stands above the competition.
Even experienced car buyers sometimes end up with buyer’s remorse, wondering how their life might be different if they had chosen a similar option from a different manufacturer or with a different set of options. There’s no way to eliminate the possibility of buyer’s remorse, but with sufficient planning, you can significantly reduce it.
The Most Important Considerations for Finding the Right Car
These are some of your most important considerations when looking for the right car:
1. Your budget.
Obviously, one of the most important things you’ll need to consider is your budget. If you have a limited amount of money in your bank account or can only afford car payments under a certain threshold, you’ll need to be careful about which car you buy. Remember that even if you can technically afford something, it may not fit your budget; paying too much for a vehicle can compromise your ability to handle your other, more important financial obligations.
2. Financing options.
Just because you can’t pay cash for a vehicle doesn’t mean you can’t afford it. Chances are, you have multiple financing options available, allowing you to take out a loan for the vehicle you want. However, if you want to feel confident moving forward, you’ll need to carefully calculate the impact this will have on your budget and personal finances.
3. Insurance.
Get a few insurance quotes before finalizing your decision. Some vehicles are associated with higher insurance costs than others.
4. Fuel efficiency/fuel costs.
Whether you’re interested in reducing your negative environmental impact or just want to save some money, it’s a good idea to investigate fuel efficiency and fuel costs associated with each vehicle. What kind of gas mileage does this vehicle get? How might that change? Is there an electric or hybrid option?
5. Utility and performance.
What core features do you need in your vehicle? What category of vehicle are you going to use to start your search?
6. Safety ratings.
Laws and regulations hold cars to minimum safety standards, but some manufacturers go out of their way to exceed these expectations. Depending on your goals and priorities, you might want the safest possible vehicle, given your budget. Review safety ratings and test results thoroughly to gauge the relative safety of each vehicle on your radar.
7. Manufacturer/model reliability.
Is this manufacturer known for their reliability? Do these vehicles generally perform well for many years? You can look at user ratings and reviews online to get an idea of each manufacturer’s reputation.
8. Trade-in options.
If you have a current vehicle, you might be able to trade it in to reduce the total amount of money you pay for the new vehicle. What trade-in options do you have, and how might this influence your spending power?
9. The test drive experience.
It might seem like there’s a perfect vehicle out there, but you won’t know if it’s the perfect fit until you drive it for yourself. Be willing to test drive your favorites before making the final call.
10. Add-ons and extras.
If you’re buying new, you’ll likely have lots of high-tech add-ons and upgrades to consider adding to your vehicle. Even if you’re buying used, you may have multiple variations of a single model to choose from. Accordingly, you should carefully consider which add-ons and extras might be worth the money.
Finding the right car takes time and effort, but if you’re willing to make the investment, you can ultimately find a better vehicle. Once you’ve gone through the process once or twice, you’ll have more experience that you can use to make future searches even more straightforward.
Image Credit: Photo by averie woodard; Unsplash
