Buying a car is an exciting and important event in a person’s life. In order to make the best choice and buy a car that will provide the greatest satisfaction for the investment, the buyer should go through a simple process of considering several important questions. While it might not be as much fun as going for a test drive, before ever going to a car dealership, some basic boundaries must be laid out first.
Maybe the most important thing to consider when buying a car is how much money is available for this purchase. A realistic, conservative dollar amount needs to be established so that the buyer will know he is not getting overextended on his finances. It’s critical to remember that the cost of owning and operating a car includes much more than just the purchase price on the window. If the buyer needs to take out a car loan, there will be added interest charges, and the interest rate will be based on his credit rating. Slow payments on other bills, not having a lot of disposable income after housing and other living expenses are factored in, or not having much credit history, can all cost more in terms of a higher interest rate. In addition to the monthly payments on the car note, there are other costs to keep in mind. Car insurance, expenditures for routine maintenance like tires and oil changes, and gasoline, all cost money. Another financial consideration is whether to buy a new or a used car. The used car will often seem cheaper at the outset, but its condition makes a big difference. A cheap car that needs a lot of repairs, or even one that just hasn’t had the routine maintenance like oil changes, tune-ups, belts, and tires, kept up, can quickly become very expensive. High mileage on the odometer might be another sign that the cheap used car is getting close to having things go wrong, too. With so many manufacturers offering warranties covering 40,000, 50,000, or even 100,000 miles on new cars, at no extra charge, it may well be more cost-effective to pay more for a new car and not have to worry about expensive repair bills for a long time.
Another consideration affecting the cost of car ownership is related to how the car will be used. If the driver has to commute 100 miles a day, five days a week, to work, that will put 2,000 miles per month, or 24,000 miles per year, on the car, just driving to work. Any other driving for vacations, shopping, or other reasons will simply add to that number. On the other hand, if the person considering buying a car lives within walking distance of his job, he may walk to work unless the weather is bad. The same is true if he takes public transportation to work most days. In these situations, he will put far fewer miles on his car every year.
Heavier usage of the car obviously means more money spent on gas, but it also affects wear and tear on the various car parts, especially tires and other expensive items. In times of high gas prices, this may cause the buyer to consider alternative fuels and/or cars that get better mileage, especially if he plans to put a lot of miles on the vehicle. In addition, most insurance companies want to know how far the owner commutes every day, what kind of neighborhood he lives and works in, and other bits of information. The person’s driving record also affects this cost, and so can the type of vehicle: a “grandma car” costs much less to insure than a fast muscle car. Depending on these factors, insurance can be either very affordable or very expensive. After the buyer has taken a long, hard, realistic look at all these issues, he should have a good idea of how much he can afford to pay for a car.
Once the budget has been decided, there are still many decisions to be made. What kind of vehicle will be needed for the buyer’s needs to be met—a small sporty car, an economy car, a minivan or SUV, or even a pickup truck? If the person decides to buy a used vehicle, should he go to a dealer or buy from a private seller? What make and model does the buyer want, or does he even care about the brand, so long as the car runs and looks good? He also needs to think about what kind and size of engine, what kind of transmission, and what kind of fuel will suit him best?
In answering these questions, the buyer should be able to narrow the choices to several vehicles, and then some research online and a few test drives should help him make the final choice. While buying a car is an exciting project, there are a lot of things to keep in mind to make a choice that will keep the buyer happy for a long time after the paperwork is signed and he drives his new vehicle home.
