You want to buy a car? Then you need to learn from the experts so as to avoid the possible hitches that may befall such process if you venture into car purchase without adequate knowledge and guidance. This write-up is prepared to give you that highly required guidance and lead you by the hand; call it the best car buying guide 2017, and you will not be far from the truth.
So, what are the very important things you must keep in mind before you buy a car in 2017?
Read on in this best car buying guide 2017 to learn about these important things.
What to expect
The automobile trend is changing in America. Auto buyers are gradually moving away from the midsize and compact cars to the crossovers, the compact SUVs, the subcompact SUV and the pickup trucks. Why this change in inclination? These latter automobiles are known to be best for economic fuel consumption. Auto buyers in 2017 should therefore not expect to get a good deal in any of those other makes of the automobile in the New Year.
If you want something classy and sizzling, you may want to consider automobiles like Toyota Tacoma, GMC Canyon, Chevrolet Colorado, all in the compact truck segment. What about the 2017 Honda Ridgeline? It is another automobile worthy of mention in this best car buying guide 2017.
What is your budget?
This is a very important issue, and it deserves mention in this best car buying guide 2017. If you cannot afford a particular car, you will never be able to take it home, even if you have your heart set on it. While considering the perfect budget for a car, take into consideration your monthly household salary and set aside only 25% of this amount for the automobile. The figure will include the monthly car loan payment, car insurance, and fuel. There are free calculators available online that you can use to determine how buying a new car would fit into your monthly expenses. The calculator can also help in determining your necessary savings and monthly bills.
Which type of automobile to go for?
It is also very important to decide on which type of car to go for, and this is why it is given a very strong consideration in this best car buying guide 2017. Are you buying the car or you want to lease it? Are you buying used, pre-owned or new car? These are very important issues to consider before you buy yourself a car. There are so many lease returns services available out there today, and there are wide arrays of used cars that are not more than three years old. Therefore, a certified pre-owned car or used car is somewhat a great choice since it is cheaper and looks relatively new. These days, the options are so many, and it is easier to get far cheaper cars than ever before. Consequently, it is easier for your budget to meet up to expectation when you want to buy a car.
The used car attracts higher interest rate and the warranty period is also shorter than what obtains in new cars. Also, you will not be provided with the full history on that car. However, you can still get a good deal on such cars.
Leased car, on the other hand, gives a more upscale car, but it will not give you full ownership of the car. Also, you must be careful about the all the lease terms so as to avoid being slammed with a heavy penalty. If you spend the same amount on a leased car or a used car on a new car, such new car will not have as many features as you would desire. However, new cars have a full warranty, and you will not have to pay high-interest rate. New cars also come with roadside assistance and free maintenance.
Narrow your choices
This best car buying guide 2017 sees it as safe to always place your budget as a top consideration when choosing the best car to buy. With your budget in mind, make a list of those cars that you fancy. Then, visit the automotive information sites and automakers sites to find out what are the features in those cars. You can choose among the ones you have listed based on the specific features each of these cars posses. Narrow down the list to those cars that have your desired features, while still keeping your budget in mind.
While narrowing your choices, you should also keep the invoice prices and Manufacturer’s Suggested Retail Prices (MSRP) for the particular automobile in mind. You can also check for automobiles available in your locality by checking your local inventory listings. Look for a car that costs 5% less than what your monthly budget is and this will provide room for the easy covering of maintenance, repair, insurance, gasoline and other operating costs.
What does your ownership cost?
By now, you should have narrowed down your list of preferred cars to one or two. The next thing to do is to estimate the ownership costs of these cars to find out if they will fit perfectly into your budget. You can get a general overview of ownership costs in your area from trusted websites, like Kelly Blue Book or Edmunds. Your personal situation can, however, create variation in the ownership cost.
You can personally calculate the ownership cost by determining how many miles you would drive per annum, which will help determine how much you will spend on fuel, on auto insurance and other expenses.
You should first secure financing for the new car before you visit the auto dealer for a test drive; this point is worthy of mentioning in this best car buying guide 2017. Auto dealers are given a commission or flat fee on every auto loan they can facilitate; this is why they also desire to coordinate your car loan aside from selling the car to you. The loan can be from either a local lender or the manufacturer. You can get a better offer from a credit union or a bank than the dealer. Credit dealers are better since their loans are around 2% lower than what banks provide.