Buying a car is one of the largest financial decisions most people will make, second to property. After all, it can be heartbreakingly expensive should you end up with a lemon. But it’s not just the car itself that you need to consider. As well as obtaining finance from lenders (such as Zoom Car Loans ), there’s also the importance of navigating the sales process so you can get the best deal possible. For those in the market for a new set of wheels, here are the top things you need to know.
Research Is Key
Relying on a salesperson to tell you the best car for you can be fraught with problems. They are a salesperson after all, and might not always have your best interests in mind. That’s why the onus should be on you to determine the size, features, fuel economy and safety features you require. There are plenty of websites that allow you to compare vehicles in the same class and size over a number of metrics.
Remember, a new car should fit your specific needs. If that is for long distance driving, comfort and reliability will be priority. If you’re a city driver, an automatic car will save your clutch when stuck in traffic, and if you’ve got a growing family, a larger vehicle could be the way to go. Always check used car price guides so you know what should be a fair price range based on the age, and make and model of the vehicle.
Once you’ve decided what kind of car you want, it’s a good idea to start searching for the best deal on new or used car finance. If you get a loan from the dealership direct, chances are it might be convenient, but its probably not the most flexible or with the lowest repayments. Typically, car loans are either secured or unsecured, each with their benefits. An unsecured loan will typically attract a higher interest rate, but the car won’t be able to be repossessed if you default on payments. Whereas with a secured loan, your asset (car) will be held as security if payments are not made. There is also the option to lease the car, but this means that you’ll never fully own it, which might not be desirable for everyone.
Ask Plenty of Questions
Don’t be afraid to ask the seller several questions when buying a used car. Things like how long they have had the car, does it have any quirks, does it have a roadworthy certificate, and of course why it’s for sale are all worth asking. Any cagey answers can be a red flag, and may make you want to rethink your purchase. Cover your bases by making the sale conditional on the vehicle passing a roadworthy test. Finally, for second hand vehicles, always ask for a test drive. After all you want to feel how the car drives for yourself before you commit to buy.
If you’ve purchased a car recently what would you say were the biggest factors to consider? Share your advice with others by leaving a comment!