Buying a New Car? What to Look For.
If you’re in the market for a new car, then there are a number of factors that’ll determine whether or not you end up with a good deal. Taken in isolation, these things will have a small effect on how much you end up paying, and how much you lose in the long run. But consider all of them, and the effect on your driving experience (and wallet) can be enormous. Let’s take a look at some of the things you should be looking for when you’re buying a new car.
Look for a car brand that retains its value
Certain badges, like Mini and Volkswagen, will retain their value better than others, like Kia and Daewoo. As you might imagine, the premium brands are those which hold their value better after the car has left the forecourt. All this is to say that just because a car might command a higher asking price doesn’t imply that it’s going prove a worse deal in the long-term.
Go through the ‘new car’ checklist
Before you spend any money, sit down and work out exactly what it is that you need. If you’re starting a new family, then the space available in the rear seating compartment might make a big difference to your decision. If you’re taking shorter journeys through the middle of the city, then you’ll have different handling requirements than if you’re only going to be taking your new car on long trips along the motorway.
Look at the car’s insurance group
As well as the upfront cost of the vehicle, be sure to account for running costs that’ll hit you in the wallet over the long term. These might include things like fuel efficiency and road tax. But it’ll also include the cost of insurance. Certain sorts of vehicle will command higher insurance premiums because they’re statistically more likely to be involved in collisions, and to suffer greater wear and tear. You can offset this by installing a black box, which will record your motoring behaviour and thus demonstrate to insurers that you’re not a risky purchase. Moreover, gap insurance through a provider will help you to recover the cost of your car if it’s involved in an accident.
The asking price shouldn’t be viewed as an absolute minimum price. It should be used as a basis for negotiation. If you feel that you can get a better deal, then push for it. In most cases, the seller will expect some sort of resistance – so make sure you provide it if you want to minimise your outlay.