Thinking of buying a car? It can be an exciting time. But buying a car is also a huge investment. Before you commit, check out these tips to make the most of your time and money.
Research, research, research – Once you’ve determined the general type of car that fits your lifestyle and budget, take the time to find the makers and models that represent the best buys. Which car has better gas mileage? Better maintenance records? Convenient service hours? Better trade in values? Websites like Edmunds.com and KBB.com can help you sort through these details, including average costs for new and used cars. Local libraries will have copies of Consumer Reports’ car buying guides.
Prepare, prepare, prepare – In my opinion, the only way to buy a car is to pay cash for it. That may mean that you can’t get the car you want right now, but it does mean that you’re going to avoid going into debt for a vehicle that will go down in value. Buy a car that you can afford, but then continue to save up, so that once you have a more shekels in the bank, you can continue to move up to the car that you really want.
Drive, drive, drive – Even though you’ve found the virtual dream make and model, it’s essential to drive the actual car. Is there enough leg and headroom? Is the seat high enough? Are the buttons and gadgets in logical places? Is the car responsive? Is there anything that just doesn’t feel right to you? Remember, you may be driving this car every day for years—know what you’re willing to compromise on.
By preparing for this purchase well, you’ll know when you’ve gotten a good deal, and can drive away happy.
YOUR 2 CENTS – What other questions do you have about buying a car?
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