Purchasing a vehicle is a major decision and one which most people will not take lightly. But aside from the simple things like colour and mileage, what else do you need to consider when making a purchase, which aside from buying property, is probably the biggest asset that you will ever buy. There are so many things to consider and there is no right or wrong answer as a lot of the decision is dependent on the specific needs of the individual making the purchase, but here are a few things you should weigh up before reaching for your wallet.
New is not always better
The big question on most people’s minds is if it is worth shelling out the cash for a new car or should they rather go second hand. There are pros and cons both ways and you need to weigh these up. Obviously the second-hand option means cars are cheaper and they are more likely to retain their value. But conversely you don’t know who has driven the car or how they have driven it, whereas a new car has gone from the factory on car transport Brisbane or to Sydney to end up in the showroom. So there is a lot to consider but generally speaking a low mileage, second hand vehicle is going to be better value than a brand new one.
Know the history
Find out as much about the car that you are buying as you can. If it is second hand it is super important to know who owned it previously and what it was used for. Is there a service history available for inspection and has it ever been in a crash before. If it has been crashed or the service history is not available then it is probably best to avoid purchasing it – unless of course you can use the above to secure a healthy discount.
Don’t over commit and end up buying something that you cannot actually afford. If you are able to pay cash for the car then the truth is that that is the bet car for you. Getting into debt is never really a good idea and if you have to pay the car off over several years then when you do the math you will discover that you are paying a lot more for the car than the actual book price. While it is easy to get financing for a car if you can pay cash, do so – even if it means waiting longer and saving more in order to make it possible.
It is important to be practical when buying a car, so always think about your lifestyle and your circumstances. If you are going to be doing a lot of driving around the city then a large sports utility vehicle is probably not the best choice for you – even if it makes you look rugged and manly. If you are going to be transporting children to school and sports then a coupe or sports car is not the answer. It might seem obvious, but you need to be practical and not get taken in by image.