Buying a new car is an exciting event, but the range of options can be intimidating. Research cars and local dealerships to start narrowing things down. Consider your budget and look at affordable options that suit your lifestyle. Decide what size of car you want based on your family situation and transport needs.
Buy a smaller car if you want to save money.
Other than luxury sports cars, small cars generally cost less than larger models. They also consume less fuel, which will save you money over the long term. Opt for a smaller car if it suits your lifestyle and if your family can fit comfortably inside
Avoid 2 door cars for a family of more than 2 people.
If you have kids, intend to have kids in the near future, or drive around friends or family on a regular basis, opt for a 4 door car over a small 2 door car. The process of pushing up a front seat to let your backseat passengers in and out of the car will likely grow tedious over time. Sedans and hatchbacks with 2 doors are good choices with affordable options on the market. Get a full-size minivan or SUV to suit a large family. If you regularly transport 4 or more people and need lots of trunk space, opt for a large vehicle to suit your needs. A minivan or SUV can carry up to 8 passengers when equipped with a second-row bench seat.
Opt for a pick up truck if you regularly transport large items.
Pickup trucks are popular and powerful vehicles with a range of options and features. If you intend to pull a trailer or haul multi-ton loads, look for a full-sized, heavy-duty pick up truck. If your cargo transport needs mostly involve hauling dirty items that you wouldn't want in the interior of a vehicle, like construction debris and mulch, opt for a compact pickup truck.
Work out your car budget.
As a general rule, your car payments should not exceed 15% of your monthly salary. This percentage gives you room to cover your other monthly expenses, such as rent or mortgage, food, bills, and car insurance payments. Use a phone app or Excel spreadsheet to calculate your regular expenditures over a month, including money spent for entertainment and leisure, to see if more of your budget can feasibly go towards your car.
Decide between a new or used car.
Your budget will be the most relevant consideration when deciding between a new and used car. Used cars generally offer a better value but they require careful checking by an expert to ensure that they are in good condition. Avoid buying a car that has had numerous owners, which is usually a bad sign.
Consider fuel efficiency.
If you want a fuel-efficient car and you commute less than thirty miles daily, a hybrid car is a great option. If you travel long distances on a regular basis, opt for an economy sized four cylinder car. Having fewer cylinders means better fuel economy overall.
Research local car dealerships online.
An important part of car shopping is having a quality experience with the dealership you choose to buy from. Look up cars that are within your budget. There are a variety of online resources available that will help you find a car that you can afford.
