When Adulting Gets Serious: What To Think About When Buying A Car
Adulting is something we all have to face at some point in our lives, and i guess some will face up to it sooner than others. It often includes moving out of the parental home and fending for yourself, having a job or career, and buying a car. A car essentially, should be one of the easiest things to do when it comes to adulting, but some people struggle with the big decision they need to make. So I thought I would cover some of the basics you need to think about when the time comes to purchase a vehicle for yourself. I hope it gives you the guidance you need.
Think about the type of car you need
One of the first things you need to consider is the type of car that you need. Do you need something that is fuel efficient? Do you need to do more city driving than out on the motorway? Perhaps you need a car with a big boot or five doors instead of three for ease. Knowing what you want out of a car, even if it is as specific as the colour you want, will make the shopping experience for your new vehicle much easier. With such a huge choice out there, you could spend a good chunk of your time trailing around dealerships and looking at manufacturers that may or may not suit your needs or your budget.
How will you fund it?
On the subject of budget it is important to know how you plan on your funding your vehicle purchase or at least what your options are. There used to be a time where everyone would pay for their vehicles in full, but these days, as a vehicle is a depreciating asset there are more options that you can consider. Many dealers and manufactures do 0 deposit finance, which can make things a little easier in terms of spending. Financing a car is one of the most popular ways to buy one these days. It gives you the flexibility of a low monthly payment and a chance to trade it in and upgrade after a few years. You could also consider leasing, or if you want to keep the finance away from the car a personal loan may also be an option. Look at what your budget is as a whole and monthly, as you may be able to afford more than you think when financing and working of a monthly budget rather than a lump sum.
Are you buying a new or used vehicle?
The next thing to think about would be whether you want a brand new car or a used vehicle. The whole thing can be a little overwhelming and often the best advice would be to look at both options. Your budget may stretch for a new one, but a used vehicle could work out to be better value. The best thing to do would be to know what you want and then explore both options.
If used consider these things
If you do think a used vehicle is going to be the best option for you then you need to consider some of the main factors that go alongside a used car. The one you want to buy should have a service history, and it should be in good condition. Look out for damage to the bodywork, the mileage verse how old it is and whether or not it has history of being in the garage. You might also want to compare prices. While every used car will be unique, you should still be able to workout the best value. If in doubt, bring someone along with you for support and advice.
Think about your future plans
Finally, think about your future plans and what you may want to achieve moving forward. If you think you may need a car that is good on consumption for more travel in the future make that decision now. Or if you want the flexibility to change after a few years because you know your career might progress or you may move and travel more, for example, then factor that into the purchase now. Knowing what your future plans are means that you can factor in the decisions when it comes to buying a car. The car you buy now isn’t forever, but it needs to suit your needs now and perhaps be changed or suit your needs in the future as well.
I hope these tips help you when it comes to buying a car.
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