Six Questions To Ask Yourself Before Buying A Car
If you’ve driven your current set of wheels into the ground, or your family has simply outgrown the old sedan and needs more seating and cargo space, there are a few things you should consider before taking your first test drive. Car buyers can improve their chances of finding the right vehicle at a reasonable price by answering these questions:
1. How much are you willing to pay? Set a budget for total price or monthly payments and consider whether buying or leasing is your best option.
2. What kind of vehicle best fits your needs? New or used? Sedan, coupe, hatchback, minivan, SUV, crossover, or truck?
3. Which features do you need or want? Leather? Sunroof? Tow hitch? Heated cup holders?
4. What is the cost of ownership? Research different makes and models for fair market value, reliability, repair costs, fuel efficiency, depreciation, and insurance rates.
5. Who can offer you the most attractive car loan? Should you finance through the dealership or your bank? It’s a good idea to get pre-approved before negotiating a price.
6. Should you keep, donate, or trade in your old vehicle? Selling it yourself might be more trouble than it’s worth.
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