Top Tips When Purchasing a New Car

Purchasing a New Car

So, you have finally saved enough cash to treat yourself with a brand-new car but cannot decide which one to get, going through the long list of available models and manufacturers. We have gathered a few golden tips that might ease up the process of selecting and purchasing the right car for you.

Finalize your Requirements

The first and foremost thing to do is to list down all your requirements. Things like deciding your new vehicle’s basic layout such as its class and powertrain are a must before stepping into the market. Making decisions on whether you want an SUV, convertible, or a coupe car, and do you want to opt for a battery or a fossil-fuel-powered car, can help you narrow down your research. Note down the list of options that you would want on your new car and the ones you could compromise on. Getting a larger car or an over specced one would only make you spend more cash than you had to if you had done some prior consideration about your requirements.

Know your budget

Manufacturers have a huge list of vehicles spread across the price range, so your decision might depend majorly on how much are you willing to spend on your new vehicle. Research the car market thoroughly, whether your allocated budget would be able to get you your required segment of car or you need to save up further for a couple of months. You can consider selling your current car before getting the new one to compensate. If you are selling your BMW for some fast cash, then online dealers do a great job in making the process quick and easy nowadays.

Don’t Go all out on add-ons

Tick only the extras that you require on your new car. An over specced B-segment car can be priced over a decently specced A-segment car by going all out with the options. So, weigh the add-ons against the added cost and look out for other models that come with most of your shortlisted options as standard.

Keep in mind the maintenance cost

Do keep in mind the maintenance cost of the vehicle before purchasing it as well. A larger engine or a big turbocharger might sound interesting on the first note, but both come along with their complimentary bump in maintenance and fuel cost in the longer run.

Finance Options

Some dealerships can offer well-priced lease deals that might save you from a huge upfront cost. New cars depreciate around 30-50% within the first 3 to 4 years so, you can weigh both of the options against one another to find the best deal for you.

Best Discount

After finalizing your car model, trim, and options, try to get a quote from 2 to 3 dealerships to get the best discount on your purchase. Some dealerships also provide significant discounts on purchasing a new car when you turn in your older car, so do discuss the option with the dealership before closing the deal.