For a working professional, buying a car is a huge investment. It not only requires time and money but also the ability to take rational decisions. Since it is your first ever box on wheels splurging on it becomes an even bigger challenge! You are often marred with “to be, or not to be” thoughts.
To put an end to your dilemma, here are five points to remember while purchasing your ride:
1. What’s Your Budget:
A car is an expensive commodity no matter how deep its discount is. Therefore, ensure you buy a car that you can actually afford via EMI, loan or though any other financial approach. A good thumb rule is to allot a budget of not more than 25 percent of your monthly household income. Splurging is not an option for you unless you have won a golden lottery!
2. New vs. Pre-Owned:
There’s no doubt that a pre-owned car is less costly. You can easily purchase a better model for lesser money. Plus, depreciation doesn’t hit pre-owned cars as soon as they are rolled out on the road; so buying a used vehicle is value for money! However, buying a new car also advantages – the most important being ‘it’s new’.
3. Get Quotes From Several Dealers:
Before you make a selection, make sure you visit at least 5 dealers and get information about your top picks. Multiple dealers might be able to share more insights on financial options, special features, pros & cons, etc.
Related: 3 Best Audio Systems for Your Car
4. Take A Demo:
When you’re at the showroom, ask the salesperson to show you multiple features such as navigation, audio, cooling system, gear techniques, etc. of all the cars you like. This will smoothen your selection process once you know which car suits your needs and requirements.
5. Low On Maintenance:
Striking a good deal or getting a discount on your first buy is awesome, but is it really lucrative when to comes to maintaining it? Check that. Spending lots of money every now and then to make sure it stays on the road is not only physically taxing but also monetarily draining.
Related: 3 cars perfect for a road trip
Buying your first car is indeed thrilling – which is why you have to make sure you get the best deal. Don’t rush into making a purchase. Talk to people, connect with dealers, take multiple test drives and then make an informed decision.