When preparing to make a car purchase there are several essential points to consider.
- What can I afford? It’s important to ask yourself this question before you make the purchase, especially if you are going to use a loan. Car dealers are notorious for attempting to convince you to purchase a more expensive vehicle or to add accessories to whichever car you finally decide to buy. Take the additional costs into account and consider their place in your budget before agreeing to them. Also, consider the fees associated with car ownership such as annual registration fees, annual Transport Accident Commission charges, Government Motor Vehicle Duty (whether the car is new or used), Transfer of Registration fees (if buying a used car), the number plate fee, vehicle insurance, fuel and repair costs, roadside assistance membership, and any interest or additional fees due to borrowing money to purchase the car. Also, depreciation of the car will begin as soon as you sign the paperwork and drive away, with some cars depreciating faster than others. Keep in mind your budgetary needs and make a sensible purchase.
- What purpose will the new car serve? The style of car we need can be vastly different from the one we want. It’s important to prioritize what type of vehicle you are looking for before you go to the dealer. For example, if you have a small family of three, you really don’t have a pressing need for a large vehicle. Instead, you might want to consider a smaller, more efficient car for your family needs. Also, what size engine will you want or need? Will you need a petrol engine, a diesel engine, or an electric hybrid?
- What extras do you want or need? Sure, you may want a large 4WD utility vehicle, but if you live in the city and have no children your actual need could be a small, sensible vehicle. The same is true for any extra equipment in the new car. Some safety features are optional but may be worth considering, such as ABS brakes and airbags. Also important to consider is whether you want an automatic or manual transmission as well as power steering. Older individuals will find such additions to the purchase helpful. The colour of the car, a tow bar, air conditioning, and a CD player may also be offered for additional cost. Make a checklist of those items you want or need and consider the extra costs before visiting the car dealer.