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June 8th, 2010, 09:48 PM
Posted on June 8th, 2010 by Keri DeVrieze
Examine your needs, not your wants. Once you take a look at the items you deem necessary, you’ll quickly discover what car is best for you. There are many questions to ask yourself, however several important ones to begin with are:
How many people will typically be riding with you?
What type of driving do you do most often (highway or in town)?
Is gas mileage important to you?
Determine what a realistic monthly payment is for you. A good rule of thumb is that your total monthly car payment should not exceed twenty percent of your monthly take home pay. It’s important to know what you can afford prior to shopping for a new car.
Decide if you’d prefer to purchase the vehicle or obtain a lease. Although a lease requires little or no money up front and offers lower monthly payments, once it’s over, you have no vehicle. Purchasing is more expensive, however at the end of the loan, you still have a vehicle.
Consider all the costs of ownership. Although one vehicle might be cheaper than another, it may be more expensive to own. A car can depreciate at a different rate or cost more to insure/maintain, thus making it most costly to own.
Research your options. The days of having to visit dealerships to get information on vehicles are long gone. Now, you can search the Internet for information about any make and model you’re interested in. This is not only convenient, but saves you time and money.
Remember to make the most of your test drive, always review documentation prior to signing anything and always explore your options before committing to a new vehicle.
Examine your needs, not your wants. Once you take a look at the items you deem necessary, you’ll quickly discover what car is best for you. There are many questions to ask yourself, however several important ones to begin with are:
How many people will typically be riding with you?
What type of driving do you do most often (highway or in town)?
Is gas mileage important to you?
Determine what a realistic monthly payment is for you. A good rule of thumb is that your total monthly car payment should not exceed twenty percent of your monthly take home pay. It’s important to know what you can afford prior to shopping for a new car.
Decide if you’d prefer to purchase the vehicle or obtain a lease. Although a lease requires little or no money up front and offers lower monthly payments, once it’s over, you have no vehicle. Purchasing is more expensive, however at the end of the loan, you still have a vehicle.
Consider all the costs of ownership. Although one vehicle might be cheaper than another, it may be more expensive to own. A car can depreciate at a different rate or cost more to insure/maintain, thus making it most costly to own.
Research your options. The days of having to visit dealerships to get information on vehicles are long gone. Now, you can search the Internet for information about any make and model you’re interested in. This is not only convenient, but saves you time and money.
Remember to make the most of your test drive, always review documentation prior to signing anything and always explore your options before committing to a new vehicle.