Buying a new car can be exciting. The smell of the interior, the low mileage, the new paintwork and all the mod cons you can think of are enough to send most people out to a local showroom to see what catches their eye.
My eldest son is currently saving up to buy a car. The thought fills me with both dread and pride in equal measures. The fact that he is saving for something he really wants is great but as his mum and my eldest, I am yet to get my head around the fact he is old enough to drive.
If you’re looking to buy a new car rather than a used car there is so much to consider. There is so much more to think about than the colour of the paint or the extras it may or may not have even if they are nice.
You may have found a car you like but out of your budget if this is the case have you considered looking for a car that is located further away? For example if you live in Bolton have you considered looking for used cars in Stockport? It’s possibly not a place you might consider at first but by broadening your horizons you may just find the car of your dreams at a lower price.
New cars are expensive and they’re usually a long term purchase so it’s important that you are certain that you are 100% happy with your final decision before signing the paperwork.
Can you afford it
Before you go viewing new cars look at your income and expenses. Cars are expensive to buy even smallish models that don’t have lots of additional features will cost you more than £10000. Do you have the money to buy a car outright or will you be needing to finance your purchase using a loan? If you will be using finance, use an online calculator beforehand to ensure you can keep up with the loan repayments. Remember if you don’t keep up with your payments your car could be repossessed.
Do your research
As I’ve already mentioned, new cars are expensive so before you commit to buying one you need to make sure that it’s big enough for your needs. My son will only need a small car for commuting to college, work and then possibly university so it makes sense for him to be looking at small cars. If you have a large family or planning one in the near future you should consider a car that has 5 doors, a boot big enough for shopping and or a pushchair if you need one, or a pet if you have a dog that needs transporting.
Other things to consider
You should also consider the other costs that are associated with running a car. Insurance, repairs and servicing can all be extra expenses that you may not have considered.
Are you planning to buy a car that is electric, hybrid or runs on fuel? Electric cars are popular at the minute but with the price of energy bills on the rise is this an extra cost you can afford? Also, if you do a lot of travelling will you be able to get to your destinations without the need of a recharge? If not, this will add to your journey time.
If you are considering a new car soon, I’d love to hear about it in the comments below. Have you decided on the make or model yet?
*This is a collaborative post*