BUYING A CAR is a big decision because it involves shelling out money and a sense of responsibility. That’s why it is important for every car buyer to make the right choice.
Here, tips to consider before buying your dream vehicle:
Budget. If you are buying in cash, you are spared of the monthly payment. But if you opt for installment basis, you should have a least a year of monthly payment ready just in case something comes up. That is, after the downpayment and other fees.
Parking space/garage. This is mandatory for every car owner. If you don’t have a car garage, you might have problems not only with the law but also with neighbors, safety, and car condition in the long run.
Why you need a car. Do you really need a car? Who will drive/ride in it? How often will you use it? Do you have a budget for gasoline, insurance, and maintenance? These are just some of the questions to answer before you even step into a showroom.
Research extensively. Visit websites of car brands you are considering. Read feedback, and reviews, listen to forums from other users and weigh in on the car’s pros and cons. Bear in mind that not everything you read online is true, so ask around.
Schedule test drives. Do test drives of multiple models to narrow down your choices. This provides you with a hands-on feel of the car you are considering.
Financing. If you opt for bank financing, get the lowest interest rates available from banks. Take advantage of their various deals and promotions to save on cost.
Negotiate. Maximize your money. Ask for deals, concessions, freebies, even a small fraction from your sales agent’s commissions. They will most likely give in to your request, albeit not all, to consummate the deal.
Read the fine print. Make sure you understand what the sales contract warrants before you sign it. If there’s something not clear to you, ask to explain it to you. Only after you are 100% sure of what you are getting into should you sign the contract.
Trust your instinct. If there’s doubt or something feels off, follow what your heart dictates and live with it. You will know if it feels right.
Hop in!
