New Car Research
Researching New Cars
Below an ordered list of points to consider when researching, and buying a new car…
Determining Your Real New Car Needs
These questions will help you jot down your specific needs, prompt some ‘must-haves’ and open up some considerations (maybe even start some fights… sorry)
- Will this car be a first, or second car?
- Who will be the main driver?
- Manual or automatic transmission?
- Do we really need a 4-wheel drive? Or all-wheel drive?
- What are the must-haves as far as safety features are concerned?
- Is there a minimum space requirement? – Think kids, sports, hobbies and work. Interior room, and the amount of luggage-carrying capacity is extremely important in this decision.
- Towing requirement? Caravan? Trailer?
- Will the car easily fit in our parking area or garage?
- How many people will need to travel in this car at any one time?
- What kind of driving do you do most often? Quick city dashes, highway or combination?
- How long are your regular commutes?
- How important is fuel economy in the decision?
- Have you thought about colour?
- Will the car be garaged?
New Car Budgeting
Whether leasing or buying, having a monthly payment you know you’ll be able to meet is key. Car payments, as a general rule, should not exceed 20% of your monthly take-home pay. | Car Loan Calculator
Also consider the ‘cost of ownership’ below.
Buy or Lease?
Some Advantages of Buying:
- Flexibility – Sell at any time
- No fear of owing more than the car may be worth
- No interest
Some advantages of New Car Leasing:
- Possibility of driving a better car
- Regular upgrades if structured carefully
- Tax advantages in business
Need finance? Make a New Car Loan enquiry.
Cost of New Car Ownership
This is one of the most overlooked factors in a new car purchase. Although drive-away price is very important, cost of ownership is an ever-present reality once you own the car, or go to sell it. Consider insurance premiums, service intervals and cost, fuel economy and depreciation.
The Test Drive
At the point of test-driving, letting a salesperson know that you are still in the research phase of your car buying process is an ideal way avoid any pressure, time-wasting or embarrassment… It’s a good idea to also do any test driving in one morning or afternoon to get accurate comparisons.
New Car Research Checklist
- Compared cars of interest in the same class
- Good idea of the new car cost / affordability
- Decision on whether to buy or lease
- Test driven top choices
- Options / Accessories
If you’ve been able to check all in the New Car Research Checklist above, you’re ready to save maximum time and money with Any New Car