The route to car purchase can be an irresistible one, when it comes to choose a car among so many brands, makes, and models available in USA. Here, we are going to share things to consider before your next car purchase.
Eventually, you’re going to enjoy your new set of wheels, although you’re deciding which car to purchase and get a car finance in competitive interest rates, here are five questions you must ask yourself before signing the contract.
What type of car will be the best fit as per my needs?
Start with the purpose of using this car for? You would never find a car that fits the needs of every one, thus, look for something that caters to your necessities. Once you know your needs, it will be easier to decide which type of car is best for you.
Should you buy a new car or a used one?
Driving a new car is an amazing experience. That new car smell, shiny hood and housed with latest features is something everyone loves. However, another reality is that your new car will go down 30% of its value in the first three years.
With used cars, you can save thousands as it has already depreciated in price. This means you don’t lose money and can still get warranty from most reputed used car dealers.
What’s there in the type of engine/fuel mileage?
Three types of engines are available i.e. Petrol, Diesel and Hybrid. Each of these engines and fuel variants will vary in performance and will affect your budget too. Hybrid vehicles are the most cost effective machines and are becoming quite popular these days. A diesel car will be easier on your wallet, but might prove more expensive than the average petrol ones.
Should I look for “Grey Imports”?
A “grey import” is an economical car, mostly imported from Japan that has gone through revamping after an accident. They are the models that were never officially launched in USA, thus if you buy one, you will rule the roads with your unique wheels. However, low price saves good money, fixing it can be extremely pricey. They’re quite difficult to repair and finding parts is next to impossible. While you can save through it, you should decide if it’s worth the risk.
What about the Brand Value?
Brands are enticing and better brands have more retention value. This means those brands tend to depreciate less as compared to other brands in the market. Take out time to do some comparisons between the brands and you’ll find the ones with good value.
If you have more questions to help you make a car purchase, talk to the car loan officers.