Purchasing a new car is supposed to be a fun and exciting time in your life. Looking at different car models, choosing the right one, then finally settling into the driver’s seat of a shiny new car, ready to drive around in style.
That said, more often than not, a lot of the questions related to buying a new car can cause what is supposed to be an exhilarating experience into a distressing one. Between stressing over finances, figuring out what to ask the dealer, and even trying t choose the perfect type of car, the buying process can be tricky if you’re new to it. That is why we have decided to bring you the top 5 tips to follow and consider hone buying a new car.
1. Determine What Car You Can Afford
It might appear as though it’s an obvious first step, but working out the amount of money you can afford to spend on car instalments on a monthly basis is a vital initial step to purchasing a new car. This will allow you to avoid failing to afford the monthly instalments, or more awful, drowning yourself in debt as you try to make the payments.
That is why it’s essential for you first to determine how much money you can afford in monthly instalments before you buy your new car. Likewise, try to create a budget for basics like occasional repairs and also car insurance.
2. Determine What Kind Of Vehicle You Need
Once again, this may seem like an obvious next step; however, another significant one in any case. Determine the make and model of the car that you need, as opposed to wanting. If you have a family, there’s no need to waste money on a two-seater sports car. Also, if you live in the city, there’s no reason to justify spending money on an expensive 4×4.
That is why to guarantee you pick the best car for your lifestyle, first determine precisely what you need from a car. When you have a clear picture of the important specs and features, you’ll have limited your search significantly. After this, you’ll have a more precise idea of which sort of car would suit you best.
3. Secure Your Financing
A few dealers might attempt to convince you that getting financing is only vital once you come to buy a car. The truth is, strolling into a car dealership with approved financing gives you a lot more negotiating power and will allow you to find an ideal interest rate.
Also, having your financing approved prior to visiting a car dealership might allow you to have some extra money to pay related taxes and fees. These are costs that you may, some way or another, need to cover yourself after buying. Accordingly, applying for car finance prior to buying a car can give you an advantage.
4. Choose A Car Dealership
When you have a waitlist of conceivably reasonable cars to buy and have gotten financing for yourself, it’s an ideal opportunity to visit a car dealership. In South Africa, you’ll need to ensure any dealership you pick is a certified member of either the Independent Dealer Association (IDA) or the Retail Motor Industry Association (RMI). These affiliations are accredited organizations that are controlled to guarantee reasonableness, compliance and best practice norms. Before you approach any dealership, first ensure it is associated with either one of these regulatory authorities to secure your rights as a customer.
5. Always Go For A Test Drive
This is arguably the most aspect of the buying process, your scrutinizing of the dealer. Before you settle on a decision on which car to purchase, you’ll need to ensure you know everything about the car, inside and out. That implies asking the dealer any questions about specifications, service plans, warranties, additional discretionary items, or any other information you’d like to know about. Additionally, this is your chance to take your shortlisted cars for a test drive. Perhaps a couple of cars, if you think it’s necessary.
Ensure that you know how well the car handles, how confident you are in the driver’s seat, and how comfortable you feel driving it before truly making an offer. Also, when it comes time to discuss the cost, always remember that the door to negotiation is always open when it comes to buying a car and can sometimes allow you to pay less than the total price!