New Car Smell: What to Know Before You Buy

Most people are super excited when they finally get the opportunity to purchase a new car. It’s an opportunity to upgrade and finally get all the features you’ve wanted, but you also have so many factors to think about before you decide. Before you start to budget, here are a few things that you should know before buying a new ride. 

Cost of Insurance

Some car buyers forget to research the cost of insurance. Before signing your name on any paperwork, it is always a good idea to get a quote from your insurance provider. While the insurance for one particular vehicle may cost around $100 a month, the insurance rates for a similar vehicle may be $150 a month. This is a cost difference of $600 a year. Make sure you have all their information before making a final decision.

Long-Term Reliability

The reliability of a vehicle is a very important quality. Although some vehicles will deliver years of trouble-free service, there are others that will need major repair work in the future. Remember, most car warranties last between 60,000 and 100,000 miles. After the warranty period ends, you will have to cover the cost of getting your vehicle repaired. When reading through the reviews for a vehicle, be on the lookout for common problem areas. 

Budget

Never go shopping for a car without first developing a budget. If the payments for a vehicle exceed 20 percent of your monthly income, you should seek a more affordable alternative. Some dealerships offer free maintenance for a year, which will help you to save a lot of cash. When outlining your budget, do not forget to factor in the cost of fuel each month. 

VIN Check

If you decide to purchase a pre-owned vehicle, be sure to always check the car’s vehicle identification number. According to Instavin, a VIN check gives you complete access to the vehicle’s history. In the event that the vehicle was involved in a major accident or natural disaster, a free VIN check should reveal the facts. 

Optional Features

Most new vehicles are offered with several optional features. In most instances, the optional equipment will cause the total cost of the vehicle to increase. Luckily, most insurance companies provide discounts for vehicles that are equipped with upgraded safety features. Ask your dealer what is included in the total cost.

Trade-In Value

You may consider trading in your old ride. However, don’t expect the dealership to give you top dollar for your ride. Try placing an ad on Craigslist before attempting to negotiate with the dealership. If the car is not worth much money, you may want to just keep it as a backup vehicle. 

When shopping for a new ride, remember to do your homework before making a final decision. The last thing you want is be stuck with an expensive lemon.