Buying a car requires a bit of work ahead of time

Cars have become expensive; it is not unusual to pay as much for a car as you would have for a house just a few decades ago. That being the case, an auto purchase is not something you want to just jump into without thinking. You should prepare ahead of time to be sure that you have found the vehicle that best suits your needs and that you are financially prepared to buy it.

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Purchasing an automobile is not something you do on a whim

The purchase of a car is something you should do after you have done your homework. You might be spending $20,000 or more; you don’t want to spend it on something that ultimately turns out to be wrong for you. If you take the time to do some research and find out what you need and how you will purchase it, you will find the process much easier.

We covered a few car buying tips in a previous article, but here are a few more things you should consider before you make the decision to purchase:

• Are you going to purchase or lease? Buying a car outright is generally the most cost-efficient way to own a vehicle, especially if you intend to keep it for a number of years or if you drive a lot of miles. If you are someone who likes a new car every two years and you drive less than 10,000 miles annually, a lease might work better for you, as the payments are often considerably lower. If you decide to lease, watch out for the “wear and tear” provisions in the contract as well as the per mile fee that applies if you drive more than the number of miles stated in the lease.

• What to buy? Check the annual auto issue of Consumer Reports. There are also numerous sites on the Internet devoted to car shopping. You will want to find a car that suits your needs with the right amount of passenger space and doors. These days, with $3 gasoline, you may wish to have a look at fuel efficiency as well. And don’t forget to look at crash test results and expected reliability, something buyers of the early 1980’s Chevrolet Citation forgot to do. Those new transmissions add up in a hurry.
• Drive it. Really. Take it out for a drive and drive it like you ordinarily do. If you primarily drive on the freeway, then take it on the freeway. If you usually spend time in traffic, then put it in traffic. You may end up spending a lot of time in this vehicle; make sure it’s a good fit.
• Check on the cost of auto insurance - You may find that certain types of cars cost a lot more to insure than you want to pay. That can particularly apply if the vehicle is a sports car and/or if you are under 25 years of age. The last thing you want to do is spend big bucks on a Dodge Viper, only to discover that you can’t actually afford to put it on the road due to the insurance costs.

There are a number of things to be considered before you take on the expense and responsibility of a new car purchase. If you do your work ahead of time, the process is much less of a headache.

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