All In A Days Work

I’ve mentioned before how I rushed into buying a new vehicle when mine started to slowly make it’s way into the grave – and how I am kicking myself for not thinking things through a bit more.  Even though buying a car is stressful (not to mention the high-pressure sales people on top of it!) I should have taken more time to make the right decision for me. 

Don’t get me wrong – I have a nice vehicle, I got a decent deal, and it’s nice to walk out and not have to worry if it’s going to start or not. But for a payment that is half my mortgage, well, I should of thought things through a bit more. So to avoid car buyer remorse like me – and so many other people rushing into a new purchase – take your time, and ask yourself these few simple questions.

Have I done my research? Do you know what you want, what you absolutely have to have? Have you figured out a budget, what type of vehicle you are looking for, are you leasing or purchasing? Make sure you show up educated.

Did I Test Drive Long Enough? Never ever feel guilty for wanting to spend more than 10 minutes test driving a vehicle that you will be spending the next  5-7 years in, not to mention your hard earned money on. Drive it and make sure it meshes well with you -and your driving style and commute.

Can I Drive This in Winter and Summer? Sometimes a big 4 wheel-drive SUV is super attractive in the middle of winter – or a convertible sports car in the summer.But make sure whatever vehicle you pick, that you are comfortable driving it 24/7/365.

Do you have a young driver in your future? You might not want your 16 year old  to learn to drive on your new sports car – unless you have a back-up vehicle, assume they will be learning on your new precious.

Did You Check The Insurance? I don’t know why after 10 years in the business I am still  surprised when someone purchases a new vehicle and is shocked on how much it cost to insure it.  This is something you should be doing before you even start the financial paperwork. Your insurance agent can give you a general idea of the premium based on the year/make/model of the car an the coverages you need. Remember, when you lease or get a loan on a vehicle you are required to carry full coverage, so make sure you call and check the rate so you can put that in your budget.

Do I Bite the Bullet – and not rule out the minivan? I was all against having a soccer Mom van too. Trust me, I feel your pain. But when you load up the fam to take them on vacation and you don’t have enough room – well that van is going to look appealing. Not only are they spacious, but they have  some pretty cool features now too.

Am I Being Realistic? Do you really think your family of 4 is going to be OK in a sub compact vehicle? (I’m gonna answer this one for you –  no). Trust me, it’s better to have too much room, than not enough.

Do I Know How Much Maintenance is Going to Cost Me? If  your oil changes are going to run $150 a pop and can only be done at the dealership –  or it cost more to replace one tire than it does to pay your house payment -you may be in a bit over your head.

How Long Will I Be Paying on  This Car? Sometimes it seems almost too easy when you get the car payment you want, but how long is it  for? Some banks are up to 9 years for an auto loan. If you are anything like me, I start getting a 7 year itch -who wants to still be  paying on a car you are ready to get rid of??

I have said it before and I will say it again, purchasing a car can be stressful. Like I’d rather get a root canal stressful -thankfully, we don’t have to  do it all the time, especially if you shop smart the first time around. Being prepared and thinking ahead can save you a lot of headache in the future. There are a  few steps you can take to make sure you don’t end up back at that dealership again in the near future –

Set a Budget. Before you even start thinking about the kind of car you want or taking a car on a test drive, you need to figure out what you can afford. Whether it’s a cash purchase, lease or loan, establishing your budget is one of the smartest decisions you can make for yourself. Trust me, it’s hard to sit down and figure out what you can afford when the salesman is dangling a set of keys in  front of your face! Most financial experts will recommend spending no more than 20% of your monthly income on a car purchase. (Also think insurance,maintenance, repairs, etc).

Figure Out What You Need. To be honest this was one of the biggest mistakes I made when I made my vehicle purchase a few months ago. You never realize what you had until it’s go – extra cargo space, window locks, automated seats, more than one charger outlet, remote smart. Those are just some of the things I didn’t even think of when I made my new purchase. I was just so excited about purchasing a new car, I jumped the gun. Make a list of needs and wants, and establish what vehicles you need to look at – and which ones to avoid. I thought since my step-son was grown and on his own that I wouldn’t need the 3rd row seat, but I didn’t realize how accustomed I came to using that for cargo space -especially during ball season! We are piled high and packed now when I load up all the equipment and family into the car, something I took for granted before. If you’ve already established the budget in step 1, making your final choices on what type to look for just got a little easier.

Do Your Homework. Now that you know what you want (and what you can afford) now it’s time to narrow down the list. Pick your favorite, along with two other comparable vehicles and price them out. Unfortunately when you are purchasing a used car, you can’t just order your specifics – having a few different options, and knowing the going ‘rate’ on them, can help narrow the choices down as you shop at the dealership.

Negotiate.  Once you’ve made your final decision – after all the above steps of course – get a price offer on paper. Tell them you want their best offer now, and then let them know you will think it over. Take the offer call, email, etc to other local dealers to get a second price on a similar vehicle. Once you have a price lower than your original offer, take that back to your dealership. It may take a bit of time with all the going back and forth, but it will be worth your time to get the best deal possible.

Buying a new vehicle is a big commitment; besides buying a house, it’s one of the biggest purchases most people will make – and the most stressful. So making sure you head out with a list of questions to ask before your purchase will help you make the right decision in your new car purchase. Here’s a list of questions to ask before your purchase:

Does the dealership have any  demo’s for sale?  If you have your heart set on a vehicle that’s almost new, a dealer demo – used for test drives -would be a great option. Most new car dealerships do re-sell their demos, and they usually only have a few hundred miles on them. Not only did the dealership take the depreciation on the vehicle, but most of the time they will  still include the new vehicle warranty.

How long can I test drive a vehicle?  Before talking price or showing an interest in a particular vehicle be sure that the vehicle fits your needs by taking it on a test drive. Most dealerships will allow you to drive it as long as you need to, so you can get a proper feel for how the vehicle drives, and if it fits you.

Have you done any work to the used vehicle? Some used cars can sit at a dealer lot for weeks – or even months. So  most likely there has been some type of work done to the vehicle, it’s always good to get a list so you know what any issues may be, and also if they’ve already done it, you know it will save you money in the future.

If it’s a CPO (certifield pre-owned) Vehicle, can I see the inspection report? Buying a certified pre-owned vehicle is a huge selling point for used  cars. Usually the car came to the dealership you are shopping at, brand new. They are usually  low-mileage leased vehicles that have been returned and have been maintained and inspected at the dealership. They offer a like-new car warranty. Asking to see the inspection notes though, to see what type of mechanical condition the vehicle is in, is a smart choice.   It will help you get an idea of future service needs as well.