Purchasing a new car is a key financial decision that you shouldn’t rush. It requires more than just a thought, as you’ll have to deal with your choice for the next few years. The purchase process is often lengthy, so the more information you have, the higher your chances of making a smart choice. As you consider how to go about the process, here are eight factors you must research before you buy a new car.
1- Price Range
The first step when thinking about a new car is establishing a budget. Starting with a reasonable budget helps you narrow your choices down, making it easy to compare vehicle within a particular price range. You should also factor in other costs in your budget, including fuel, maintenance, and insurance.
2- Features
Different manufacturers have varying features to offer. Consider what you need and compare options to see what features they have. Popular features to look for are heated seats, navigation, remote entry, Wi-Fi connectivity and charging ports, and leather seats.
3- Safety
One of the most crucial factors to consider when purchasing a new car is safety. Although most modern vehicle is considerably safer, experts consider some models safer. Some safety features you should look out for are traction control, electronic stability control, antilock brake system, curtain and console airbags, and safety alert systems.
It’s also advisable to check the vehicles ’IIHS crash test ratings. Every year, IIHS (Insurance Institute for Highway Safety) enforces that each car should have collision tests. Checking this rating will help you determine which option is safer in the event of an accident.
4- Warranty
A new car may be durable, but you want a car that will serve you before it becomes a liability. It’s therefore important to consider the warranty period where maintenance costs are not out-of-pocket.
Every new car has a manufacturer’s warranty. Most warranties cover the powertrain, transmission, and engine. Some also cover roadside assistance, corrosion, and emission systems. The wider the coverage, the better for your pocket. If you’re unable to find this information online, you can ask the dealer to expound on details like the coverage and duration.
5- Mileage and Fuel Economy
Vehicles with a higher rating when it comes to miles per gallon are more cost-effective. The more miles you can get with a gallon, the lower your fuel expenses will be. The EPA and U.S. Department of Energy offer valuable resources you can use to compare different models’ miles-per-gallon ratings. You can also check the fuel costs so you know what to expect.
6- Electric, Hybrid, or Gas-Only Options
Electric vehicles and hybrids are often more expensive upfront but are more cost-effective to maintain in terms of fuel. If you have a short commute, compare plug-in hybrid vehicles to achieve fuel economy.
7- Maintenance Costs
Some new vehicles have complimentary maintenance services like tire rotation and oil changes. If available, confirm the coverage duration and the number of times you can get the services. Check the manufacturer’s website to see the right maintenance schedule.
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8- Test Drive Options
Test-driving a new car makes it easy to tell whether it’s the right fit. It prevents you from overlooking features that could make driving inconvenient for you. If you have the test drive option, you can optimize the chance by checking aspects like smooth handling at left and right turns, the impact of different braking modes, suspension, and how the vehicle handles large bumps, and the acceleration up steep slopes.
There are many factors to consider before buying a new car. Doing your due diligence will ensure you get a vehicle that suits your needs and lifestyle without overstretching your budget. Researching these eight aspects will empower you to make a smart decision.