Understand Your Needs
If you need a car as a statement, or to enjoy a hobby, then you don’t need to worry about practicality. But, if you need a car that will perform daily duties, you need to assess things like the number of passengers you will carry, the surface you drive on, commute distance, fuel economy, all-wheel drive requirements, necessary features, cargo capacity, safety, and more.
Set A Budget
Whether you’re paying cash or taking out a loan, you need to assess what you can afford realistically. Do not spend more than 10% of your monthly take-home pay on car payments. Because another 7% of your income will go towards insurance and fuel.
Lease Or Buy
Leasing lets you drive a more expensive car for less money, and you could drive a new one every few years. But at the end of the term, you’ll have no car. If you buy, it will cost more, but after you complete payments, the car is yours as long as you can make it last.
Consider Other Cars
Unless you have your heart set on a particular make and model, you should review other vehicles in the same class. New models loaded with tech and features arrive regularly, and you may just find something that’s a better fit.
Costs Of Ownership
Some cars are cheap to buy but expensive to own. They also have different rates of depreciation. There’s also insurance, maintenance, and fuel economy to think about. Understand the long term costs of a car before you commit.
Find Cars
Once you have a shortlist of cars that you’re interested in, check online inventories before heading out to dealerships. Start by looking for cars located closer to you, and then widen your search in case you don’t find any options closer to home.
Test-Drive
Once you find a car that fits your requirements, call, text, or email the dealership to confirm availability and schedule a test drive. Schedule a few appointments back to back to make comparing cars easy. Examine the vehicle in situations you’re likely to encounter daily. Once you’re done, it’s time to select a car based on your evaluation.