Buying new car:
As a buyer it is always advised to do some ground works before visiting the dealer or car showroom. You should always emphasis on the following important points as your deciding factors:
- The size of the car which best suits your family needs.
- The cost of acquisition of the car, finance charges, registration charges and taxes.
- The cost of maintenance includes parts cost, service cost.
- Mileage and comfort would be your prime consideration if you commute for long distances.
- The most essential feature that you would like to have like ABS, Air bags, and other nice features such as GPS Navigation, Sun-visor or music system.
- Also take in account the sole purpose of buying the car. If you are buying a car for office purposes then do not waste your money on SUV’s. Go for more fuel efficient cars or compact cars.
- The major draw back in owning a new car is its depreciation value. New cars value depreciates as high as 20 % in the very first year of purchase.
Buying used cars:
There are various deciding factors that need to be taken care of when you are buying used cars.
- Have the car properly checked and inspected by the third party mechanic. Make sure it is running in the perfect condition.
- Make sure that the car is tuned properly unless it will give you poor fuel efficiency.
- Ask for the best price and always do some bargains.
- Check the car history and obtain the car fax.
- Check with the Vehicle Registration Authority to make sure that the car is not stolen. This is very important in case you are buying it from the private owner.
- Check the legal papers like transfer of ownership.
Auto Insurance is a must to have whether it is a new car or used ones. In case of used cars the cost of insurance is less as the book value of the car is less.
If you are planning to take loan to finance your car it is always suggested to go for short-term loan and opt for financial institutions which offer you lowest rate of interest.
In the nut shell, for buying a car you have to have in-depth knowledge of the vehicle you are buying in every respect. Always look for some special offers with the dealers. A negotiation of price is absolutely needed especially with the new cars.