Here’s How You Can Find The Best Car For You
If you haven’t bought a car in years or are new to the buying process, it can be hard to figure out where you should begin. To find the car to suit your needs, it takes a little research and planning. Once you know what kind of car you want, you can then decide whether you want to buy a used car, a new car, or rent a car.
Step 1: Assess Your Needs
The right car for you depends on what you expect from it and who you are. Some people like to make a statement with their cars, and some like to take their car for spirited weekend drives. Here’s where practicality may take a back seat to how the car makes you feel.
However, if you need a car for daily duties, your trump flash should be functionality. Some of the practical factors you must consider are as follows:
– Do you need the car for a long commute?
– How many passengers do you want to accommodate?
– What cargo capacity are you looking for?
– How important is fuel economy to you?
– What are the features you would never want to compromise on?
– What safety features are most important to you?
Step 2: Fix Your Budget
You may need to think about financing your car purchase or lease unless you decide to pay cash for your vehicle. Set an amount that you know you can really afford to allocate towards paying for your car every month. Generally, it is recommended that your new car payment each month should not exceed 15% of your monthly take-home pay. Aim for a monthly payment that’s less than 10% of your take-home pay if you’re looking to rent a car.
Step 3: Decide if You Want to Buy or Lease
Both buying or leasing have their own pros and cons. For instance, buying a car is initially more expensive, and the monthly payments are high. But once the loan is paid off, you will be the owner of this car for as long as it works. On the other hand, a lease requires little or no money down and provides the option of lower monthly payments. However, when the lease ends, you won’t have a car.