Subscribe for Updates

Read Endeavour Magazine

Coffee Break

Buying A Car: The Ins And Outs

There comes a time when we all need to grow up and take on responsibilities. It often includes moving out of the parental home and fending for yourself, having a job or career, and buying a car. A car essentially, should be one of the easiest things to do when it comes to moving on, but some people struggle with the big decision they need to make. With that in mind, here are some of the basics you need to think about when the time comes to purchase a vehicle for yourself.

Image source

Think about the type of car you need

One of the first things you need to consider is the type of car that you need. Do you need something that is fuel efficient? Do you need to do more city driving than out on the motorway? Perhaps you need a car with a big boot or five doors instead of three for ease. Knowing what you want out of a car, even if it is as specific as the colour you want, will make the shopping experience for your new vehicle much easier.

How will you fund it?

Budget is something important to know and working out how you plan on your funding your vehicle purchase. There used to be a time where everyone would pay for their vehicles in full, but these days, as a vehicle is a depreciating asset there are more options that you can consider. Many dealers and manufactures do 0 deposit finance, which can make things a little easier in terms of spending. Financing a car is one of the most popular ways to buy one these days. It can give you the flexibility of a low monthly payment and a chance to trade it in and upgrade after a few years. You could also consider leasing, or if you want to keep the finance away from the car a personal loan may also be an option. Look at what your budget is as a whole and monthly.

Are you buying a new or used vehicle?

The next thing to think about would be whether you want a brand new car or a used vehicle. The whole thing can be a little overwhelming and often the best advice would be to look at both options. Your budget may stretch for a new one, but a used vehicle could work out to be better value. This is where specialists like Beck Evans could help. The best thing to do would be to know what you want and then explore all options.

Think about your future plans

Finally, think about your future plans and what you may want to achieve moving forward. If you think you may need a car that is good on consumption for more travel in the future make that decision now. Or if you want the flexibility to change after a few years because you know your career might progress or you may move and travel more, for example, then factor that into the purchase now. Knowing what your future plans are means that you can factor in the decisions when it comes to buying a car. The car you buy now isn’t forever, but it needs to suit your needs today.

Let’s hope these tips help you when it comes to buying a car.