While some experts portray car purchasing as being at the mercy of your local dealer, there are a variety of approaches that can help you not only be a responsible car owner but also get the best value without overpaying for your personal vanity.
Those days of looking, driving, and shaking hands are over! It all comes down to recognizing the difference between emotional and rational car purchasing. Let’s take a few moments to reassert our control, slow down our roles, and reconsider auto purchases by thinking rather than feeling.
LET’S SIT CROOKED AND TALK STRAIGHT FOR A MOMENT
Here are some real valuable steps to take to help you become your own first line of defense and feel good about it.
AUDIT YOUR EMOTIONS
Start by auditing what purpose and value are you buying your vehicle for. Always buy on functionality! Yes, the sunroof, the roof rack and step sides are awesome looking, the Bluetooth features along with all its loud decorations, all of that means nothing if you’re driving by yourself in the vehicle with just you, your cup of coffee and your cell phone. Buy on functionality first! If you may go off road once or twice a year, you don’t need a 4×4. Rent one for those 2 trips and save yourself a ton of money.
UNDERSTAND WHAT YOU’RE BUYING
Ask yourself how many miles a year will you be driving? If you’re buying a car to drive less than 7,000 miles year, you need to understand that that vehicle will be dry rotting and deteriorating by putting it to sleep. Make sure you know how you’re going to use your vehicle and for what purpose.
Once you get past your audit and you have made up your mind, make sure you do the research to know what the resale value of that vehicle is. If the vehicle does not a have a strong demand for resale, what will you do if you get into a collision and the vehicle is totaled? Would you be ok with getting back a payout from the insurance for 35 to 40 cents on the dollar because you bought vehicle based on looks and emotions but it has no core value when you want to sell it or have to give it up.
DO THE MATH
It’s simple to buy a vehicle intelligently once you’ve gotten past all of the emotional wants. Call your insurance company and ask how much coverage for that year, make, and model of automobile will cost if you buy it. Remember to factor in tax, title, licensing, and doc fees if you’re buying from a business, such as a dealership. The fees are common and might range from $1,800.00 to $3,000.00 depending on the tax bracket in your state. So, a $10,000 budget is really $7,000 to $8,000.00. Make a provision for it in your budget. None of these costs will apply if you’re buying from a private seller.
DO YOUR PART
If you’re going to purchase from a private party or dealership, you really only need a few but smart steps to take.
- 1-Go look at the vehicle, drive it good. Not just around the block but on the highway for speeds of 60-70mph to listen, feel and recognize anything abnormal.
- 2-Get a carfax, they are not that expensive. You can prepay for 3-5 at a time for discount rate. If you’re buying from a dealership, they will provide you one for free anytime you ask for it.
- 3-Have your trusted auto repair shop perform a full buyer’s inspection of the vehicle before you buy it. Sure, you can kick the tires and open the hood and turn on all the light and play with the windows, but is that really enough? An expensive OBD reader will only tell you if it has a current code—(Which can be erased easily and you will never know) A buyer’s inspection will go through the vehicle from bumper to bumper and advise you of anything needed now and coming soon. From brakes to tires to body damage, you will know it all before you buy it. The cost can range between $45.00 and $75.00 depending on who is doing it.
Buying a car right now is not only a difficult but also a costly procedure. If you work from home, it’s preferable to put off buying a car and instead experiment with a more carefree lifestyle. If you really must buy a car, think about all of your possibilities outside of your local car dealership, including internet platforms such as Facebook Market Place, Carvana, and Vroom.
MAKE SURE YOU PRACTICE YOUR MENTAL HYGIENE SKILLS AND TAKE CONTROL OF YOUR EMOTIONAL BUYING POWER.THE OBJECTIVE OF A CAR IS NOT TO BUY GAS, THE OBJECTIVE IS TO GO SOMEWHERE