| m-link"> | | | | 6) How long will I keep this vehicle? |
| | | | If you are one of the millions who trades cars out |
| Why are you trading it in? There are various | | | | every 2-3 years, you will need to do some research |
| answers, of course, but one of the most perplexing | | | | regarding depreciation. You will want to seriously |
| responses is, It’s not really what I | | | | consider whether it is better to get a new one or a |
| wanted. It begs the question, Well then why did | | | | low mile used one. |
| you buy it in the first place? Whether they know it | | | | Those who keep their cars for 5 or more years need |
| or not, the most common truth-serum answer is | | | | to worry less about depreciation and more about |
| that they just weren’t prepared before they | | | | longevity and maintenance costs, thus their research |
| went shopping. | | | | will be completely different. |
| Buying a new or used car is a very important event. | | | | Also, length of ownership will help you decide whether |
| It is normally a long term commitment, most likely | | | | to take the low interest rate or the cash back |
| expensive, and represents a place where you and | | | | incentive when considering new cars. That zero |
| your family spend a lot of your time. | | | | percent financing is very tempting, but if you’ll be |
| Just as most people don’t get married or buy a | | | | trading in 2 years, you probably won’t save as |
| house or go to a particular college based upon impulse, | | | | much money as you would if you take the cash |
| so too should car buying be treated with respect and | | | | rebate instead. |
| given a proper amount of preparation. | | | | 7) Will children be coming of age soon? |
| There are things that people can do on the internet, | | | | It isn’t a common consideration, but for those |
| through reading magazines, by asking friends, and | | | | with 13-15 year-olds, it should be asked. Do you really |
| other avenues to prepare for car shopping. Here, we | | | | want your child practicing with their learner’s |
| will discuss the internal, primal, directionally focused | | | | permit on your Mustang GT? |
| process of digging deep and asking a few important | | | | Also, will you need to add a vehicle for that very |
| questions before embarking on the automobile hunt. | | | | reason? It is something to consider in budgeting |
| 1) How many people will be riding (NOT how | | | | — are you going to be buying your kid a car in |
| many people are in the family)? | | | | the near future? |
| Consider your driving habits and future driving plans. | | | | 8) Will it fit every driver? |
| You may have a family of 5, in which case a | | | | That Mini Cooper sure would be nice, but will my |
| mid-sized sedan should work. But do grandma and | | | | 6’4 husband enjoy it as much as me if he |
| grandpa like to ride to school events with you instead | | | | has to drive it? |
| of driving themselves? Does little Timmy need to | | | | Again, not a common consideration, but it has to be |
| take four of his soccer teammates to practice | | | | taken into account if it applies. |
| sometimes? Are we going to fit all of the family and | | | | 9) What are my motivations? |
| luggage when we head to the Grand Canyon this | | | | Actors need to know their motivations before taking |
| summer? | | | | on a role. Car buyers need to know their motivations |
| 2) Will it fit in the garage? | | | | before buying. |
| A Ford Excursion will not fit in 13% of the garages in | | | | If you get the urge to get a new sports car |
| the US. How big is yours? | | | | because your neighbor just parked her new Dodge |
| 3) How much can I really afford? | | | | Charger in the driveway, you should tread very |
| Do a true, honest, forward thinking budget. Can you | | | | carefully. Car buying can be an impulse decision. In |
| really afford $300, plus the extra gas you’ll pay | | | | many cases, these impulses lead us down the wrong |
| for in the new SUV, plus the full coverage insurance | | | | path and create bad situations down the road (literally). |
| instead of your liability? | | | | If your motivation is that your current vehicle has |
| If a car stands out, could you stretch to $450 a month, | | | | problems or is old enough to start having problems |
| even though you only want to spend $375? | | | | soon, that is a good motivation. If you are expecting |
| People get credit problems through their car loans | | | | a child and need something bigger, that is a good |
| because of various reasons — divorce, loss of | | | | motivation. If you changed jobs and need better gas |
| job, unexpected medical expenses, etc. Then there | | | | mileage to commute, that is a good motivation. If you |
| are others who simply bite off more than they can | | | | have lots of money and darn it, you want a new car, |
| chew. | | | | that is a good motivation. |
| 4) Who should I consult before shopping? | | | | If your nemesis at work just bought a full ton diesel |
| Just about everyone knows someone who knows | | | | and you can’t let him have the biggest, baddest |
| something about cars. Whether they are or have | | | | truck in the parking lot, you should probably wait a few |
| been in the car business or if they have a lot of | | | | days and see if the feeling wears off before heading |
| experience buying, they are assets. If you are not | | | | to the Dodge dealership. |
| one of those people, there is no shame in asking | | | | 10) How soon do I want and/or need a new car? |
| advice or looking for recommendations on dealers, | | | | From a money saving point of view, this is the most |
| makes, models, or any other aspect. | | | | important question to ask yourself. Fight the |
| There is also no shame in taking a third base | | | | society’s trend towards we want what we |
| coach with you. If Uncle Rick used to sell cars, he | | | | want and we want it now. If you want a new car, |
| has an insight into the business and can help you sniff | | | | but you can wait a few months, order it. Most |
| out tricks or scams at the dealership. Ask him to | | | | dealers and manufacturers will custom order one for |
| come along. | | | | you cheaper than if you buy it from the lot or have it |
| 5) What options are must-have and | | | | located. |
| what options are just nice? | | | | For used car buyers, if you have time, hold out for the |
| This is something that seems pretty simple, but often | | | | best deal. Search the internet diligently through the |
| people will fall in love with a car, then discover later | | | | various classified sites and dealer websites and wait |
| that it didn’t have the side-curtain airbags that | | | | for that great deal to come along. Be ready to hop |
| you swore 3 months ago you wanted to get. Make | | | | on it, though, because great deals are there, and then |
| a list of what you need and what you want and bring | | | | they are gone. Happy car buying! |
| it with you. | | | | |