3 Top Considerations When Buying Your Next Vehicle
Most of us couldn’t imagine life without a car, whether it’s for your commute, school runs, college or leisurely road trips. When it’s time to get yourself a new (or first) car, there are plenty of considerations to make to get the best option for you.
Used or new?
One of the critical things to decide is whether you’d like to purchase a used or a new car. Some people merely enjoy buying new for that luxury factor and find it desirable to be the very first owner of the car. There are naturally pros and cons of each option depending on your circumstances. New vehicles come with a good warranty and sometimes a lower interest rate when choosing a financing option. With a new car, you’ll have minimal maintenance issues for a least a few years.
Though a brand spanking new car is an appealing idea, there are lots of advantages of buying a used car. First of all, it’s much cheaper to buy a used car, and you’ll also be able to get yourself a less expensive car insurance package. Owners who buy new will take a real hit in terms of depreciation, but those who buy used won’t suffer these financial losses. There are plenty of top quality used cars out there, and you can set your standards in terms of mileage, previous owners and performance.
Finance or pay upfront?
When you pay upfront, you don’t have to worry about having a finance check nor a set mileage limit. You own the car immediately and you’ll pay no interest. Regardless, many people opt for getting a car on finance as opposed to paying upfront. Getting a car on finance involves monthly payments over a set period of time according to your contract. Finance is an attractive option for those who are unable to pay a lump sum upfront or who would prefer not to eat into their savings. A monthly payment can be a more manageable option that you can track alongside your other bills. Companies like Motormill offer some great finance packages on a range of high quality used cars.
Hybrid cars are becoming an increasingly popular choice for recent car buyers. These cars combine a conventional diesel or petrol engine with an electric motor. Hybrid vehicles are a beneficial choice because they produce less C02 emissions, and they also use up less fuel. There are many different types of hybrid cars from parallel hybrids to plug-ins. Range extender hybrid cars will only use the engine to charge the batteries, the rest of the time the electric motor powers the vehicle. To reduce your carbon footprint and save on fuel, a hybrid car is a great choice.
As with any significant expense, budget your options before you start shopping. Factor in running costs and insurance to get the most accurate figure possible. When it comes to car insurance, make sure to check if you are eligible for any discounts.