It’s that time again – time to upgrade your vehicle to something a bit newer and more reliable than your current ride. You current vehicle is old, outdated and starting to slowly, but surely, break down. Before you get swept away and blinded by all the new, shiny and luxurious vehicles on the market, there are a few things you need to consider prior to taking the plunge. Contemplating how much you are willing to spend, whether or not you want to buy a used or new vehicle and researching prospective sellers will help to ensure you get the best bang for your buck and exceed all of your driving needs.
One of the most important things to consider when purchasing a new or used vehicle is how much you are willing to spend. Often times, consumers will lunge into a purchase without considering how much they are going to owe – stacking up large lump-sum monthly payments that can be challenging to pay back if they aren’t budgeted for appropriately. According to car buying specialists, a good rule of thumb to follow is to allocate twenty percent – or less – of your monthly household income to all of the vehicles in your household. This allocation should not only cover monthly car payments, but the cost of operating expenses as well.
New or Used?
Another thing to consider when purchasing a car is whether or not you should buy new or used. There are definitely pros and cons to both – so ultimately, it comes down to budget and personal preference. Your purchasing power when buying used is a bit greater; often times, you can get a nice used vehicle with the same specs and features as a new one for a reduced price. A new vehicle, such as a new Subaru Legacy in Chicago, for instance, typically offers a greater warranty, lower interest rates and better roadside assistance, however.
Aside from considering your personal budget and contemplating the advantages and disadvantages of both new and used vehicles, it is important to do your research. Not only do you want to research cars for the best make and model, but also research dealers. Which dealers are willing to negotiate the best price? Are there particular dealers running sales on select vehicles of interest? Are they willing to work with you on both lease and financing options? The car buying process will be much easier if you do your research and come in prepared to purchase.
For more information on buying a new Subaru Legacy in Chicago. Visit Hawk Subaru to know more details.