New cars and upgraded models are being launched almost every day by automobile manufacturers. Although this provides the customers with a wide range to choose from, it also significantly increases their hassle of choosing the perfect car. Since car is an expensive utility, it cannot be bought or upgraded frequently and the customer has to stick to his or her choice for at least a couple of years. This article will help the readers to buy car so that they don’t end up disappointed afterwards.
Step 1: Do Research
Make a budget: The showroom cost of the car shown in advertisements is only a fraction of what you will spend in ownership of the car. Other than taxes, you also need to consider the depreciation value of the car by looking at other models manufactured by the company if the option they are evaluating has been recently released in the market. Fuel efficiency is another important factor to consider along with the service costs and amounts paid for insurance premiums. All these factors will give you an idea about the cost of ownership for the car.
Type of car: Analyze your present and future needs before deciding on a certain category. For example, if you have a small family then you need not go for a multi-utility vehicle (MUV) which is designed to seat 8 to 9 passengers. Think of other options as well such as whether you want more power or mileage, how long you are planning to keep the car or if you are planning have kids in the near future.
New or used car: While buying a car most people get confused at this point because high depreciation values can provide with exciting deals and offers on second hand cars. You need to decide the whether you want to buy a new car or venture into the used car territory beforehand to save time and effort.
Type of fuel: In comparison, cars with diesel engines have a higher price than cars which run on petrol but they provide with greater power and efficiency to you as well. On the other hand, there are hybrids and electric cars which comparatively use much lesser fuel but need to be charged regularly. So, if you are planning to take long drives regularly then electric cars may not be the best bet on the other hand they can be much cheaper for daily commuting purposes in comparison to cars which run on petrol or diesel.
Features: You should think about what options you want in your car. With a plethora of technologies such as airbags, anti-lock braking system (ABS) or traction control systems cars have become much safer. Although some of these features may increase the cost, many of them can save your life in case of accidents. Other options such as driving modes, sunroof or parking assistance may be chosen by the user depending on their preferences and requirements.
Generation of the car: It is usually seen that customers cannot find parts for their car once the model has been discontinued. The resale value of such cars also drops dramatically. Since car models are upgraded almost every year with important changes being made in 4 to 5 years, it is recommended that you avoid cars which are about to be discontinued or upgraded entirely.
Manufacturer reliability: Find out about the seller’s future plans in Singapore, a company may just be starting out and may close sales in the country if it doesn’t make good profits. You will find it very hard to get parts and repairs if such a thing happens to your car’s manufacturer. The company’s reliability should also be checked through customer reviews as it helps in getting the service costs and durability effectively.
Verify the information you get: Many advertisers and salesmen make false claims to sell you the product. Make sure that their claims are true before finalizing the recommended model. Unauthorized dealers may also make tempting offers but it is important to avoid them as the price difference will save you some money initially but will end up in larger maintenances and hassles in the long term. Although, during certain seasons the car rates drop automatically as there are multiple discounts offered due to reduction in sales, you can trust such offers once you have verified them.
Step 2: Dealership Expertise
Take a test drive: Your friends and experts may suggest you a certain car but you should always take a test drive of more than one car by yourself choosing the best option. It’s no use buying a car in which you are not in a comfortable driving position no matter how great its performance is. You should also check the responsiveness of the engine, steering, breaking etc. These factors cannot be checked effectively in a one kilometer test drive on an empty road, you should take the cars for a long ride in traffic as well as on open roads and check their performance uphill and downhill as well if possible.
Have a second opinion: Bring along your wife, friend or any relative whom you can trust to give a genuine opinion. Even if they don’t have in depth knowledge about cars, they can offer you advice and comments which can be greatly useful. Having a second opinion also helps in determining any faults which you may have overlooked unknowingly.
Take their commitments in writing: Salesmen and dealers generally promise you with multitude of things ranging from discounts and accessories to free services and insurance which are often not delivered later. It is thus recommended that you get all of their promises in writing on a letterhead with their sign below before taking any decision. This will also help you in evaluating the options clearly as you cannot remember everything which each dealer or salesman said.
Step 3: Buying the car
Consider the best offers: Compare the final quotes and discounts along with other offers given by different dealers on the selected model and narrow down your choices. It’s important to buy car once you have pitted these offers against one another effectively.
Financing Options: Consider the rate of interests by different companies and note down if they charge compound or simple interests. Fish for the best EMI’s available so that you don’t end up paying too much interest or half of your payment each month to save on interest. Many companies also offer loans against assets such as fixed deposits, equity bonds etc. at a lower interest rate. Businessmen may also have more advantage in leasing as compared to financing. Therefore, you must consider all options beforehand carefully.
Final evaluation: Check on exchange offers if you have an old car. Not only will this save money but a no claim bonus can also allow you to transfer the insurance premiums from your old car to the new one. Check for the car once more before it is sent for registration as many verified dealers may sometimes sell you a damaged car after patching it up. Ask for extended warranty and accessories before signing the deal finally.
Step 4: After getting the car
Upgrades: If you are planning to upgrade tires, hood or other parts through replacement for getting better performance or looks then you should do so immediately. New tires and flawless body parts will get exchanged for a greater value and save you a lot of money on upgrading the car.
Guidelines and instructions: Read the user manuals and instructions carefully. Many manufacturers advise you to keep the speed below a certain limit for smoother performance over a longer period of time. The instructions manual may also offer other important advice necessary for the upkeep of the car. The warranty and insurance may not work if the car is damaged due to ignorance so it is strongly advised that you read those manuals carefully for a better experience.