It can make practical sense to delay replacing your old car until the last possible minute, but you should keep an eye out for new and used car deals far in advance, in case you spot an irresistible deal that may not come around again when you’re in desperate need of a replacement vehicle.
The improving state of the economy is thankfully extending to the motor industry, so now may be the best time to make a new car purchase, but keeping an eye on the financial markets and share prices of auto manufacturers could reveal even more appealing times in the future, when car makers and dealers could introduce very competitive offers to keep products selling in difficult times.
If you’re keeping an eye on the latest developments in the auto industry, it could also make sense to wait until new products are released before buying a new car, as you won’t want to rush into a purchase only to find out an improved model has been released soon after. Reading trade magazines and bookmarking industry news websites can keep you informed about the biggest developments shaking the auto world as soon as they hit the headlines.
Research is key to securing the best deal on your new car, and a good working knowledge of the prices certain makes of cars fetch could prove invaluable if you find yourself getting taken for a ride by an unscrupulous dealer. Setting a budget can be essential to making sure you don’t overspend or allow yourself to get tempted by vehicles that are out of your price range, and you need to remember that you will be paying more than just the asking price – there’s also the issue of how much fuel costs per gallon and how your insurance will be affected. The price may not even include some features as standard, meaning you could be paying extra to have a CD player or air conditioning installed.
Buying used is sometimes a better option if you’re worried about the uncertain financial climate, especially as the value of many vehicles will depreciate by half within just three years. If you are buying used though, you will also need to inspect the car’s condition thoroughly before agreeing to a price to make sure it offers true value for money. If the car is in need of services such as windshield repair, this should be reflected in a lower price.
Paul Buchanan writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.