How to Pick a Car You'll Love
Vehicles are a major purchase, so being smart about how you buy can make a big difference. Here are a few ways to make sure that you're going to love the car you get for years to come.
New or Used
At the beginning of your car-buying journey, evaluate whether it's better for you to get a new or used car.
For one thing, the depreciation is very different. On average, a new car depreciates 15-25 percent per year. Since depreciation is a curve, not a straight line, buying used means you've already skipped the first costly years. If this is an area of concern, research the resale value of the vehicles you're considering.
Buying new means you can get the latest and greatest, but you will pay extra for it. And don't forget, you also have to pay sales tax. Another option is to find a used car that has great reviews and all of the bells and whistles you care about.
Determine What You Can Afford
Whenever you can, have some money you can put down on your purchase. It can improve everything from your ability to qualify for your loan to the amount of interest you'll pay over time. If you have a trade-in, take a look at it's Kelly Blue Book value so you have an idea of what you'll get for it.
Next, take a look at your monthly budget and think about what payment you can afford. Don't forget to add in maintenance costs.
A great way to get a better sense of the right price range is to get a pre-approval for your auto loan. A loan officer can be a great resource to help you evaluate your financial position.
Set Some Priorities
Do you care about having an eco-friendly car? Do you frequently have multiple family members as passengers? Make a list of your priorities, even if you don't have a specific car in mind.
Your dealer, like Enterprise Car Sales
, has experienced representatives who can make suggestions based on what matters to you. Their job is to know their 250 makes and models of cars, trucks, vans and SUVs so they can help you make the best decision. You may even test-drive and fall in love with something you hadn't even considered.