For the first time this year new car registrations have risen, which shows us that after months of lockdown, the car industry is finally starting to pick itself back up.
This is great news if you’ve been thinking about buying a new car. But, whether you have the cash to spend or looking at places such as Go Car Credit for financial aid, there are certain things you need to consider.
Below, we’ve listed the four musts you have to consider before buying a new car.
The first item on your to-do list when buying a new car is to sit down and work out a budget. Now, if you’re paying for your vehicle in one lump sum you’ll know exactly how much you have to spend. However, if you’re buying your car with monthly instalments you need to take a look at your outgoings and work out how much you realistically have left to pay out for a car, without affecting your day to day life. You also need to look at how much the car would cost to get fixed and how much replacement parts are, because if they’re too expensive, this could cause serious issues in the future.
A hidden cost many overlook when buying a car, this is something you need to factor into your budget from the start. It’s all well and good that you can afford a certain car and still have money left over for the month, however, before heading off and buying it, make sure you shop around for insurance. This is something that always shocks people with elements such as the area you live in and age having huge a huge effect on the amount you’ll pay.
Researching car options
You may have a car in mind that you want, or have an idea of what you’re looking for. However, chances are, for many of us, we do this with minimal knowledge. Therefore, it’s important to sit down and research the variants available. Do you want three or five doors, what size engine will you need – this will all come down to how much you’ll be using the car. Also, take a look at review websites to discover the general feel of the cars you’re looking at.
During your research make sure you check out the costs, as this, much like insurance, can be something most overlook. If you can’t afford to run the car, what’s the point in having it? So, be sure you know how often you’ll need to fill the engine and roughly what that will cost.
Now, don’t wait any longer, step outside and go and buy that car you’ve been dreaming of in lockdown.