Question You Should Ask When Buying a Car
Making the decision to buy a car can be exciting, but it’s important not to jump the gun before asking the necessary questions to make sure you’re ready for the next step. There are many factors to consider when searching for your next car. Fortunately, we offer a variety of ideal questions for you to ask to make sure you are ready to ride off in your new car:
What’s Your Budget?
The first step to take before you can begin car shopping is establishing a budget. You should identify a budget based on how much you can comfortably afford for car expenses each month. The price tag of the car is one expense to consider, but there are other expenses that come along with buying the car. Look beyond the price tag and include expenses such as insurance, maintenance, and fuel for the car. All of these expenses should fit comfortably into your budget without leaving yourself tight each month.
How’s Your Credit?
Having a good credit history and excellent credit score can help you get the lowest rates on auto loans and could even save you money on auto insurance. Before shopping for your car, double check your credit report. Is your credit score where you want it to be? Have your past payments been on time? All of these things should be considered to make sure you can secure the best rates for the lowest payments.
Should You Buy a New or Used Car?
When buying a car, it’s important to decide whether you plan to buy something used or brand new. Before making a decision, it helps to compare the benefits and risks of both. Used cars are normally more affordable and can offer you lower payments, but you run the risk of inheriting the mechanical or cosmetic problems of the previous owner. Buying a new car can give you peace of mind knowing the vehicle history starts fresh with you. Most new cars also come with warranties that can cover certain mechanical failures up to a certain mileage. There are pros and cons of buying both new and used, so carefully think over each one before making your final decision.
What Technical Features Do You Want?
Everyone has certain bells and whistles that they prefer their car to have. When searching for your car, make a list of any features you would want. It helps to break the list down into items that are nonnegotiable, and items that would be nice to have.
What Does the Vehicle’s History Report Look Like?
One of the most important questions to ask when purchasing a car is about the vehicle’s history report. The history report will give you any information you need to understand the car’s full picture, including previous owners, title status, mileage, and much more. Red flags that you want to keep an eye out for on the history report can include any of the following:
- Recalls: Make sure the car you’re considering doesn’t have any recalled parts that haven’t been replaced.
- Odometer: The vehicle’s value is directly related to the number of miles it has been driven. The higher the miles, the lower the value.
- Salvage Title: A vehicle becomes salvage title when it sustains damage so severe that it’s declared a total loss by the insurance company. The company then sells the title to a repair company where the car is rebuilt. Although the car is repaired, salvage builders have been known to cut corners and can’t guarantee that the car still meets its original safety specifications.
Has the Car Been in Any Accidents?
Knowing the incident history of a used car before buying it can save you from expensive setbacks later down the road. It’s important to ask about any accidents the car has been through no matter how minor, because despite the most thorough repairs, the damage can resurface and become a problem in the future. Consider asking to take the car for an inspection by an auto shop. The inspection may help you get an idea of any problems that may arise later on as well.
How Much Will it Cost to Insure the Vehicle?
Now that you have settled on the car of your choice, it’s time to get in touch with insurance companies and get the best and most affordable rate. Keep in mind that factors such as age, marital status, place of residence, driving history, and credit score can affect your auto insurance rate. The age and type of car you drive can also affect your rate. The more expensive the car, generally the more it costs to insure. Newer cars are often built with more advanced safety and anti-theft features that may bring down the cost of the insurance. Comparison shop until you find the best rate to fit into your budget.
Never be afraid to ask a lot of questions, especially when it comes to making a big decision like buying a car. Asking questions can show the salesperson that you are educated and a serious buyer while ensuring there are no surprises that spring up with your new car. Prepare yourself by making a list of the questions you want to ask to make sure you get the best deal and car that fits your needs.
Buying a car is an important purchase. Let us walk you through the process and show you how you could save hundreds or even thousands of dollars on your next vehicle purchase. With great rates, no hidden fees, and convenient payment options, our Auto Loans make buying a car easy and affordable. Our Auto Loan Calculators help you determine how much you can afford. If you’re ready to start the car buying process, apply for an auto loan online, over the phone, or request an appointment at one of our branches.
At Robins Financial Credit Union, our mission is to enhance the financial well-being of our members and community. We honor this commitment by providing educational content to help you make the most of your finances. Read our other blog articles to help you gain the financial knowledge you need to succeed.