After the events of the last few years, it seems many of us have made some big changes, from moving house to quitting our jobs. Another major change that many of us are considering is changing our cars. After a few years in the same model, it can feel like it’s time to swap to a new motor.
If you’re among those who are thinking about upgrading, it’s important that you know what to look out for before you go ahead and buy a different car. After all, this is a significant purchase and you need to make sure that the car you choose is right for you.
To help you, take a look at this guide. We talk you through the key points to consider and reveal what to look out for.
Why upgrade?
The first thing to consider is why you’re looking for a new car. By having a clear idea of why you want to upgrade, you can narrow your search as it will help you compare your current model with what you’re looking for.
One of the reasons you might want to switch up your car is that you want to travel in a newer model. Maybe your current car is getting a bit old and you’ve spent a lot on repairs. Perhaps you’ve grown tired of not having some of the more high-tech specifications that are available on a newer design. After a few years driving the same motor, it can be easy to find faults and to want something fresh.
Another reason for changing things up could be simply to reward yourself. Did you get that promotion at work? Have you had reached a milestone that has allowed you to budget for an upgrade? It’s good to reward yourself when possible and if you are in the financial position to do so.
Finding the right price and payment plan for your next motor
If you’ve been driving the car that you paid outright for 10 years ago, you’ll find that in order to upgrade, you will unlikely be able to pay the total of a brand-new car using the money from the sale of your car second hand. This is due to the depreciation of vehicles over time and the large sum associated with purchasing a brand-new car.
People purchasing a brand-new car usually use a finance plan as the total cost can be on the higher end, this is a good method as long as you can comfortably meet the repayments. You might decide to take out a car loan to purchase the vehicle and pay it off in instalments. Make sure you weigh up your options when looking at how to finance your new car and take the time to account for payments.
What to look for
Now you know how you’ll finance your car and the budget you’re working with, it’s time to focus on what you’re looking for. Start with the key details like horsepower and engine size. If you’re after a car for the commute around the city, you’re not likely to need a highly powerful motor. However, if you’re in the country, you’ll probably need something robust.
Also, look out for features. A high-tech spec and lots of safety features can a be real draw – especially if you’ve been driving an older model for a while. Take the time to work out what details you want from your next car.
Fuel efficiency
This is a major consideration when buying a new car. You’re going to have this model for a few years at least, so it’s important you know how green it is. Look for models with a good rating and consider swapping out traditional petrol and diesel engines for hybrid or electric – these can be expensive at the start but can be cheaper to run as time goes on.
Images courtesy of unsplash.com
