Income shortfalls and budgetary woes affect most American households at some point. Both can make it necessary for parents to continue to drive an older vehicle in order to avoid having to make car payments during uncertain financial times. But once the family's income has stabilized and the household budget has regained its footing, the task of replacing that old, faithful vehicle with a new one is often moved to the top of the priority list.
If your family is in this situation now or soon will be, you may already be exploring some of the ads for new cars or driving by dealerships near you. Unfortunately, your initial forays into the new car market after being away for years may be leaving you feeling overwhelmed with the large selection and discouraged about whether you will be able to make the right choice.
Fortunately, new car shoppers can use this information to help them ensure that the car they ultimately select will offer their family the benefits and qualities that will lead to a satisfying experience.
Affordable ownership
Looking at hundreds of shiny new cars of every color and style is sure to be distracting, so it is important to remember that any new car you select should be both affordable to purchase and to own. This means that in addition to the overall cost of the vehicle and the amount of the monthly payment and interest, you will also want to consider the following as part of your total cost of ownership:
- auto insurance premiums
- taxes, permits, and licensing fees
- expected operating costs, including fuel, tires, and regular maintenance, based on your driving habits
Vehicles that are considered to be sporty or high-performance models, as well as those that are known to be popular targets for car thieves, can be much more expensive to insure. Additionally, a new car buyer who resides in a state where sales tax rates are considerable should also include those costs when figuring what each car will actually cost to own.
Drivers who have a long commute to work or who spend considerable time behind the wheel will also want to consider the expected cost they will incur for gas, tires, and normal maintenance for each model they are considering. Opting to purchase a vehicle that gets better gas mileage and offers more affordable maintenance costs can mean paying much less in each year of ownership.
Vehicle reliability
The reliability of the vehicle should also be a factor in determining which car to purchase. Searching for information online via sites that track product reliability can help vehicle buyers find valuable information on the models they are considering. In addition, buyers should pay attention to the terms of the manufacturer's warranty, including which repairs are included, how long the warranty is for, how the repairs will be handled, and any portion of the repair costs that the owner will be required to pay.
Overall safety
One of the most important factors is the overall safety of the vehicle. A good source for this information is the annual list published by the Insurance Institute for Highway Safety (IIHS). This list includes the models that have met rigorous testing and been deemed among the safest each year.
To get additional information and assistance with purchasing a new vehicle, vehicle shoppers should consider visiting a local dealership.
Taking this opportunity to discuss your buying situation, as well as viewing and test-driving some of their most popular models is a good way to narrow the selection process and ensure that the car you purchase is safe to drive and very affordable to purchase and own.
To learn more, contact a dealership such as a Hyundai dealer in your area.
