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Top Picks: Finding the Best Car for Your Needs

A good car should last you a long time. It should bring you many good years of driving. By engaging with dealers and having them compete for your business online, you stay in control and you get what you want.

Author: Tim Cartwright
Date: Mar 23, 2009 - 4:23:56 AM

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The price of cars has climbed over the past few years. It is all the more crucial for you to do your research when you are in the market for a new car.

How do you go about finding the right car? The first step to purchasing a new car is to undertake a detailed assessment of your needs. What are your transportation needs? Why do you need a car?

 

To figure out the car you need, you need to identify how you are going to use the car. Where are you going to use the car?

 

When your principle transportation needs are revolving around your kids or your work, you have a very specific set of criteria to work with. If you are worried about taking your children to soccer practice, you need a car that has plenty of seats in the back.

 

You need to figure out what class of vehicle is going to suit your lifestyle. You also need to think about who is going to be driving the car. If you’re going to be doing a lot of commuting, you have also got to consider things like the car’s gas mileage and how comfortable the car is going to be.

 

New cars have tons of features to offer as well. As you think about your needs, you have to identify what, if any, features are going to be useful for your car. You should make a list of the features you might need.

 

General features should be listed so that you can keep in mind what you are looking for. You’ve also got to consider the safety features your car is going to need. Think about whether you want anti-lock brakes systems, integrated seat belt systems, head injury protection or even child protection equipment. Again, the key to managing the long list of possible features is to be clear about what you’re actually going to need and use.

 

Once you have idea of the car itself, you need to figure out the price tag. How much can you afford to spend on your new car, realistically? It is crucial to be realistic, particularly in this economy.

 

You need to have answers to most of your financial questions before you start to shop around for your car. This means that you need to know what you can afford and how you can pay for it.

 

It is a pretty good rule of thumb that your loan or lease payments should not come to more than 20% of your monthly income. For obvious reasons, you’ve got to be able to pay your basic living expenses and not be worried about how you are going to afford your car payment.

 

Review your budget and take into consideration all the associated costs of having the car (fuel, license, registration, personal property taxes, and insurance). You may want to contact your insurance company before hand to determine the price for insurance coverage.

Before you go shopping for your car, you have to have your finances in order. When you know that you are going to require financing, you need to think about how much you are going to pay as a down payment. You should be paying at least 10 percent down if you choose a traditional loan. You may also want to consider a lease which typically requires no down payment.

 

If you have bad credit, you may be categorized in the "subprime" financing arena. If you have credit problems, you have to try to work with a consumer credit counselor or other advisor.

 

Although it is fairly standard to obtain loans commercially, you should check out alternative sources such as credit union organizations, and banks. Some dealers will also offer special financial packages for those with poor credit so if financing is an issue for you, you should mention it up front.

When you post what you want up front, you can eliminate the uncertainties of buying a new car.

A good car should last you a long time.   It should bring you many good years of driving. By engaging with dealers and having them compete for your business online, you stay in control and you get what you want.

View all articles by Tim Cartwright

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