Buying a New Car in Hamilton - Do's and Don'ts

Buying a New Car in Hamilton - Do's and Don'ts

Posted on September 20, 2021

Buying a new car in Hamilton is an exciting time but it’s also a time when you can forget the fundamentals and get carried away with shiny bodywork, new technology, horsepower and that new car smell.

With that in mind, we asked our Hamilton auto loans team for some simple dos and don’ts for when you’re buying a new car. We hope they help keep your mind focused.

Do decide if new is right for you

Do you buy brand new or nearly new? There isn’t much to choose between them but they do have distinct differences.

New cars have never been driven by anyone else and have that new car smell. It doesn’t last long but it’s an amazing smell you can only get one way.

Nearly new cars are much cheaper but will have been driven or owned by someone else. They won’t always have the latest technology but they shouldn’t be too far behind.

Do set a strict budget

Budgeting is essential for any new car purchase. We all have a finite amount of money available to us, whether that’s via a Hamilton auto loan or cash in the bank.

We want to spend that money as wisely as possible and preferably not get ourselves into more debt.

Set a budget before going car shopping and you should avoid the worst temptations to spend more on a higher spec model.

Don’t forget to factor in running costs

We often see clients going to great lengths to work out how much they can afford, assess how an interest rate rise would impact their finances and go into great depth on household spending, only to forget the car’s running costs.

It’s easy to get tied up with the cost price and auto loan amount but all cars come with running costs. You need to factor those into your monthly budget for the car to be genuinely affordable.

Don’t ignore the test drive

With buying online and click and collect, it’s easy to treat a car purchase like any other purchase, but it’s not. There is an emotional element you don’t get with a TV or a new stove.

Only a test drive will tell you whether a car is truly right for you or not. We test new beds and mattresses, we try on clothes and shoes before we buy.

Why wouldn’t we test drive a car too? It’s actually quite an enjoyable experience!

Don’t go car shopping alone

We also recommend not going car shopping on your own. It’s easy to be seduced by expensive cars, top trims and extra features so it’s useful to have a voice of reason to bring you back to earth.

If you know you have a tendency to become caught up in the moment and make impulse purchases, take someone you trust along with you. They could save you a lot of money!

Contact Unique Chrysler for help, advice and competitive Hamilton car finance and leasing.

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