New Car In Milton - Buyer's Guide

New Car In Milton - Buyer's Guide

Posted on June 1, 2021

Buying a new car in Milton is a significant purchase and something we want you to be completely sure about. As part of that process, knowing you’re making the right choices can help reassure you enough to take the leap.

That’s what today’s blog post is about. Our Milton car loan team explains some key dos and don’ts of buying a brand new car.

Do decide if brand new is right for you

Buying a brand new car straight off the production line is a popular way to drive a car but it’s not the only way. Buying a certified used car is also an option worth investigating.

New cars offer the latest designs, newest technology, new safety features and the cachet of driving the latest model. However, you do pay for that privilege.

Used cars will be older and not always the latest design. They can come with lots of new technology and features but not always the very latest. They are much cheaper than buying new though.

Do your research

Knowing your spending your money wisely is key to a happy purchase. Part of that will come down to research. Spend as much time as you can checking out the various makes and models of car.

Use the internet, read reviews, watch YouTube videos, talk to friends and colleagues and gather as much information as you can about the car you want to buy.

Also research trim levels and their features, values across the market and how fast they depreciate.

Do take a test drive

In the age of online car sales and delivery, it’s tempting to forgo the test drive for convenience. We wouldn’t recommend doing that.

A car that looks good on paper may not feel right or behave as you expect on the road. It doesn’t matter what reviews or reviewers say, we are all different and have different tastes.

The test drive is an essential component of buying a new car and not something we would recommend doing without.

Don’t ignore depreciation

If you’re using a Milton car loan to pay for your new car, don’t forget to factor in depreciation. Cars will depreciate anywhere between 15-40% in their first year, which could leave you upside down in your car loan.

Being upside down, in negative equity, is no bad thing and normal for new car purchases but not everyone is comfortable with that.

Depreciation will also impact resale or trade in value. When it comes time to trade in your new car, being able to get more for it means a better car or a smaller car loan next time.

Don’t forget running costs

The sticker price is only part of the car ownership equation. The other is running costs. Insurance, gas, servicing, parts, repairs, tires and so on.

Most new cars will come with a couple of years of free servicing but you’ll still need to insure it, fill the tank, replace tires and pay for any fixes not included in the warranty.

We usually recommend making sure you have plenty of wiggle room when calculating your car loan to make sure you can afford running costs.

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

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