Beginners Guide to Buying a New Car in Flamborough

Beginners Guide to Buying a New Car in Flamborough

Posted on April 6, 2021

For the purposes of this blog post, we mean buying a brand new, straight off the production line new car and not a car that would be new to you. If you haven’t bought a new car before, what are some of the key dos and don’ts?

Our Flamborough auto loan team tells us what they think. The team put their heads together to come up with five dos and don’ts of buying a brand new car.

1.   Do decide if you want to buy new

There are pros and cons of buying a brand new car and you should definitely consider carefully which is the right decision. New cars have the latest features and safety technology but they come at a premium.

Used cars don’t have the latest technology but are cheaper. You are also not the first owner.

2.   Do set a budget

If you have bought cars before, you know how easy it is to overspend and blow the budget. Dealerships are full of deals, shiny cars, potential upgrades, amazing features and lots of enticement to overspend.

Setting a budget before you begin looking at cars can insulate you from a lot of that. You will sill need willpower to stay the course but if you have a budget in mind, you can stick to it.

3.   Do factor in depreciation

If you’re using a Flamborough auto loan to help pay for the car, make sure you’re comfortable with being upside down for a little while. New car depreciation is steepest in the first year where you could lose up to 35% of the sticker price.

There is nothing wrong with being upside down but not everyone is comfortable with it.

4.   Don’t get seduced by the range

This works in tandem with setting a budget. Having a figure in mind means you should stand a better chance of falling for a premium model you cannot afford. Car manufacturers love to sell a lifestyle and are very good at marketing their vehicles.

Knowing what you’re looking for at the outset should prevent most of the marketing material working its magic on you.

5.   Don’t just stick to domestic brands

We of course want to support local manufacturers but many non-native auto brands are also manufactured in Canada or North America. Consider all your options from all the manufacturers and try not to get caught up in brand loyalty or worse, brand snobbery.

Buy the right car for your needs and your budget. Don’t worry about the badge on the front. Read reviews, check car websites and take a test drive to get a real taste of driving the car.

There is a lot to buying a new car, especially a brand new car. Hopefully with some of these dos and don’ts, you’ll stand a higher chance of driving away with the perfect car for your needs.

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

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