Things to Consider When Buying a Car

Choosing the next car that you’ll get to call your own is always an exciting time, but it can also be quite a draining process. To make sure it’s a process that you’ll really get to enjoy, consider these things before you venture out to find the perfect car:

New vs. Used Buying a brand new car is very tempting especially in this day and age when cars are being made with fancier technology and nicer gadgets. When trying to decide between new and used remember just how much value a new car will lose as soon as you purchase it and take it home. The latest gadgets might not be worth the amount of money you’ll be expected to spend. At the same time you want to make sure the car you’re buying is reliable and safe. Consider buying a car that’s “nearly new” so that you won’t be expected to pay the high costs of a brand new car, but you’ll also know there hasn’t been much wear and tear on the vehicle.

Determine Your Budget Before even stepping into a car dealer make sure you’ve assessed your finances and know how much you can actually spend on a car. Don’t make the mistake of buying a car that you can’t comfortably afford as this will cause a serious strain on your finances. Plan how you’re going to pay for the car and how much of it will need to be financed. Saving a little longer for a bigger down payment in order to lower your monthly payments and allow you to pay less interest really helps lessen the burden of purchasing a car.

Make Sure to Test Drive at Least Once When looking for a new car always make sure you test drive it so you can be certain that you like the way it feels and drives. Make sure your test drive is thorough so you can see how the car drives on a variety of streets. Also try to take your family along on a test drive so you can see whether or not it’ll be comfortable and practical enough to suit your specific needs.

Do Some Research and Don’t Rush Yourself Buying a new car is a big commitment as it’s something you’ll probably be using most days for the next few years. Don’t just buy the first car you like the look of. Make sure you are really comfortable and happy with your choice, and that you’re getting the best deal that you can. Research what a fair price is for the vehicle and what drawbacks there might be to buying it. If it’s a used car ask for a vehicle history report so you can see if there have been any accidents that may have seriously damaged the car internally.

Founded in 1992, Jackson Wealth Management is an independent, fee-only investment advisor. Founder George P. Jackson has been the CEO/CIO of the firm since its inception with the goal of delivering value to his clients and his associates. 

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Advisory services offered through Jackson Wealth Management, LLC. 
Jackson Wealth Management, LLC is an affiliate of Jackson Retirement Planning, Inc.
Jackson Wealth Management, LLC is not affiliated with Triad Advisors, LLC.

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