15 Point Checklist for Buying a New Car - My Credit Union

15 Point Checklist for Buying a New Car

Check out this checklist when considering a new car. Its not everyday when your in the market to purchase a car every day, so the things to consider today may be different tomorrow.

You have to shell out your hard-earned money to buy the car of your choice.

It’s imperative that you have the checklist in your hand while deciding to purchase a new car. We shall enumerate some good tips for you to remember while going in for purchase of a new car.

Know your Budget

If you have enough money with you to buy the car and maintain it, there is no issue at all. In case you wish to go for financial assistance, you must weigh your income and expenditure correctly before going in for the purchase. Since you have decided to purchase a new car, we shall assume that you must have done this exercise. We shall now move on to the next step.

The Fifteen Point Checklist

You should keep in mind the following fifteen points at the time of purchasing your new car.

  • Make an informed choice. You should know which car make you wish to purchase. In case you are going to use it for city driving, a small car might suffice. In case you wish to go for long drives on mountain ranges and beaches, etc, you should go for a SUV.
  • Know the correct price of the car: The best place to search for the price is the internet. You can also contact different dealers and collect the requisite information.
  • Have a clear idea about your budget: Make a list of income and expenses and arrive at a clear budget. You have to factor the expenses for servicing loan installments as well fuel and maintenance charges.
  • Get an estimate for your used car, if any: In case you wish to trade in your used car, you should have a clear estimate for your old vehicle.
  • Check online for insurance costs.
  • You should ask for a check drive. As far as possible ask for a check drive on a similar vehicle to the one you would choose to buy.
  • You should have a clear idea about the car’s features. You should not hesitate to ask any question.
  • Check the headroom, legroom and do not forget the cargo space.
  • Check the navigation capacity of your car. Drive the car on the busy streets, freeways, as well as in narrow alleys. You should drive the car for a minimum of thirty minutes at least to judge the quality.
  • Check the steering wheel and judge its responsiveness. Try driving with your hands off the steering wheel. The car should be steady.
  • Turn on the car stereos to check the sound. Listen at full volume. Give attention to the noise while shifting gears.
  • Test the brakes firmly. It should stop at once from 40 to 0.
  • Check the air conditioner and judge the power consumption.
  • Pay attention to the car rather than listening to the chatter of the salesperson. Do not allow the sales person to make you rush your decision.
  • If you like the vehicle, go ahead and buy it. If not, be polite and leave with your old car. There is always another car model, another showroom, and another sales person.

Follow these simple steps to take before purchasing your new car!