3 Ways to Avoid Hidden Costs When Buying a New Car
A new car is an exciting purchase, loaded with possibility and function, from the promise of a smooth ride to extensive road trips yet to be travelled. Before you can begin living your new automotive life however, you must first undertake a trial by fire, buying the car. Anybody can roll up to a car yard and signal their favourite, laying out a non-specified amount of money to the lucky dealership or private seller, but do you want to be one of those people who feel a little robbed at the end of the following week, as the mounted extras don’t really pay for themselves? Perhaps not. Take our cheat sheet with you and avoid the hidden costs of buying a new car; your wallet and sub conscious will thank you.
Buying a new car
Before signing the dotted line, flick the pen over and use it as a pointer, going through the drafted document. Keep an eye out for words like fees (seller fees, manufacturer fees, licencing fees) and premiums (insurance premiums, loan repayment premiums) and take note of what exactly the contract says. Run your concerns past the salesperson; they aren’t there just to ornament the other side of the desk and consider you with eyes full of dollar signs, they should make you aware of the fine print and any additional costs you may incur. A few charges, like transfer fees and stamp duty are quite unavoidable, but the rest is very much negotiable, so don’t sell yourself short by neglecting to consider the full weight of the purchase.
Factor in Fuel
The running costs of your old car (or maybe you caught public transport?) should be weighed up next to the fuel capacity of your ideal purchase, especially if there are significant differences in tank size, energy synthesis and how long a full guzzle lasts before finding the next bowser. The sales guy or girl won’t tell you the truth of this matter, they’ll just amp up the good stuff and hope you don’t notice they didn’t answer your question. Instead, hit the forums and check with owners who have already taken the leap, noting any issues or challenges to your pocket. Though many would have not predicted this shift ten years ago, fuel has become a converting factor when selling automobiles.
Do you like the idea of cruising around under a sun roof, the wind in your hair and the full surround sound system pumping out your favourite tunes? Warmed seats and cutting edge navigation, with an in-built computer and a DVD player in the backseat? Do you like the presence of leather trim on the seats and wrapped around the steering wheel? Most sellers and buyers are with you there. But what do these features cost, how does it influence your budget and be honest, will you actually have use for all of them on a regular basis? Probably not. Don’t be talked into what you don’t need or want. Have a limit and stand firm.
There are a few things that you can’t go past when buying a new car (for example, if you’re a Ford fan, consider Ford capped price servicing – the costs now may mitigate the fortune later); what are you essentials? Let us know in the comments below.