In Memory of Our Beloved Grandson Kole Clifford Hancock March 18, 2001- August 21, 2020


TOP 5 QUESTIONS TO ASK YOURSELF BEFORE BUYING A CAR IN 2020

by - Posted 2 years ago



So you're in the market for a vehicle. Buying a car new or used can be pretty expensive. According to Kelly Blue Book the average price for a new car in 2020 is $37,876. On the other hand the average buy price for a used vehicle typically runs at about $19,657. That's over $15,000 in price difference. Before making any big decisions, you should take some time to ask yourself these 5 questions:

SHOULD I BUY A NEW OR USED CAR?

This is probably the most important question. Take some time to reflect. Is a new car in my budget? What am I using this vehicle for? Is the new car shine and smell worth the extra $15,000? According to the world renowned financial advisor Dave Ramsey "you can find like-new used cars that are just as safe and dependable as a new car and at a much cheaper price." For some people it might make more sense to buy a new car for the fact that it will have little to no miles. Or maybe you just want brand new car bragging rights. But if you're in the market for reliability, save yourself a couple thousand dollars and get a used car.


AM I EDUCATED ON THE VEHICLE I WANT?

Often times when people are buying a car they tend to focus on looks. While the car might meet your expectations for looks, what about the other components of the car? What about the car history and reliability? We live in a day where any question we have is at the touch of our fingertips, take a moment to do some research on the vehicle you're interested in. Look up customer reviews and how long they owned the car. If you're anything like me and don't want to waste time scrolling through paragraphs and paragraphs of information, go to YouTube! YouTube has become the #1 website for video customer reviews. Not only can you get the information you need, but a lot of content creators will videotape the ride along so you can get an idea of how the car drives.


IS NOW THE BEST TIME FOR ME TO BUY A CAR?

Ask yourself this: Can I afford another expense right now? Do I have a stable source of income? Do I want, or need a car?

Although you might have the money for a car, it may not be the smartest financial decision for you right now. If you can't answer any of the questions above with full confidence and clarity, you may need more time to think things over. Make sure that a down payment and monthly payments can fit into your current budget. If you're not sure that you can afford a car now, wait a couple months and save some money.

Unfortunately there are times where you cannot wait to buy a car. Maybe your car got totaled, or wont turn on at all. In that case the only thing you can do is try to find a car that's able to meet your needs for transportation and hopefully is within your budget...or put your legs to good use and run as fast as you can.


WHAT DO I LIKE AND DISLIKE ABOUT MY CAR?

This was the easiest question for me to answer. My first car was a 1994 Geo Prizm, no power windows or locks. Which meant I had to manually lock every door before I got out, and rolling down my window was a hassle. The only upside to that was I got a great arm workout. So when the day came for me to get a new car, power window and locks were a must. Simple things like that will make your car buying experience a lot easier.


HOW MANY PEOPLE WILL BE IN MY CAR?

The average car can have a lifespan up to 11 years. What does your life look like in 11 years? Do you plan on having a family or carpooling with friends? Making sure you have the right size vehicle is really important. If I knew that I was gonna be moving between states I definitely would not have purchased my little white sedan.


BONUS TIPS

While buying a car can be really stressful, planning everything out ahead of time can make the process easier and more exciting. Plan how much your going to spend. Map out what area you want to shop in. Read reviews from customers that have been to those car dealerships. Just because you're making a big decision doesn't mean it can't be fun. Ask yourself these five questions and you'll be on your way to finding the right car for you.