Buying a new or pre-owned car is a big purchase with many financial considerations. There are many strategies available to get the best deal on a car, whether new or used. First, it is always a good idea to conduct some research on the different makes and models that are available. Next, decide which features are the most important, such as high gas mileage or room for a family of six. From there the selection can be narrowed down to the best fit for those particular needs. Researching the Kelly Blue Book value is an important step in the process which provides a baseline for the best price for a particular make of car as well as the model year. Buying a car when the new models for the year are released is the absolute best time to make the purchase as dealers are anxious to reduce their inventory once the new supply arrives.
It is always preferable to purchase a car through a dealer in order to maintain warranty rights and the like, however, this is not always possible. Additional research and title searches should be conducted if purchasing a car from an individual. It is also a good idea to confirm that the car is not stolen prior to purchase. Remember, if it seems too good to be true, it probably is.
New cars do depreciate as soon as they are driven off the lot but there are many circumstances where the purchase of a new car makes sense. If the car is going to be driven quite a lot and needs to be a dependable source of transportation, a new car can be the best option. Resale values will become a more important factor when purchasing a new car.
Toyota, Honda, and Subaru are three brands very well known for retaining their value. A high resale value becomes important when the car will be traded in or sold outright. These brands are also quite popular on the resale market.
The factory colors available do not come at a premium, however, there are various custom and trim packages that come with an additional cost. Matte paint jobs are increasing in popularity and are an example of a premium paint package.
Smart, Suzuki, and Fiat do not hold their value well. They are not known to last as long as many of their competitors, and their dependability decreases substantially in a quick period of time.
In addition to resale value and dependability, the cost of repair is also important. Many makes such as expensive imports like Mercedes-Benz and BMW will be expensive to repair and maintain. The reliability of the make will factor heavily into this calculation.
Manufacturer's warranties are always a good idea, especially for pre-owned cars. If someone is not handy or does not have an independent mechanic that they trust, an extended warranty can be a smart idea.