Finance Globe

U.S. financial and economic topics from several finance writers.
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What’s Holding you Back from Buying a New Car?

What’s Holding you Back from Buying a New Car?

Are you contemplating the idea of buying a new car? There are many reasons for feeling this way:

•    Your current vehicle is no longer reliable.
•    Your current vehicle will cost too much to repair.
•    Your current vehicle no longer matches your needs.

Regardless of why you are considering a new car, you need to decide for or against this at some point. The longer you wait the more frustrated you will become.

Below are three details that could be holding you back:

•    Financial worries. Will your financial situation change if you purchase a new vehicle? If so, you need to be 100 percent comfortable with what you are getting into.

•    Lack of information regarding the automotive market. It is one thing to realize you need a new car. It is another thing entirely to find one that suits your every need. You may need to research multiple options before making a final purchase.
•    Concerns regarding the negotiation process. Let’s face it: nobody enjoys shopping for a car. This can be frustrating on many levels, including the fact that the dealership may not have your best interest in mind.

If one or more of these details is holding you back, it is time to search for the right answer. Pinpoint the problem and then do your best to find a solution. For example, if you are worried about the financial side of the purchase, review your budget to determine what you can afford. From there, it is easier to move onto the next step, which entails choosing a vehicle.

Once it becomes clear that you need a new car, it is time to put yourself on the right path. Don’t let anything stand in your way if you decide that this is a good decision. 

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Comments 2

Finance Globe on Thursday, 08 October 2015 11:18

Unless you have money to burn, a good meet in the middle solution is to find a car with a good driver history (Carfax vin check) that has under 20,000 miles on it. The initial depreciation is done for a while so you get more for your money for a car that still feels new. Might be a wonderful idea to stay away from used rental cars or young male owners!

Unless you have money to burn, a good meet in the middle solution is to find a car with a good driver history (Carfax vin check) that has under 20,000 miles on it. The initial depreciation is done for a while so you get more for your money for a car that still feels new. Might be a wonderful idea to stay away from used rental cars or young male owners!
Frank on Sunday, 11 October 2015 09:53

Some people are very into cars while others do not want to spend more money than needed. I would rather allocate my resources to other things. I recently bought a car, and I did a thorough research to make sure I could afford it, and I wanted to find the best deal.

Chris is correct in that you have to find the right answers and put in the work to determine if buying a car is the right choice for you.

Some people are very into cars while others do not want to spend more money than needed. I would rather allocate my resources to other things. I recently bought a car, and I did a thorough research to make sure I could afford it, and I wanted to find the best deal. Chris is correct in that you have to find the right answers and put in the work to determine if buying a car is the right choice for you.
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Thursday, 24 October 2019

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