MORE than Finances

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Don’t Forget These Expenses When Buying a Car

Are you currently in the market to buy a new car? It can be really exciting to buy a car, especially if your old one is falling apart and started embarrassing you ten years ago. Whatever your reason is for parting with your old one, it’s now time to take a look at the market and see what’s out there that you can buy.

When you head to a car dealership, do you immediately fall in love with a car and feel like you have to have it? I hope you don’t – first of all, that’s how you overpay for a car, and secondly, that’s how you incur a handful of other expenses that you may not have previously thought about. “What kind of expenses?” you might be asking yourself. Let’s take a look at three big ones that you’ll want to consider when you buy your next car.

Gas Mileage

When you’re looking at vehicles, you might just assume that the smaller vehicles have better gas mileage than the larger ones. This is not always the case. I once had a friend that bought a Jeep Liberty and just assumed that it would get great gas mileage because it was much smaller than most SUVs. On a good day, he was lucky to average 16 miles per gallon. Another good example is a Saab. These cars are small, but they are more powerful than you think. It makes them fun to drive, but it also means that their gas mileage is awful. If you don’t pay attention to the MPG specs, you might be paying out more than you bargained for at the pump every week.

Dependability

Some people like to buy brand new cars because they assume they’ll be more dependable, while others like to sit back and wait for a few years to see which models really live up to the hype of dependability. I really like the latter approach, especially if the car is a brand new body style and engine than the previous years. Every new car just seems so great when you buy it, but it can turn on you quite quickly if it wasn’t engineered well. Do your homework and check the Edmonds and Consumer Reports.

Insurance

If you fall in love with a car and buy it without finding out the cost of the insurance, you could be in for a terrible surprise when you take that car home. I have looked at Porsches in the past, and the Boxters are becoming quite affordable, but the insurance is still outrageous! There are many factors that go into insurance costs, but mainly the more safe a vehicle is, the cheaper your car insurance will be. Trucks and Jeeps are cheap, and tiny powerful cars are typically pretty expensive. If you’re shopping around for insurance, check out Motor trade Insurance from Flint & Motor traders Insurance. Once you find the rate that’s best for you, you can confidently drive that car home without any big surprises!

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