New cars are so fun and exciting, but when it comes down to decision time, the amount of things to consider can be pretty overwhelming. You need to sit down and have a think about what you want and need out of a car. So here are seven questions to ask yourself when it’s time for a new set of wheels.

1. How Are You Financing This One?

Cars are some of the most expensive things you can buy in your lifetime so you need to have a good idea about how you want to pay for one. Taking the time to save the full amount is usually the most cost effective way of doing things but not everyone has that luxury. If not you can borrow the money, car loans from Latitude Finance are one decent option.

1. New or Used?

The next thing you need to decide is if you are wanting to purchase a new or a used car. Used cars are by far the cheaper option but because you can never really know their history there is a degree of risk. New cars will always last longer and you will almost always have the luxury of a new car warranty, for added peace of mind. The best time of year to buy a new car is in January as many dealerships will have discounted rates on the previous year’s models.

1. What is Your Price Range?

Once you have decided if you are going to purchase a new or used vehicle you need to decide how much you are willing to spend. It’s best to decide this before you start looking so that you can narrow down your search and you’ll probably be firmer when it comes to haggling. You can find a car that runs for as little as $1000 so you can almost always find something in any price range.

1. What Do You Need it For?

Before you buy a car you should always take some time to think about how you will use it and what are the essential features you won’t go without. Consider things like:

• How often you drive?
• Will you need to drive around more than one other person?
• Do you need your car for your job?
• Will you need the car to have towing capabilities?

These factors will help narrow the field even more, making your choice a little easier.

1. How Efficient Do You Want it to Be?

The rule generally states that the larger a car is or the older a car is the less fuel efficient it will tend to be. So, you need to decide if a little extra cash now to buy a more fuel efficient car is worth the savings in the long run. Alternatively, you need to think about if getting a monster of a car is something you need, practical and/or worth the fact that it will be thirsty and cost more to run.

1. Should You Get an Independant Inspection?

If you are buying a second hand car, then the answer is unequivocally yes!

Paying an independent party to come and inspect a vehicle before you agree to buy can be a lifesaver. It is especially helpful if you don’t have any strong knowledge about cars and mechanics. An independent inspector will come, check out the vehicle for you and tell you if it is safe, roadworthy and if there are any problems that the current owner may have neglected to mention.

1. Are You a Confident Negotiator?

If haggling isn’t your cup of tea it might be a good idea to bring along someone you trust who is. A partner, parent or good friend who can negotiate effectively can save you a lot of money. No one should buy something as expensive as a car without first working out a fair price. The person selling the car won’t expect you to agree on the marked price so why should you?

Of course, this isn’t everything that you might need to ponder, but it should at least start you off in the right direction! Happy Hunting!