What Does My New Car Need To Do?
This may sound so obvious that it doesn’t even need asking, but there are many examples of people who have bought a new car without thinking through how it must fit in with their lifestyle, only realising their mistake once they have driven the car away.
One of the most obvious considerations will be the number of doors needed. People with young children for example will be best with a four door saloon or five door hatchback. Anyone who has tried to get a child seat through the gap of a three door car will understand the need for easy access.
The dimensions of the new car may also be important where access to a garage or fitting through driveway gates is important. A small reminder here is not to forget the door mirrors in any calculations – many new cars have automatically folding door mirrors now but they should always be considered when deciding whether a new car will physically fit.
Overall running costs of a new car should also be considered in relation to the sort of driving and mileage that will be covered. Lots of town driving may mean a large-engined new car is uneconomical and impractical, a new small car being the better option. Where higher mileages are recorded the use of a diesel engined new car may be a better option, the increased fuel economy over the petrol equivalent being more beneficial as annual mileages increase.
How Long Should My New Car Be Kept?
Although this can vary from person to person there is an optimum time to keep a new car for, based on depreciation, potential resale value and the best management of maintenance costs. It will come as no surprise to many that this optimum period is 3 years.
After 3 years the car is still new enough to command a good resale or part-exchange value, normally has an acceptable mileage and will usually have proved relatively maintenance free except for regular servicing. This is one of the reasons a lot of new car finance deals are offered over 3 years, something which is especially true of the car leasing type packages where the car is returned at the end of the term.
What New Car Finance Option Should I Choose?
Up until just a few years ago the main way to finance a new car, except for buying it outright with savings, was through a bank loan or dedicated new car hire purchase agreement. In recent years though the new car financing options have expanded so that it really is important to consider the different packages available in order to find the one most suitable.
One of the biggest changes in financing a new car has been the use of the PCP – Personal Contract Purchase or Personal Contract Plan. These use a balloon payment at the end of the term to reduce the regular monthly payments or the car can just be handed back, with nothing else to pay. This is known as Personal Contract Hire (PCH). Maintenance can also be included but the car cannot be modified and an estimated annual mileage is agreed which must be adhered to or additional costs can be incurred.
There is more information on new car finance options in the research section of the site and it is well worth taking a look to assess the different finance options available. It may be the case that a different choice of car finance package can mean a better car than expected can be within budget.
Is The Insurance On My New Car Affordable?
Often overlooked until the car has been bought, new car insurance is a major factor that should not be underestimated. The cost of car insurance is far from insignificant so having a good understanding of the expected cost is vital to buying the right new car.
All new cars on sale will sit within one of 20 groups, with group 1 being the lowest cost and group 20 the highest. It is sensible to get a good idea of the cost of insurance for a few groups so that, when it comes to choosing a new car to buy, the cost of insurance will not come as a shock and prove to be too expensive to manage.
Armed with answers to these questions you can now find the right new car for you using the new car price comparison service.