When it comes to life’s big decisions, rarely do we act impulsively, so buying a vehicle should be no different. If you are in the market for a new car, truck or SUV, it is important that you explore all of your options and know exactly what it is you want; otherwise, you can easily get distracted with the many choices that are out there. To help you out with burdens that are sometimes associated with such a purchase, we have put together a list of questions you should ask before making the big decision.
1. Why do I need a vehicle? Some reasons may include:
- Too old
- Luxury, style and compatibility
- Costly repairs
2. What can I afford?
Sure, it would be nice to drive off the lot in the car of your dreams, but it is important that you are realistic about what you can afford. Not only do you need to look at the cost of the vehicle, but you should also research your insurance rates associated with the new vehicle, gas mileage, and warranty. All of these are considerations that should not be left out of the purchasing process.
3. Should I buy new or used?
There are pros and cons to both new and used vehicle purchases. When it comes to used cars, you are not as limited with your options as you used to be. If you are considering purchasing a used vehicle, it is important to take a look at certified pre-owned vehicles. To see more on certified used vehicles offered by Image Honda, click here. If you would like information on certified used vehicles offered by Queenston, click here.
When it comes to purchasing new vehicles, you have greater flexibility, especially when it comes to leasing. It is also important to note that your options for safety features will be greater on the new models.
4. What’s my credit like?
Unless you are paying cash up front for your new vehicle, you should know that your credit will be looked at. Depending on your credit rating, your options for financing may be restricted. It is important that you know what your options are before you go to make your purchase, for it could affect the amount you are loaned, as well as the interest rates you are given. That being said, if you have slow, bad, or no credit, have gone to collections or declared bankruptcy, there are options available and we can help. Apply online at www.getapprovedtoday.ca or contact us at 1-866-532-4218.
5. Should I have a down payment?
It is not necessary to have a down payment when purchasing a new vehicle. Nevertheless, if you can afford one, it will serve in your best interest by lowering your payments.
6. Can I get money towards a new purchase if I trade in my vehicle?
Absolutely! Come drop by our Image Honda or Queenston locations for an appraisal. Bring us your car, get a quote and receive an offer – it’s as simple as that. We are prepared to pay you top dollar for your trade.
By: Amy Cochren