Deciding Factors in Purchasing a Car

Purchasing a car is something that nearly everyone has to go through at some point, and the decision can have a large effect in your life. Looking at the proper factors when making the decision can play a big role in whether you choose the right car for your situation.

Gas Mileage

One of the factors that you should consider when purchasing a car is the gas mileage. The fuel economy of the car can play a big role in how much it costs you to drive the car overall. While the initial purchase price is important, the ongoing costs are often just as important. High fuel costs over the life of the car can cancel out savings on the initial price.

Functionality

Another factor to consider is the functionality of the car. Looking at your individual situation can provide clues as to what type of car you need. For example, if you have a family of four, a small two-door sports car may not be the best buy. Consider the size of the car and whether it has four-wheel drive if you will be driving in conditions that would warrant it.

Financing

Financing of the car should also play a role in your decision. For example, you could choose between buying the car with a loan or leasing it. If you are buying the car, the interest rate should be considered. You may also get factory rebates or other incentives to buy. When leasing, you may not be required to make a down payment, but some people make one to reduce their monthly payments. If this is the case, determine if the amount of money that you have to put down is worth the savings on the monthly payment.

Warranty

When you buy a new car, look for a warranty, which will ensure that any problems with the car will be addressed at no expense to you. When you buy a used car, this may not be an option, depending on how old the car is. Each warranty will provide different benefits and last for a certain number of miles or years.

Reputation

The reputation of the company that is selling the car should also play a role in your decision. Research online with sources like JD Power, which rate cars on a number of factors. By reading these resources, you can see what other people think about a brand or model before buying one.