When in the market for a new car, there are so many factors to consider before arriving at your final decision. From what price range fits your need and budget, or whether you need an SUV or a family car to which options and add-ons you genuinely need. Although many buyers make emotional decisions, how they feel about the particular car, this can be an expensive mistake.
Below are the most critical factors you need to keep in mind to compare cars.
Cost of depreciation
This is the most significant expense when it comes to buying a new car and one you should pay close attention to. Averagely foreign cars seem to depreciate less than domestic cars. However, the difference in cost can be staggering in some cases. For instance, A Subaru will retain about 55% of its value after three years. A similarly priced Chevrolet will retain only about 40% of its value after the same period. This clearly shows that over three years, you will pay over $50 per month more in depreciation cost with the Chevrolet. When you look at this angle, you will notice the significant differences.
Terms and duration of the warranty
Most car vendors off at least three-year warranty per 36,000-mile coverage. These warranties cover anything that gets broken down in the car during this period. Note that this doesn’t include normal wear and tear items such as the batter, shuttered glass, and tires. Some manufactures offer powertrain warranties such as Hyundai’s ten years/ 1000mile coverage. When comparing two cars, it is advisable to check what kind of coverage they come with. You can make your car comparison by WhichCar for more details.
This is an important area to consider. Some cars require regular and expensive maintenance costs. To compare these costs, ask the local dealers to put you through to speak to someone in the service department. Ask how much it will cost to maintain your preferred car and model according to the manufacturer’s recommended maintenance schedule. Having the 3year warranty period in mind, find out the mileage intervals recommended for regular service. Note, some manufactures off free servicing during the first three or two years of ownership.
When looking to buy a new car, you probably plan on having a car that’ll last you for years and years. For this to happen, check on the reliability ratings. Most cars are made to last long. However, some are not made equal as far as long-term maintenance goes. Buying a car with a poor reliability rating could call for high maintenance costs to keep it functional. It pays to look at the total cost of ownership and not just the buying price.
If you are thinking of buying a car, it’s in your best interest to learn and compare the cars. Before you start car comparison, do research. You can use sites such as car comparison by WhichCar to compare car essentials accurately. You have to understand more about the specifics of the car to make the right choice.