Simplify your vehicle search with these useful buying tips
(NC) When you’re in the market for a new car, the search can be overwhelming and the options endless. So, where do you start?
If you’re comparing new and lightly used vehicles, pricing tools like those available on Autotrader.ca can help narrow down the search by scanning hundreds of thousands of listings in real time to let you know if a vehicle’s price is great, good or fair.
“The price of a vehicle is usually the first thing people look at when looking to buy,” says Michael Bettencourt, managing editor of Autotrader.ca. “But the price tag doesn’t tell you the whole story. Buyers need to take into account the total cost of ownership.”
New and used cars offer different price breaks. With new vehicles, you’ll have the added security of predictable monthly payments with traditionally lower interest rates. Repairs will also be covered under warranty, saving you additional dollars down the road. On the other hand, buying used gives you access to savings up front, since depreciation has already been covered by a previous owner. You also won’t have to worry about new-car fees. Ultimately, consumers should look at their budget and lifestyle to decide whether a new or used vehicle is right for them.
You’ll also need to determine if financing or leasing is your best option. Financing spreads the cost of a vehicle over a period of time until the vehicle is owned outright, but usually these payments are higher than typical leasing payments. On the flip side, leasing is a great option for those who want the flexibility to trade in every few years and want to enjoy the latest vehicle designs and technology. But be aware, you’ll also be responsible for excessive mileage and any damage that may occur.
To ensure you make the best decision for your driving needs and get a great deal on your new ride, make sure to do your research and explore a variety of vehicles and pricing options.