Time for a new car?

Things to consider when making your big purchase

For many of us, a vehicle is the biggest purchase we make in life, aside from a home. So it’s a big decision — and you’ll have lots of things to consider. Here are a few ways to go about finding the right vehicle for you:

Needs vs. Wants

Make an outline of your non-negotiables. These may include things like how many people you can seat, how much cargo space you need, and safety features like 4-wheel-drive or Bluetooth connections.

Note also, the things that would be “great to have.” These are non-necessities that would make a vehicle more appealing to you — like certain types of interior storage compartments, the exterior color you’d like to have, an enhanced audio system, sunroof, and more.

These things, combined with your budget, may help you narrow down the brand of vehicle that’s right for you.

Online Comparison Shopping

Look around online at vehicles being sold both by current owners, and by dealerships. Consider whether you’d like to do a private sale (which may get you a better price), or buy from a dealer (who is more likely to make necessary repairs, and provide a warranty). Note that if you have a very specific type of car in mind, some dealers will actually find what you want and get one in for you to test drive, with no commitment to purchase.

New vs. Used

Do you want a brand-new vehicle with all the bells and whistles? Or would you rather spend less on a pre-owned vehicle? Do some research regarding depreciation, as well as possible repairs or maintenance you may need to make on a pre-owned vehicle.

Know the Blue Book Values

Make a list of the vehicles you’ve found that you’re interested in — and look up their Kelley Blue Book values before you see them. Knowing what the vehicles are worth can help you negotiate the price if you need to.

Finding the Right Financing Option
You can choose to finance your vehicle through a dealer, or you can talk to Horizon Bank about loan options that may be right for you.

Just remember to negotiate the total cost of your vehicle — not just your payment. This will ensure that you don’t pay too much for the car you choose.