Twelve Things to Look for When Buying a Car (Beyond Price)

Cars certainly aren’t cheap, with the average cost of a new one being just under $50,000 and used cars costing an average of almost $29,000. Buying a car may be necessary, but buying a new car is almost always a bad financial decision , even if you find ways to make the deal easier . In any case, when you’re buying a car, focusing only on price is a bad idea—price should be just one aspect of your decision-making process.

Next time you’re looking for a new or new-to-you car, be sure to consider the following factors, as well as price.

total cost

Instead of thinking solely about the net price of a car and assuming that if you can get it down a little during negotiations, you’ve done your due diligence, consider the total cost of owning the car. In addition to the interest you’ll pay on financing, you should also consider:

• Maintenance costs. Cars are a money sink because they are complex machines that you have to pay to repair and maintain. And not all cars are created equal when it comes to the cost of keeping them running . For example, a Tesla’s 10-year service and repair cost is $4,035, while a Land Rover can pay you a staggering $19,250 over a 10-year period. Add this number to the cost of the car and the interest on your financing to get a better idea of ​​how much you’re actually spending.

• Insurance costs. Not all cars cost the same , so it’s worth doing a little research to find out whether your car will cost you $1,600 or $2,000 a year in insurance premiums. While your own driving record and other factors affect the cost of insurance, the make, model and year of your car have a lot to do with it.

• Fuel efficiency. You can get a good deal on this car in terms of the original price, and you may even have excellent financing rates. But if the cost of filling up a car is equal to the GDP of a small country, it may still be a bad deal. A car that gets better miles per gallon (MPG) can result in savings of thousands of dollars at the pump.

Electric vehicles (EVs) also have an efficiency rating to consider, and you’ll pay for electricity to charge them. Every electric car has a rating that shows how many miles you can get from a charged battery. Choosing an efficient car today will offset the higher price and increase the lower price in the long run.

Reliability

Maintenance costs are one thing. Being able to rely on your car is critical. If you want your mornings to be less ruined by the sound of your starter grinding and grinding, make sure you buy one of the most reliable vehicles on the market . For example, if you buy a Pacifica Hybrid from Chrysler , you should make sure your bus pass is valid and ready to use.

Theft level

As the recent ” Kia Boys ” plague proved, your car won’t do you much good if you can’t leave it in the driveway. Even if the car you’re considering buying isn’t a low-security item or an internet meme, you should consider how often it is targeted by thieves . Most stolen car in the US in 2022? The Chevy Silverado, which has been tuned nearly 50,000 times this year alone. If you want one less headache with your car, buy one that thieves despise.

Resale value

If you buy a new car, chances are you won’t drive it forever—the average car ownership these days is just over twelve years . Thus, an important factor to consider when purchasing a new car is its resale value . All cars depreciate, but not all cars depreciate at the same rate or to the same degree. You might get a great deal on a car today, but when you try to sell it or trade it in a few years, you might be overwhelmed by the value—and the time to think about it is when you’re on the lot. deciding which car to buy.

Guarantee

Even new cars have problems, and a solid warranty can save you a lot of money and heartburn. You may be getting a good price for this car, but check the warranty to make sure you’re not being scammed. You’ll want to know what’s covered, how much repair costs you’ll have to pay, how long the car is under warranty, and whether certain aspects of the warranty expire at different times. You can always try to negotiate a better warranty if the standard offer isn’t very good, but at least know what you’re getting for the price.

Use case

One of the main aspects of buying a car is the use case – how you will use it. For example, if you need a car to transport three kids and their sports equipment across the state five days a week, buying a fun little two-seater will likely be a bad decision. Make a list of the ways you’ll use your car, from commuting to work to grocery shopping to transporting elderly relatives to and from family functions, and consider whether the vehicle you’re considering will meet those needs. Otherwise, even a big deal won’t be that profitable in the long run.

Safety

Even if you’ve got a good deal financially and are confident you’re buying an efficient and easy-to-maintain vehicle, you should also check the safety rating before pulling the trigger. The Insurance Institute for Highway Safety (IIHS) awards Top Safety Picks each year. It’s an easy way to determine that the car you’re buying is safe for you, your family, and other drivers and pedestrians.

Comfort and opportunity

If you’ve ever driven long distances, you know that even minor problems with the seat, climate control or legroom can become an unbearable pain. If you’re going to be spending a lot of time in the car—commuting, commuting, or shuttling the family around town—you want to know if the car will be comfortable. The key here is a test drive : you can’t take a car to Coachella to really see if it’s comfortable, but you can look for cars with lots of adjustable features (like the steering column and seat), and be sure to consider the impact of noise during driving time.

Features of a used car

While most of the above considerations apply equally to both used and new cars, there are some features to consider beyond the used car price:

• Mileage. Obviously, every mile a car travels causes wear and tear on it. Typical mileage is around 100,000 miles , depending on the age of the vehicle. The average driver puts about 13,476 miles on their car per year , so you can do a quick calculation to figure out whether the previous owner drove this car hard or not.

• Car history. You should never buy a used car without getting a vehicle history report to see if it has ever been in a major accident or flood. You also don’t have to pay a company like Carfax—you can check a car’s Vehicle Identification Number (VIN) for free.

• State. This may be obvious, but if you get a great price on a car that checks all the other boxes but looks terrible, think twice. Rust and scratches, damaged upholstery, a constant smell, or an orchestra of squeaks and groans when it goes over a pothole may indicate that it’s not the best buy, even if all the paperwork and calculations say so.

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