When you’re buying a car, there’s a lot to consider. That’s why I put together this list of 7 things you should keep in mind when thinking about this big of a purchase. While this post is sponsored, all opinions are my own.
So you want to buy a car? Great! You have so many options when it comes to make, model, size, color, automatic or stick, and power windows and locks. The choices are truly endless. But, regardless of what kind of car you want, there are 7 important thing you should consider before you buy.
7 Things to Consider When Buying a Car
1. Fuel efficiency
One of the first, and perhaps most important things to consider is the car’s fuel efficiency. This is one of the mistakes I made when I bought my current vehicle. Had I thought about the ramifications of low mileage to the gallon, I probably would have reconsidered my purchase. Do you want a hybrid or one that runs solely on gas alone? Do you want a car, a van or an SUV? SUVs and vans generally have lower MPG than cars.
2. Insurance costs
Insurance is a big one, and most don’t consider insurance ahead of time when buying a car. Did you know that you can get general estimates for vehicles with most car insurance companies? You don’t even have to purchase the vehicle before you get this quote. Keep in mind that a car with a bigger engine will usually cost more to insure. Things such as turbo models and other sports extras will also run you more in insurance fees. And, your car color can cost you more! A red one for example will be a higher cost to insure than a white car, because red ones are more likely to be stolen. (Cue the “more you know” jingle!)
3. Average costs for maintenance and repair
This was another thing I wish I had thought of ahead of time to research. Maintenance and repairs on my vehicle is far too costly. We still don’t have an air conditioner or working heater because after the fourth of time of paying out the ASH to replace it, we gave up on this absurd fee. You should check the conditions of the vehicle AND the reviews of common maintenance issues with the make and model too!
Another thing to look into is the fees you might experience for things like oil changes and air filter replacements. Some vehicles require more expensive oil and tires than others.
4. Research the value of all of your purchase options, get lots of info, and make the most informed decision possible.
No question is stupid. Okay, well, for the most part no question is stupid when you’re debating about a purchase this big. You need to know all the details about the vehicles you are considering so you don’t end up with a lemon. Things like – whether a vehicle has been in an accident, ever had flood damage (hello Florida hurricanes!), and whether it has been reported stolen. Yep, these are things you need to be schooled on before pulling the purchase trigger! Come up with a list of several cars you are considering, and then shorten their list by thinning the herd via your research.
5. Be clear on what you actually want
Yes, you may have to compromise if you want a 2018 BMW but only have a budget for a 2014 Honda Civic. However, you shouldn’t compromise too much. Know what you want, and then look for what you want.
6. Don’t rush the process.
My husband and I tend to adhere to the philosophy of never buying anything when we need it. When we need it, we rush it and then inevitably regret our decision. Again, I confess this is what happened with my current vehicle. Our last vehicle was totalled unexpectedly and I panic purchased instead of slowing down and being smart. Sigh…I’m being smarter with THIS purchase!
7. Consider your current budget, and how you will finance the vehicle (if at all)
How much can you spend on this vehicle? Will you need a car loan, and if so – how much can you put towards a down payment and/or monthly payments? You must be realistic about this. Do you even qualify for a loan? Will your interest rates be good/bad/unspeakable? Thinking about the financial aspect prior to the purchase will certainly save you a lot of heartache later on.
Enter the Blinker App.
Blinker is the first-ever mobile app that puts you back in control of buying, selling and financing cars yourself – and it can all be done with your smartphone. Using their patented image-recognition technology, they make everything from selling a car with a lien to getting a loan to refinancing as easy as snapping a photo.
Since launching in Texas last year, they’ve saved buyers and sellers an average of $3,000 per transaction, serviced millions of dollars in auto loans, and they even won a 2017 SXSW Interactive Innovation Award.
Their app is currently available in Colorado, Texas and Florida. And, for a limited time, when you download Blinker (for free), enter code FAMOUS and you’ll get $200 when you buy, sell or refinance a car through the app. In full disclosure, I’ll get some cash, too when you use code FAMOUS.
Click HERE to learn more about Blinker.