General Rules for Car Buying
The longer you keep the same car, the more money you’ll save in the long run- When it begins to cost more for repair than the value of the car, time to sell it!
Lease or Buy? Will your work help offset leasing costs? Do you drive many miles for work? If you do, leasing may make sense. Leasing is essentially renting your car; you do not own any part of the vehicle.
Don’t buy more car than you can afford- Luxury brands may have a good reliability record, but they will cost more to service and maintain.
Use the Consumer Reports website- It provides unbiased reviews on hundreds of items, including cars. Their reliability score is based on the latest auto subscriber surveys from thousands of actual ownership experiences.
Buy Tried and True- Wait until the manufacturer produces the same car as it reduces the number of problem areas.
Buy your car through the internet department instead of dealing with a salesperson- You’ll get a better deal. Costco also provides this service to its members
No Need to Purchase an Extra Warranty- Unless the model you’re buying is known to have major problem areas.
It’s generally better to use the money you would have spent on the warranty into a savings account for any problems that might arise
When test driving the car let the salesperson know the following- You’re not buying a car today but may in the future. You’re comparing several different models to the one you’re test driving and if the salesperson does a good job, you may use them in the future.
Keep it simple and come see us if you have any questions or would like to meet with a coach to come up with a personalized plan.
Written by Alex Shokrian, 8/25/2020