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4 minutes read. Published May 06, 2022
Written by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers in navigating the ins and outs of securely using loans to buy a car.
Editor: Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since late 2021. They are committed to helping readers gain the confidence to control their finances by providing clear, well-researched information that breaks down otherwise complex topics into manageable bites.
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At Bankrate we aim to help you make better financial decisions. While we are committed to strict journalistic integrity ,
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They ensure that what we write ensures that everything we publish is accurate, objective and trustworthy. Our loans reporters and editors focus on the areas that consumers are concerned about most — the different types of lending options as well as the best rates, the most reliable lenders, how to pay off debt and much more. So you’ll feel safe making your investment.
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Bankrate has a strict policy and rigorous policy, so you can rest assured that we put your interests first. Our award-winning editors, reporters and editors create honest and accurate content that will help you make the right financial decisions. Key Principles We respect your confidence. Our aim is to provide readers with truthful and impartial information. We have established editorial standards to ensure that this happens. Our editors and reporters thoroughly check the accuracy of editorial content to ensure that the information you’re reading is correct. We keep a barrier with our advertising partners and the editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence Bankrate’s team of editors writes for YOU – the reader. Our aim is to provide you the best advice to help you make intelligent financial decisions for your personal finances. We adhere to strict guidelines in order for ensuring that editorial content is not influenced by advertisers. Our editorial team is not paid any compensation directly from advertisers and our content is thoroughly fact-checked to ensure accuracy. Therefore, whether you’re reading an article or review, you’ll be able to trust that you’re receiving reliable and dependable information.
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With thousands of car options available, there’s no best car for everyone, but there is a best one to suit your needs. Base your choice on your requirements. Since there are many choices available, you should research your budget, your buying options, your energy efficiency preferences, and much more before you even step into a car dealership. How to find the best vehicle for you? Buying a car is a significant investment. In order to ensure that you are happy with the car you choose take a look at these questions first. 1. What’s your budget? Consider how much you’re willing spend- both every month and over the long run. Take into consideration the anticipated maintenance expenses including fuel costs, insurance and maintenance in addition to the monthly installment. A site like Edmunds will help you determine how much each item will cost over a five-year time. It’s also possible to find out how the different rates and repayment terms affect your monthly payment and the total amount of interest you’ll be paying. 2. Who’s driving? The main motorists of the car will decide which type of models you search for. If you’re a parent looking to purchase a car that a teenager is likely to use, the sports car or pickup truck probably isn’t the most appropriate option. If you’re a member of a large family or will be taking carpools to and from school or practices for soccer, then you’ll need cars with more seats and storage. 3. What’s the primary purpose? Comfort and gas mileage should be top priorities if your car will mainly be used to commute between work and home. Visit the dealer and drive around in the car prior to purchasing it. Make sure you alter the seat and climate control system to determine whether it’s the best for you. If you’re in a cold region, test-driving during a cold winter day can be a good opportunity to see how quickly windows get defrosted and how quickly the vehicle warms up. Take note of where you’ll be driving, the items you’ll be carrying with you , and how long your typical drive will be. If you are planning long road trips or trips that are expected to be on rough terrain, you should research models that can handle wear and tear. Likewise, a smaller vehicle might be better if most of your trips are on city streets that are narrow. 4. How much horsepower do need? For most motorists, a vehicle with four cylinders is both reliable and fuel efficient. Also, you will spend less on repairs and maintenance. However, if you enjoy speed or need to speed up on busy freeways and highways, a four-cylinder vehicle might be a disappointment. 5. Do you need to tow or haul often ? Are you looking for a vehicle that can handle towing a boat or RV? Smaller cars often don’t have enough horsepower, transmission and chassis to meet the demands. Even some smaller SUVs can’t handle the task, so check the towing capacity of your vehicle and the payload capacities. If you are planning to buy an additional vehicle to transport equipment, check if it’s able to fit into your garage. This is an important step that most drivers overlook, but some trucks, SUVs and vans are too wide or too tall for garages in many areas. Make sure to measure before buying. 6. Is fuel economy important to you? Prior to signing a contract for a new car, consider what you’re willing to pay at the gas pump. Cheaper cars and hatchbacks generally get the best mileage, especially if they are traditional as well as plug-in hybrids. A more luxury vehicle will require premium gasoline which will generally cost more than the regular or mid-range fuel. Make sure to check the prices before you leave. It might be worth it to invest a bit more upfront and avoid excess trips to the gas station. But you should ensure the cost is worth it. If you’ll be costing thousands in additional dollars for hybrids but do not expect to save that much fuel, it’s not worth the additional cost if you are only looking to save money as your primary objective. 7. How long do you plan to keep it running? Certain vehicles appreciate more rapidly than others. Look at car guides and check Kelley Blue Book or Edmunds to determine what is its value. This is especially important in the event that you’re going through your cars fast and you’ll get a better price when you trade in a car that isn’t losing much value in its initial five years. Some cars simply , too. Subarus, Toyotas, Fords and Hondas are all known for their long-lasting quality, so they’re good places to start if you’re hoping to keep your car for a period of 100,000 miles or more. 8. Are you looking to lease or buy? a car carry different financial burdens. Leasing is a good alternative if you’re looking for the latest model available, without paying as much each month, however, you can’t recoup the amount you spend by selling your car at the end of your lease. In addition, you’ll need to keep an eye on the cleanliness and condition of your vehicle. Additionally, you might have to deal with mileage caps. When you purchase a car, you are entirely in charge and you’ll not have to be concerned about mileage limitations. The downside is that you’ll generally need maintain the vehicle for longer than with a lease in order to make the investment worth it. It is likely that monthly payments will be more expensive, too. The main thing to driving out of the dealer satisfied with your new car is planning. Choose what’s important to your before you pick a car. It could be that style is more important than the size, fuel economy may be more important than seating. Each aspect has pros and cons, so do your research to find the car that will suit your needs for years to come. Find out more
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Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers in navigating the ways and pitfalls of borrowing money to purchase an automobile.
The edit was done by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers gain confidence to manage their finances through providing precise, well-studied information that breaks down complicated topics into manageable bites.
Auto loans editor
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