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Purchasing a new vehicle is one of the biggest financial decisions most people will face. Although the opportunity to buy a new car may be very exciting, there are a lot of factors to consider before making your final decision. It isn’t unusual for people to get so caught up in the excitement of car buying that they end up making decisions that they later regret. Before you purchase your next vehicle, sit down and ask yourself these five questions to help to make the process a little smoother.
1. Should I buy new or used?
This is an essential question to ask yourself before you begin your vehicle research. There are benefits to both new and used cars, but you have to decide what is best for your budget and lifestyle. If you are looking for a car with fewer miles and the latest technology features, you may want to purchase a new car. If you’re on a strict budget, or you’re only looking to drive short distances, a used car may be the best fit for your lifestyle.
2. What is my budget?
Regardless of if you plan to purchase a new or used vehicle, you will need to set a budget. Nothing is more disappointing than falling in love with a car and realizing that it’s not within your budget. When calculating your budget, be sure to take gas, insurance, and registration into consideration. If you have your heart set on a particular vehicle but the newest model is out of your price range, try looking for an older, used version. You may be able to find a used, low mileage version of the car that you will love!
3. Does this vehicle fit my lifestyle?
How you are going to use your vehicle is very important when trying to decide what type of vehicle you are going to purchase. If you’re planning to drive your vehicle in off-road rural areas, you may want to consider one of our Toyota Tundra or Tacoma trucks. If you have a long daily commute, you may want a comfortable and smooth sedan, like our Camry models. Don’t forget to consider your future plans! If you plan to expand your family in the next few years, space, comfort and safety will be some of your biggest concerns.
4. Should I finance or lease?
Do you plan to keep this vehicle for a look period of time? Or do you like switching things up every few years? If the later sounds like you, you may want to take a look into the benefits of leasing. With leasing, you won’t own your vehicle, but you may benefit with lower monthly payments, always being covered by warranty, and getting to test out the latest models every couple of years. If you want to customize your car, or plan on taking a lot of high mileage trips, you may want to stick to financing.
5. What is the warranty coverage?
To help save you money on future service and repairs, it’s important to research the warranty that comes with the car you have in mind. With the ToyotaCare no cost maintenance plan, your normal factory scheduled maintenance will be covered for 2 years or 25,000 miles – whichever comes first. ToyotaCare also features 24 hour roadside assistance for 2 years. With the benefits of a good warranty, you’ll save plenty of money in the long run.