Nine Must-Read Tips For First-Time Car Buyers
Never purchased a car before? Don’t worry, these nine tips from Ford and Ford Credit will help you narrow it down and avoid costly mistakes.
The most important thing to remember is to take the time to look at your options – go for test drives, and do your research on the car you want to buy as well as finance, insurance and details of the warranty plan. You’ll be driving this car for many years and you want to ensure you get the one that’s perfect for you.
1. Budget
The price tag on the car is only a part of the total cost of ownership. There are many additional costs that catch many first-time buyers off guard. Whilst doing your research and deciding which car you want to buy, keep the following in mind:
Insurance: How much will your car of choice cost to insure? Visit insurance websites and request quotes to get an idea of what you’ll be paying for vehicle insurance.
Maintenance / Warranty: Most first-time car buyers have a very tight budget, but it’s worth paying a little more for a decent maintenance / warranty plan. If you opt for a new Ford Figo, for example, you will get the comprehensive Ford Protect plan that includes:
- Four-year /120 000 km Comprehensive Warranty
- Two-year / 40 000 km Service Plan
- Five-year / unlimited mileage Corrosion Warranty
- Three-year / unlimited mileage Roadside Assistance
- And, before your warranty expires after four years, you can easily purchase a New Extended Warranty that will ensure.
Expected mileage and fuel consumption: Many first-time car buyers often don’t realise the impact fuel costs will have on their monthly expenses. If you tend to do a lot of driving, you’ll need to be very conscious of fuel consumption figures whilst shopping around.
2. Research
Research is probably the most important part of buying a new car. Once you’ve narrowed down the type (siz and use), start looking at your available options. Do thorough research (company websites, reviews, word-of-mouth) and narrow it down to a handful of options.
This is also a good time to research any deals a manufacturer may have. One example is Ford’s Graduate Purchase Programme that offers recent graduates 5% off the purchase price of a new Ford, as well as a preferential interest rate through Ford Credit. So keep an eye out for deals and speak to the dealers when you go for test drives.
3. The Test Drive
Once you have a shortlist, start booking those test drives. A test drive is the only way to get a solid impression of a car’s driving dynamics, features, and comfort levels, so take note of all the details with each test drive so you can do a proper comparison afterward.
Keep in mind that while it is great to have a good-looking car, you will be travelling inside the vehicle, so on the test drive make sure the seats are comfortable, the controls are easy to reach, all the instruments are clearly visible, and that it has all the features that you need. You have to live with it.
4. Choose your Dealer
Many people simply head for their nearest dealership (and there’s nothing wrong with that), but do some research on your local dealership first. Finding a good dealership is important because they are the people who will be looking after you and your car for many years to come. Most manufacturers have a Dealer Locator on their website and it’s a good idea to visit more than on near you in order to find the perfect fit.
5. Specification & Accessories
Some people find reading through specification and accessory lists a little tiresome and even daunting, but many manufacturers have brilliant brochures you can download. This gives you an overview of the most important features of the car and will also help you narrow down your questions for the dealer.
We know it’s tempting to only look at the fun stuff such as entertainment features and cool wheel options, but it’s best to start with safety and comfort features. If you choose a car that already has excellent standard safety features, you’ll have more room to play with accessories.
6. Paying for your new car
Majority of customers don’t have the cash available to purchase a car outright. This is where you should carefully consider how you wish to finance your vehicle.
When you take a loan to finance your vehicle, a finance company will calculate your monthly repayment based upon a number of factors, which include your ability to repay a loan, your credit worthiness, the amount you wish to borrow, and the period over which you wish to repay the loan. As you are borrowing money, you will be charged interest. It is therefore important to ensure you receive a competitive rate of interest, as interest rates will vary by lender.
Ford Options is a great way to finance a new Ford as it offers you choice, flexibility and security. For example, you can choose the period over which you wish to take the finance and may be able to take advantage of a promotional rate of interest, which Ford offers from time to time. Importantly, Ford guarantees the future value of the car, giving you security and peace of mind.
7. Understand the terms and conditions
It’s not pleasant, but make yourself a cup of coffee and read through the terms and conditions – you don’t want any surprises later on. And, because not everyone is a legal eagle, ask your dealer to run through the T&C’s with you. Don’t be afraid to ask questions and make sure you fully understand all the fine print before signing on the dotted line.
8. Insurance
Aside from shopping for the most cost effective insurance, it’s important to understand exactly what your insurance covers. Vehicle insurance is not a one-size-fits-all product and you need to make sure you get the right cover. Shop around and get to grips with the detail of different insurance policies. For example, if you regularly park your car on the street or outside office buildings, make sure you’re covered for all types of theft. Policies differ and some will cover smash-and-grab while others won’t. So decide what your risk areas are and shop for an insurance policy that best suits your needs.
9. Love your Car
Once you’ve bought your awesome new wheels, make sure you take care of it properly. Follow the maintenance guide and ensure your car is booked in for scheduled services.
Via: Ford Motor Company