The average person will make a car purchase within seven days of their decision to buy. If you are thinking of buying a vehicle, it is best to review your options before making this important decision.  First, ask yourself if you need the vehicle and then decide what kind of vehicle best fits you need.
Review your chosen make and model with Consumer Reports to determine the repair experience, the safety record and the fuel efficiency. You can also look at comparable substitutes that may fit your needs as well. The quality and efficiency of the vehicle can pay great dividends toward lower ongoing costs.  Car and Driver magazine might also provide information about your vehicle of choice.
The next step is to review with your insurance agent the rating of and insurance cost of the vehicle. I know a man who purchased a Maserati sports car as his primary mode of transportation. After his purchase he found out that it could not be insured unless it was his second car. He was forced to buy a second car so he could have insurance on the first. He also found out after driving it a while that the car was very uncomfortable for long trips. This is why spending a little time initially to review your decisions will help minimize costly mistakes. Proverbs 19:2 says “It is not good to have zeal before knowledge.â€
Once you are ready to begin the search for the vehicle we encourage you to use our “car purchase questionnaire” found in our Saving Without Sacrifice In Action workbook. It lists all the features and options for a car. We would then encourage you to send it to twenty dealers to receive a bid from them. It also provides resources for average sales prices of vehicles (kbb.com and nada.com) along with a list of websites for car searches, car parts, and fuel cost efficiency information.
If paying cash is not an option, arrange financing before meeting with the auto dealer. A home equity loan allows for deductible interest and, if done properly, should be paid off quickly. Next, consider credit union financing before bank financing. Avoid financing with the dealer because many make most of their money from financing the vehicle as opposed to the actual car purchase. Do not lease the vehicle. Too many bad things can happen.Â
Buying used is always a better value than buying new. After identifying the car of your choice have a mechanic check it out and run any tests for potential problems. For those of you in Christ, pray about your decision.
