Buying a new car is a big investment for most people, but it’s also something that depreciates in value very quickly. It’s often said that a new car loses $5000 in value as soon as it’s driven away from the car dealership. In this sense, buying a car is more often about convenience and utility rather than an investment opportunity. This also means that you need to choose the right car for you and your family.
Advice for Buying the Right Car
The good news is that there are plenty of new cars for sale in Canberra, but how should you make a decision? Here are some factors to think about when you’re looking for a car:
- Budget: Every family needs to have a family budget in place. When looking for a car, it’s no different than going out and buying food for your family. You should always have a budget in mind, and any car that is more expensive than your budget allows should be struck off the list. The last thing you want is to be saddled with a large debt because you had to have the most expensive vehicle available.
- Do your research: There are lots of vehicles around, but not all of them will be suitable for you and your family. The good news is that there are lots of online reviews and car magazines. You may also have friends or family members who know a bit about cars and can make some recommendations based on your needs. The very least you can do is go online and look for reviews of recommended car models. Many cars actually have well-known issues, and it’s worth weighing this information against your budget.
The Good News and Bad News about the Car Market
Due to free trade agreements in recent years, Australia now has access to many more makes and models of cars than ever before. This is great for the consumer because it means that we have lots of choice. We’re not simply restricted to limited makes and models and can find something to suit just about every family budget.
The bad news is that this also comes at a cost. Even if you decide on a car, how likely is it that you’ll get the customer support you need? How common are replacement parts when you’ll inevitably need them?
Some cheap vehicles from overseas don’t have a big name or history here, and this means that it might be difficult and expensive to find replacement parts for the vehicle. It also means that you’re less likely to be able to get the customer support you need. Cars without a long history here in Australia or cars that are less common on our roads might be cheap, but this must be weighed against the cost and availability of replacement parts and the quality of customer support.
Making the Right Choice
Buying a car is no small decision, so it’s a god idea to do your research and have a budget in mind before you pay the money.