Student’s Guide To Buying A Car
Posted January 25th, 2010 and last modified June 21st, 2011
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When it comes to buying a car, there are a myriad of options to consider. Do you want the car to reflect the job you currently have? Are you looking for something flashy or do you simply need a reliable vehicle? Should you buy used or something new? These are some typical questions. However, when you are a student, the questions are somewhat different. Often, the criteria is cost and reliability as most students do not have a lot of cash on hand.
Why Buy New?
When buying a car, especially a new car, there are certain things that you will want to ponder. One of the major advantages of buying new is, well, that it’s new! You will not have to worry about unexpected repairs like you would if you were buying a used car. New cars also come with a warranty should the unexpected come to bear and you are in need of having repairs done on your new vehicle.
New cars also have the latest in technology, style and innovation. Manufacturers are falling all over themselves trying to outdo the competition with the sleekest new look or the latest gadget in order to snag your business. This is a major draw for many people whether they be students or regular folks.
Another reason that people like to buy new is because of the image. Buying a new car has a lot of status behind it. It can be seen as a reflection of people’s success and a indication that they have “made it”. For students, this is a major indicator that you are of comfortable means and can easily afford the things that you want. This is also a powerful message.
Safety is another important reason why people choose to buy new. Students or parents of students, if they are the ones purchasing the vehicle, may want to be certain that their child is riding in a car that has met the highest safety standards possible. This is really only possible when buying new because the car has no previous history. It is a fresh and clean slate. There are no worries of former accidents, repair history, etc.
A new car is also extremely reliable. Because of this fresh and clean slate you do not have to nervously drive off the dealer forecourt wondering if you will need to run the car to the mechanic the next day for repairs. A new car will certainly provide you with that peace of mind. Students who are pressed for time will find this a most appealing benefit. Reliability is paramount when you are a student and class attendance is mandatory and exams must be taken whether your car is running or not! Students will not have time to run their cars to the mechanic’s shop.
Why Buy Used?
Buying a car – a used car – has the most critical benefit of lower costs. Many students find this option particularly appealing because many students have to keep a tight hold on their purse strings. Since many students do not work, making the most of your money is of the utmost importance. Buying a car is a major investment so it is important that the student make certain that all the characteristics and criteria are met before jumping in.
Buying a used car doesn’t have the stigma it did in the past. Many people like the newest, shiniest and brightest model that comes out every year. This leaves a lot of perfectly functioning and highly affordable vehicles on the market for purchase. Buying a car – a “newer” car – is often seen nowadays as the responsible and less extravagant way to get around.
Used cars also do not depreciate in value nearly the rate that new cars do. It is widely known that the minute you drive out of the dealership’s forecourt, you have already lost 20% of the value of your car. This does not sit well with many folks and is another reason to buy used.
It is necessary, however, to do your due diligence. Buying used has many advantages but you must do your homework. A used car may look like it is in pristine condition, but it is nearly impossible to tell, outwardly at least, what has happened to a car. Much depends on how the car was driven, whether it was taken in for service regularly and its history. If buying from a private owner, ask pertinent questions.
- What is the reason for selling?
- Do you have service records on hand to peruse?
- Were there previous owners?
- How many kilometres has it?
- Have there been any accidents involving the car?
- May I have the car inspected?
You will also want to do your homework as to the make and model. Manufacturer’s websites will give a lot of information but also look through auto guide sites that give reviews on different cars. This will help you decide which is the best type of vehicle that will hold its value.
The Final Decision
Buying a car is a big decision and students have to make sure they are weighing all of their options before moving forward. Regardless of where you lie on the financial spectrum, be sure it is the right fit for you and your needs. In addition, you may want to ask yourself the following questions:
- Do you plan the use the car alone mostly or will you have additional passengers regularly?
- Is it practical for where you live currently? i.e. 4-wheel drive may not be necessary in a city that never sees inclement weather.
- Do you want or need to drive an automatic or a stick shift?
- How many kilometres do you plan to use the car per year?
These kinds of questions will help to determine the type of car that will best suit your requirements. Students have a lot of pressure to handle and responsibilities to juggle so the better the car, the less you will have to worry about in the long run. Making the most of the information you have at your disposal will make the process that much easier.
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