Things to Consider Before Buying a New Car
Buying a new car is an exciting experience, but rather than diving in head first, there are number of things that you might want to think about to make sure you choose the right one for you.
Work Out Your Budget
The first thing to do before you start browsing for a new car is to work out how much you can afford. If you are planning on paying the cost upfront, this should be simple enough, but if, like most car buyers nowadays, you want to secure a car finance agreement, you will need to figure out a monthly budget. The best way to do this is to go through your bank statements, take an average of your outgoings and subtract this from your monthly income.
Identify What Vehicle Type Is Best Suited to Your Needs
To further refine your options, it is a good idea to ask yourself what you will be using your car for and what type of vehicle would be suitable for that purpose, whether it be a compact, a convertible, a saloon or an SUV.
If you have just passed your test and are looking for the perfect used car, you are likely to want something small and easy to drive, like a MINI Cooper Hatch. If you know that you’ll be spending a lot of time on the motorway, your priority may be comfort, or performance to make long drives a little more fun. The BMW 5 Series is perfect for this.
Research Resale Value
When you buy a new car, selling it is probably the last thing on your mind, but it is worth giving resale value a bit of thought. If you choose a slightly more expensive car that holds its value well, it could end up costing no more to own than a cheaper alternative.
The rate at which a vehicle depreciates in value depends on its condition and popularity. While this will differ for each individual car, certain makes and models lose value more slowly than others. At Stephen James, we specialise in new BMW and MINI cars, brands known for their premium nature and superior build quality. It is their desirability and quality which means that they hold their value remarkably well.
Explore our range of new BMW cars and new MINI cars online or at your nearest Stephen James Group showroom in London.