Important Factors to Consider When Buying a CarJune 8, 2014
When buying a car, particularly if it’s your first time doing so, there are certain factors that you need to take into consideration. These factors revolve around the costs of things connected to the car after you have bought it. In the following article we will discuss the 5 most important of these factors.
The Cost of Fuel
The first factor to consider is how much a particular car is going to cost you to run it. That might sound like perfect common sense to you, but you would be amazed at the amount of people who still do not pay attention to the miles per gallon of fuel of a car and just buy it. If you do a lot of travelling, for instance on a day to day basis to work, then you should make sure that you are going to be able to afford topping up and refilling the fuel tank when it runs out. All car manufacturers nowadays make information about the fuel efficiency of a car available.
Insurance is another big factor that many people don’t put much thought into. There seems to be this ill-informed idea that insurance will cost the same regardless of the type or model of car you buy. This I nonsense, as a car that has a bigger engine will normally be more expensive to insure, and it is not only the type of car that can affect the cost of insurance, but also your age. If you are a younger driver, with very little experience, then an insurance company will consider you a much riskier customer and will set your insurance premium much higher than the 40 year old that has been driving for 20 years with no penalty points on his licence. For more information on car insurance head over to Yes Loans.
The Road Tax
Another important factor to keep in mind is the cost of the road tax. This is calculated based on the CO2 emissions of a particular car. Therefore, the higher level of CO2 a car has, the higher the road tax will be. You will find that there are some, incredibly economical cars that produce a low level of CO2 emissions that you will have to pay very little or no road tax at all on; while others can cost hundreds of pounds. You should always ask the seller how much the road tax costs on a car, and when it is due to be renewed. This will help you to be aware of any upcoming payments you need to make for the car if you choose to buy it.
Generally speaking, maintaining a car in good condition does not cost very much. However, if you buy a car that is jam packed with extras, this might mean that there is more to maintain. Always check things like the tyres and ask the seller when they were last replaced and when they need to be replaced again.
Finally, you also need to familiarise yourself with how much a particular car is going to cost to repair. Although this is more of a problem associated with buying a used car, that perhaps has seen it’s better days and needs a lot of work, it is still something you should look at when buying a brand new car.