HOW TO CHOOSE THE “RIGHT” NEW CAR – TIPS FROM AAA

NEWS from AAA Oklahoma, March 25 – For many Americans, their vehicle is one of their largest financial assets. So when the time comes to purchase a new car, it’s not a choice that should be made lightly. With more new car choices than ever, AAA helps simplify the process.

• Determine what is affordable. Gauge how much your trade-in is worth and how much savings you want to put towards the vehicle. Investigate financing options available to you. Speak to your insurance agent to get a rough estimate of premiums on the type of vehicle being considered.

• Evaluate driving habits. Take a realistic look at how the vehicle will be used. What types of trips will it be used for most frequently? How many passengers will the vehicle need to carry? Will the vehicle be driven on the highway? Will you need extra cargo space?

• List needed features. Make a list of all required features the new vehicle should have, being careful to separate “wants” from “needs.” When making the list, don’t just think about needs today, but look several years down the road. Could children be in the future? Could the commute lengthen? Also, be sure to consider the vehicle’s fuel economy.

• Consider depreciation costs. The biggest yearly expense to new cars is depreciation. Research how much models being considered depreciate within the first few years.

• New – or new to you? Look at pricing options for both new vehicles, as well as models that are one to two years old. There are benefits to both new and slightly used models. New vehicles typically come with longer warranties, buying incentives from the automaker, the latest features and are widely available. Slightly used vehicles might offer a price break, but it can be more difficult to find the ‘perfect’ vehicle with the exact features a buyer is seeking and does not have buying incentives from the manufacturer.

• Review warranty and maintenance costs. Review the length of the warranty of vehicles being considered and exactly what it covers.

• Investigate safety ratings and features. Check the safety ratings of all models under consideration from National Highway Traffic Safety Administration (NHTSA) at SaferCar.gov and Insurance Institute for Highway Safety (IIHS) at IIHS.org/Ratings. If using a car seat for a child, check out if it is easy to access the vehicle’s LATCH system and installation of a car seat.

• Don’t limit your choice to one vehicle. Narrow the choices down to two or three vehicles that meet all the criteria, but do not narrow it down to only one. By allowing flexibility, buyers have more negotiating room and a better chance of finding the best possible price.

More information and useful new vehicle shopping advice is available at AAA.com/AutoBuying