Last updated on November 20, 2019 at 09:57 am
Many of us, including the folks here at Plymouth Rock Assurance, have felt the stress of purchasing a new or used car. There are a lot of details to cover, and you always want to make sure you get the best deal. Below are three things that to remember before you buy a new car. Remember it can be easy to forget in the heat of negotiation something that may cost you more in the long run.
- Car Insurance: While buyers realize the need for insurance before driving a new car off the lot, people often don’t think about the cost. If you plan on financing or leasing a new car, your lender or leasing company will most likely require comprehensive and collision coverage as part of your new policy. Also, if you are swapping a minivan for a Maserati, you can expect an increase in your insurance cost.
- Maintenance: New cars are great and relatively maintenance–free, but you will still need oil changes, brakes, tires, fluids, and more. The cost of routine maintenance can vary greatly if you are trading in your standard midsize for a luxury sedan. Ask around at the dealer and online to see what the average cost of maintenance for your new car will be so you are not caught off guard.
- Resale Value: You may not be thinking about your next car in the middle of negotiating for the current one, but resale or trade-in value can be important down the line. When it is time to trade in, your current car can be a real asset. You can look up online what cars hold the highest resale value; in 2013, it was the Toyota FJ Cruiser according to Kelley Blue Book.
Will you be purchasing a new car soon? Share your tips, methods and strategies in the comments.
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