How to Compare Different Cars
- 1). Set a budget. When car shopping, it’s easy to lose sight of the total costs. Setting a budget beforehand will assist in comparing vehicles you can afford. List the target monthly payment, expected loan term and approximate vehicle interest rate. Check out online calculators, such as Edmunds or Automotive.com, to determine the budget.
- 2). Compare gas mileage. Gas mileage is a large factor for consumers. Vehicles that get poor gas mileage drive up monthly transportation expenses. Manufacturers list two types of gas mileage, city and freeway. Choose the vehicle that gets the most gas per gallon for both categories.
- 3). Review vehicle consumer ratings. Consumer Reports Magazine and Automotive.com provides consumer reviews for both new and used vehicles. Enter the make and model to read about a variety of factors, such as reliability, owner satisfaction and accident avoidance.
- 4). Check vehicle safety. The government has created a website that allows consumers to search vehicle defects and search a complaint database on vehicles. Check this site before purchasing a vehicle.
- 5). Consider new versus used vehicles. New vehicles depreciate quicker, but people who plan on owning the vehicle for the long term may not mind. Financial institutions usually offer lower interest rates for financing a new vehicle. A used vehicle provides a lower purchase price and doesn’t experience the depreciation of a new vehicle.
- 6). Talk with the insurance agent. Another factor that will affect transportation costs is the cost to insure a vehicle. Have the insurance agent run premium costs for all vehicles you’re considering.
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