If you have decided to purchase a vehicle, it’s most probably a decision you haven’t taken lightly. The vehicle you purchase will make a difference in the quality and convenience of your life, and it has to be a worthwhile purchase. But different factors go into choosing the right vehicle, and these include your budget, the vehicle’s purpose and overall use, performance, functionality, practicality and economy, and more. If you want to make the best decision, here are the top questions you should ask yourself when purchasing a vehicle.
Should I choose petrol or diesel or alternative fuel?
Along with questions about the type of vehicle you want, whether it’s a saloon or hatchback or SUV, you should also carefully consider whether you would benefit from petrol, diesel, or an alternative fuel engine. Many cars only have petrol, but there are now more manufacturers who are also offering both petrol as well as diesel-engine vehicles. Alternative fuel vehicles such as mild-hybrid, plug-in hybrid, hybrid, and electric are also becoming more common and could be a good choice, particularly if you drive a lot.
Here’s one thing to remember: if you drive less than 12,000 miles annually, petrol is a good choice. A vehicle with a diesel engine will be more expensive than a vehicle with a petrol engine, and you would need to cover plenty of miles to make up the vehicle’s price in savings on fuel. And hybrid cars, while offering lower costs of operation, can be costlier than petrol as well. Think about the kind of journey you will be making with your vehicle. For short trips, petrol is best, but for lower economy and emissions, a diesel engine combined with a mild-hybrid engine may be ideal.
How will I pay for my vehicle?
Another big question to ask yourself is how you will pay for your vehicle. More than 75% of vehicles bought in the UK have some form of financing, and a lot of dealers offer the best new car deals via financing, so even if you have the cash for it, it doesn’t always mean it’s the best way to pay for your car. When choosing to finance, make sure to think about the total price along with your monthly repayments. You should also think carefully about the final figures of the settlement in the finance deal you choose, as this is often higher than the monthly payments.
What are the costs of running my vehicle?
While it can be quite tempting to go for your dream car or vehicle if you are able to secure a good deal or have the funds for it, think also about the costs of running your vehicle maintenance. These running expenses can easily add up, and if you spend too much on fuel or your insurance premiums, this could leave you in the red.
Think about aspects such as road tax, so you know your tax obligations and fees. For example, unless you own a zero-emission vehicle, you will have to pay £150 annually from the vehicle’s second year.
With all these different factors to consider, purchasing a vehicle can be a challenge – but as long as you know what to expect and have the right knowledge, then you can also make the right decision.