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New Cars: You're Not Married to Them
By Myer Thompson Published: 12/07/2009
You can't argue the beauty of a new car. They're nice, sure. I never said they weren't. There are a lot of pros when it comes to financing one. Sure, the price can be prohibitive, and yes if your credit is not so hot, you could be paying twice its value in the long run, but a new car is a new car. It's like saying a diamond is expensive -- of course it is: it's a diamond.
Research is key, key, key. You have to do your homework before you head down to your local dealership and sign away $350 a month. You need to get the skinny, get the scoop. For 99.9% of the people wanting to buy a car, that means getting online and firing up a search engine to fetch you reams of information.
Get everything, amigo. You need prices, custom packages, resale value, Consumer Reports ratings, the whole nine yards. And don't be satisfied with comparing one or two sites. Don't tell the fat lady to sing until you have at least 4 or 5 sites and price points to compare. After the limelight has burnt out and you've got a two-year-old car on your hands, you'll thank me.
Keep your shirt on. Don't let yourself get suckered by the multi-million dollar commercial with the slick Hollywood actor voice-over. Pick a car because it fits your needs, not your raving ego. Make sure you see how it performs. Make sure you find out its maintenance needs. Does the thing burn through gas? Does the timing belt snap after 100,000 miles? Knowing what to expect will help you budget the cost of repairs.
Don't kid yourself. A car is one of the biggest investments you'll ever make in your life. Finding new cars for sale is easy enough. It's not like getting married, but it is like getting into a long relationship. Do you want to spend the next five or six years with this car? Can it give you everything you need? What if your needs change, how will it hold up? You can't afford to give in to lust. This is strictly business.