Buying a new car is a heavy investment, and a car’s purpose is basically to take you from one destination to the next safely and fast, and comfortably. As it is a big investment in terms of money, the first consideration when you wish to buy a new car is to determine a market value on the vehicle.

To do this, check out the prices of the vehicle you are looking at. This can be done initially by checking web sites of car vendors. While car manufacturers have websites, you would either be dealing with the dealers or showrooms, and it makes sense for you to check the websites of notable dealers of the brand of car you are looking at.

Since buying a car is a substantial investment, it pays for you to spend time to ensure you make an intelligent purchase. There may be car models with a lot of attractive packages and facilities, but if these are the frills and extras that you do not need to splurge on, getting a basic car with sufficient power, and reasonable accessories may be just what you need to start off with.

Smaller and newer cars provide good fuel consumption and in an era where gas prices are high, it is important to understand that apart from the re-payment of the cost of the car, you need to pay for recurrent gas and petrol to run a car, not to mention the other cost items such as car insurance and in some countries, road tax.

Here are some guidelines and tips that will assist you in shopping around for your car.

1. Shop within your means. If your budget is too low, consider a used car rather than a new one.

2. For a good bargain, wait for end of model year bargains when newer models will be introduced and the older model will provide a good discount

3. Use the websites of manufacturers and dealers to get an idea of the car you intend to buy. Study the details and compare to your personal requirements

4. Find out the resale value of the car you intend to buy so that you can have a fair estimate of the resale value a year or two down the road

5. Find out the financing terms from the dealer and compare to other financing sources.

6. Work out the financial incidentals like road insurance, road tax etc that will impact on your budget

7. If you are buying a used car, always ensure the vehicle is covered by a road worthiness certificate or a warranty. This will ensure you do not end up with a lemon!

Peter Lim is a Certified Financial Planner. For more free tips on buying your car, irregardless of whether it is a new car or a used car, or to research information on car financing or insurance quotes, visit the website
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