Before You Begin
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As one of your
largest expenditures — a vehicle
represents a major financial investment, one that
will factor significantly into your financial planning,
your monthly budget and your spending plan. It is also
a practical and necessary means of transportation.
There is no one best way to buy your next vehicle.
Assessing your needs and priorities is probably the
most important consideration. When you assess your
requirements, you will be able to answer the questions
that lead you to the most appropriate vehicle.
This article is designed to help you examine your
decision from every point of view — lifestyle, safety,
financial, practical and personal. You will learn how to
identify your priorities, how buying new and used vehicles
differs, the difference between buying and leasing, what
financing options are available and how to sell a vehicle.
Being well informed will allow you to buy your
next vehicle with confidence.
Identify Your Priorities
Examine your decision from every aspect — lifestyle,
safety, financial, practical and personal. Consider
the following factors as part of your decision-making process.
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| If You Are Buying: |
Considerations |
| A New Vehicle |
Latest safety features and technology, new warranty, less maintenance. |
| A Used Vehicle |
Better buy, less depreciation, lower expenses on registration, licensing
fees, insurance premiums. |
| Decision Factors: |
Considerations |
| Buying Options |
Local dealerships, online resources, buying services, vehicle brokers, private party. |
| Requirements |
Passenger seating, cargo space, towing capacity, off-road capabilities, comfort. |
| Fuel Efficiency |
EPA estimates, engine size, transmission, air conditioning, load capacity, road conditions, driving habits,
advantages and disadvantages of hybrids. |
| Safety |
Crashworthiness, safety ratings, safety features. |
| Reliability |
Consumer satisfaction ratings. |
| Comfort |
Smooth suspension, easy steering, quiet cabin, plenty of leg room, luxury seating, audio system. |
| Styling |
Design, color, exterior, interior features. |
| Insurance |
Annual insurance costs. |
| Vehicle Price |
Rebates, discounts, option package discounts, trade-ins, available financing. |
| Affordability |
Monthly payments, fuel, insurance, maintenance, repairs, taxes, registration, license fees. |
| Resale Value |
Future marketability: automatic transmission, air conditioning, leather upholstery, antitheft system, safety features, other accessories. |
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Updated Thursday, March 05, 2009
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| © The USAA Educational Foundation, 2000 -
All rights reserved.
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