The purchase of a car is an important decision for every person, as it involves a large amount of expense and thus, adequate time should be taken to think over the selection of any particular car model. The car is a necessity for many busy people to reach the workplace in time, without wasting time in waiting for any public transport. But some people may have a passion for buying a car that will make driving more enjoyable.
Factors that may influence the selection of a car
Buy a resale car for low salary – The total annual salary of a person should be considered before going through the different car models, for purchasing any of them. It is essential for a salaried person to have sufficient income to manage the cost of a brand new car. In case of low salaried people, they may consider purchasing a resale vehicle that will be available at reasonable price.
- Choose cheaper car for short distance travel – If the buyer needs to travel very short distance between his home and workplace every day, then it is better to buy a cheaper car that will be available in a price that is maximum 10 – 15% of his yearly salary.
- Opt for a costlier car for longer driving – But if the buyer intends to drive the car for weekend trips to larger distances and also he may need to often travel elsewhere for official purposes, then the car should be more comfortable and durable. So in this case, it is better to invest minimum 20 – 25% of his yearly salary for buying the car and the car model within that price limit can be selected.
- Invest heavily on luxury cars if too passionate – If the buyer is really passionate about cars and extensive driving, then he may consider about paying even 50% of his annual income for this purpose if his financial obligations allow him this expense. The costly cars are given all the homely comforts and safety measures, making the car as good as one’s own home.
- Choose the brand for getting a suitable car – The price of a car often depends on the brand value of its manufacturer. So the cars of lesser known brands may be available in lesser costs, even if it has all the comfort features. But people rely on the renowned brands and also the cars of good brands have better resale values.
If someone finds the purchase of a car too costly, he may consider about taking a car on lease for meeting his requirements of daily travel, at a much lesser expense.