Hey everyone, it’s Friday!!! So, welcome to Friday Finance with Josh! Today, I’m going to discuss something that all growing families are going to have to do sooner or later. Families out-growing cars are one of the biggest reasons for low mileage used cars on the lots today! That being said, it may be about that time for you. If so, here are a few things that you should think about as you buy or finance your new family car…
Think About How Much Your Family Is Going To Grow
When you buy a car, you are making a long term investment in transportation for your family. In many cases, family cars will last them 10 to 15 years. If you’ve recently become a mom and want to buy a safer car, think about how many children you might have over the next decade. Once you know how much your family is going to grow, you can narrow down your reliable options.
Your Car Is Your Family’s First And Only Line Of Defense On The Road
It’s amazing how much time the average American spends on the road! I remember years ago, I was told that the average american spends 2 years of their life at a stop light or stop sign. Being on the road opens your family up to all kinds of dangers. Now, I don’t want you to be afraid of the road, I want you to be afraid of driving a tin can on the road. Having a car with a high safety rating should be the most important factor in your decision to choose one car over another.
Set A Budget Before Shopping
There are several car payment calculators online today. To search for your favorite on Google, click here! Before going to any car dealership, it’s best to take a look at your budget and see how much room you have to add in a car payment. If you don’t, you may make a decision to buy a car that you later find that you can’t afford! Once you find out how much money you have to spend on a car payment, use a car payment calculator to find out how much money you can afford for the total cost of the car. Once you set your budget, make sure to stick to it!!!
We Are A Breed Of Negotiators
I recently read an article at KRANTCENTS called Negotiation Starts When You Ask A Question. This article really made me think because it suggested that we are raised to negotiate. The article explained how we are raised as negotiators. Even when we are young children, we negotiate for what we want! For some reason, this natural bread negotiation skill seems to be hidden by a mask of fear. No one seems to negotiate prices any more. But, that won’t be you! When you go to the dealership, you know that they marked up the price of that car to leave room for negotiation. So, you have to play the game too! Choose a car that is a thousand or two more than you can afford. When it’s time to talk business, say something like “I really like this car. I don’t see anything else, this might be the one.”. The salesman will say “Great, let’s get to the paperwork”. That’s when you bring up your budget and, some things you don’t necessarily like about the car. Don’t back down and spend more than you went to, chances are, if it’s within reason, you will drive home in the car anyway!
Your family car is one of the most important investments your family will make! If you think about these 3 factors as you shop for your next family car, you are sure to make a wise investment in yours!
About The Author – Joshua Rodriguez
This article was written by Joshua Rodriguez, proud owner and founder of CNA Finance and avid personal finance journalist. Join the discussion with Joshua on Google+!