Seven Things to Consider Before Buying a Car

Your old car might be running on its last tires and you know you are going to have to replace it eventually. Buying a car in Malaysia can be a challenging procedure, but with these 7 car-buying tips you are bound to make a good decision!

1. Take your time

If your old car is still not falling apart, why rush the process? Don’t just take the first offer you see, but wait a while. If you assess a larger selection of cars, you can spot a good deal much quicker.

2. What is your budget?

Before you do anything else, you should seriously consider what kind of money you want to spend on your car. The process of buying a new car in Malaysia tends to make you doubt your maximum spend a lot. There are so many offers, so many prices, it is easy to get confused. If you took some time to figure out what kind of car you can actually afford you are less likely to overpay on your purchase. Lastly, don’t forget to check out the car’s fuel efficiency, with the way fuel prices are going, you don’t want be too dependent on petrol. Also, don’t forget to use a credit card with petrol cash back for your petrol purchases.

3. New or old?

Even if you can afford a new car, why not save some extra money and buy an older car? Older cars are simply much cheaper than buying the newest model. Cars have a long lifespan, so if you don’t care much for aesthetics, an old car will suit your needs just fine.

4. Buy or lease?

Cars depreciate in value when they get older. Classic investment theory states that you should never buy a depreciating asset, so why not go for a lease? Buying or leasing can be an important decision that most people take way too quickly. If you do plan to buy a car the conventional way, you are most likely going to need a car loan.

5. Research

Research, research, research. Before making any large financial commitment you should collect as much information as possible to help you find the best cars in Malaysia. If you know the specifics of the car you plan to buy, you are better at spotting any defects during your inspection.

6. Take more than one test drive

This car is going to be with you for a long time, so why not take a few more rides to really get a feel for it? Just one ride is usually not enough to get familiar with the feel and speed of the car

7. Do a final check

Before you make the final transaction, make sure that everything is where it is supposed to be. The seller might have stripped the car down to the essentials between now and the last time you saw the car. If your knowledge about cars is a little rusty, bring you mechanic friend to check out all the more technical specifications so you won’t get cheated into buying a broken car.

This article was contributed by CompareHero. CompareHero is the leading Malaysian financial comparison platform, aimed at educating Malaysians and helping them save time and money.