If you have decided to purchase a used car to replace one that was recently totaled in an accident, then there are many things you should consider in addition to its upfront cost. Any car that you purchase will have monthly carrying costs, even if you pay for it outright with cash. To this end, here are some of the important considerations for purchasing your next new-to-you vehicle that you need to keep in mind while car shopping:
Consideration: The Cost of Car Insurance on Various Makes and Models
Since you will need to pay car insurance for every month you own your next vehicle, this is an important consideration when you are shopping. The make and model of vehicle you choose will have a direct effect on how much the insurance will cost. For example, while you may love the look and performance of a Ford Mustang, it will always be more expensive to insure than a Ford Focus. For this reason, you should obtain a quote for auto insurance for each type of car you consider purchasing.
Consideration: The Make and Model's Reputation for Mechanical Soundness
One advantage you have when you are purchasing an older vehicle is that you can review the reputation of the various makes and models. A simple online search will give you information about manufacturer recalls for known mechanical problems and other buyer's complaints about their own cars. While every make and model of car will have some common issues, comparing the recalls and reviews online you can get a decent idea which used cars have a reputation of mechanical soundness and those commonly found to be lemons by their owners.
Consideration: The Gas Mileage a Vehicle Gets in Town and on the Highway
Finally, one of the biggest monthly carrying costs of vehicle ownership is the gas mileage a car gets around town and on the highway. Each time you drive, this will help to determine how much the cost will be. While a difference in a few miles per gallon may not seem like a big deal, it will account for thousands of dollars over all of the years you own your next car. For example, a car that gets 20 MPG will use a third more gas over one that gets 30 MPG. After thousands of miles of driving your vehicle, you will pay hundreds of more dollars for the gas you use.
Contact a company like Matlack & Company for more information and assistance.