5 Things You Should Consider Before Buying A Vehicle

Purchasing a new vehicle can be a fun and exciting process, but it should also be taken seriously. Buying a car is a lot like buying a home, it’s a substantial purchase, and once you sign on the dotted line it’s almost impossible to return. If your thinking of buying a new or used car, be sure to check out the items below before you make your decision.

  1. Insurance costs for the vehicle

Insurance prices for different automobiles can vary greatly. The color, make, and model of your car all contribute to its insurance costs. When you’re looking to purchase a vehicle, speak with your insurance provider and do research online to find out how much it will cost you to get on the road.

  1. Maintenance costs

When purchasing a vehicle, take into consideration the cost of repairs in the event of an accident or mechanical problem. Certain high-end cars become affordable when they are sold used, but still have extremely expensive parts that are difficult, and sometimes impossible, to replace. With over 500,000 accidents occurring in Canada per year, you’ll want to make sure that the repairs on your car won’t out-value the vehicle itself.

  1. Safety ratings and extra features

A high safety rating on your vehicle will save you money on automobile insurance, and keep you and your family safe. If you’re purchasing a used vehicle, have your mechanic test out the safety features to make sure that they are in working order before you purchase, or try looking for a repo car auction online, one of them might be the right one for you.

  1. Where and when to buy

If you’re purchasing a brand new car, make sure that you don’t take the initial price as the final price. Often, car salespeople have room to negotiate with customers, and this could save you quite a bit of cash. Purchasing a vehicle at the end of the month is usually better that at the beginning. Salespeople need to reach their quota, and will be more inclined to give you incentives to purchase.

If you’re purchasing used, or from a website, ask if you can have your mechanic look at the vehicle before purchasing, and ask to see the service records for the vehicle. If the seller refuses, there may be something wrong with the car that they are neglecting to tell you.

  1. What to look out for

Look out for cars that have poor safety ratings, or used cars that are so old that replacement parts for the vehicle would be impossible to come by. Make sure that you take the car for a test drive before you purchase, to make sure that everything is in working order, and that you enjoy driving the vehicle itself. If you’re purchasing an old car, take a look at the fuel efficiency as well. Some older models may be much more appealing price-wise, but could end up costing you more at the gas station.

If you’re in the market for a new vehicle, make sure that you research insurance policies and rates, and choose the best policy that fits your budget and the type of vehicle you’ll be driving.


Alex is a small business blogger with a focus on entrepreneurship and growth. With over 5 years of experience covering the startup and small business landscape, Alex has a reputation for being a knowledgeable, approachable and entrepreneurial-minded blogger. He has a keen understanding of the challenges and opportunities facing small business owners, and is able to provide actionable advice and strategies for success. Alex has interviewed successful entrepreneurs, and covered major small business events such as the Small Business Expo and the Inc. 500|5000 conference. He is also a successful entrepreneur himself, having started and grown several small businesses in different industries.