Buy a Compact Car
If you are in the market for a used or new compact car, you are not alone, as this type of vehicle has become increasingly popular. Despite the small size of the vehicle, a compact car is a big expense for most people. Use the following tips to learn how to buy a compact car that has the features, ratings and price that you want.
Contents
Steps
Calculate Your Finances
- Determine how much you can afford in payments each month if you plan to finance the car.
- Decide how much money you can pay upfront, whether you are planning to put a down payment on a compact car or buy one outright.
- Think about trading your old car in to help lower the cost of the new compact car.
- Consider the expense of insurance premiums on each car that interests you. Keep in mind that vehicles with a lot of safety features and high ratings on crash tests tend to come with lower insurance rates. Also note that compact cars in general can have high insurance rates since they are more likely than larger cars to sustain excessive damages in an accident.
Choose a Car That Appeals to You
- Select the features in a compact car that are most important to you. These may include safety, handling, comfort, appearance, gas mileage or overall value.
- Think about what you will use the car for. A car that is excellent for daily work commutes may not be great for road trips. Note that some compact cars have more spacious interiors than others, even if the exteriors look the same size.
- Find out the extra options available for each vehicle if you are buying a new compact car. Features that used to only be available on luxury cars are now typically offered on compact cars, so you have several options, including heated leather seats, push-button start, and navigation systems.
Get Opinions on Each Car
- Talk to friends and family members who have one of the compact cars you are considering. Find out what they think about important factors like how the car handles, the comfort of the interior and the gas mileage it gets. Pay particular attention to opinions on the first two factors, as comfort and handling are two details that many compact cars are not known for.
- Read reviews and ratings compiled by the professionals, which are often found in magazines or reputable websites.
- Check out reviews given by car owners on websites that let the readers do the rating. This offers an overview of the pros and cons of each compact car by someone with experience driving it.
Test Out the Car
- Go to your local new or used car lot once you have narrowed your list down to a few cars. Consider a lot that focuses on compact cars, if possible, as you will have more choices this way.
- Pick a few vehicles to test drive, first making sure that the price is near your budget and that the car comes with the features you want.
- Return home and think about your experience testing each vehicle, and then return to the lot if you decide to purchase a used or new compact car.
- Buy the Vehicle
- Choose an appropriate car lot depending on whether you are buying a used or new vehicle. Make sure the lot has the compact car you have decided on, as most lots only sell certain makes and models.
- Apply for credit at the lot if you have decided to make payments. If you are pre-approved, bring in any documentation of this, such as a pre-approval letter. You will then arrange the payments through your lender.
- Check out the value of compact cars that interest you in the Kelly Blue Book. This way, you know whether you are getting a good deal when you buy, allowing you to negotiate with the salesperson once you know the standard price. Go elsewhere if you cannot get the price of the compact car down to its approximate Kelly Blue Book dealer value.
