• New Car Buying Guide

Illinois New Car Buyers Guide

If you are in the market for a new car you are at the right place to find the best tips and advice to help you to select the perfect vehicle!  In fact, 4DMV.com has compiled all the information you need to know to make the best informed decision in the purchase of your new car.

Why Buy A New Car?

There are many reasons Illinois drivers decide to purchase a new car.  In fact, if you are an Illinois driver, you can expect that you will likely purchase a new vehicle at leas once in your lifetime.  There are many reasons to purchase a new car such as:

  • Great gas mileage
  • Green for the environment
  • Safety features and technology
  • Prestige
  • Reliability
  • Financing

There is something nice about a vehicle that is fresh off the lot and when you are in the position to purchase a new vehicle then you will want to ensure that you do your homework to ensure that you get the best value.

What to Consider When Buying a New Car

When you are contemplating whether or not to purchase a new car, there will be things that you will want to take into consideration.  To start, you will want to ask yourself questions such as:

  • Why are you considering buying a new car?
  • Who will use the car?
  • Can you afford purchasing a new car?
  • How are you paying for your new car?
  • What is your budget?
  • What features do you want in a new car?
  • What technologies do you want in your new car?
  • What safety features do you want?
  • What kind of gas mileage do you want?
  • What safety features are important to you?

Answering these questions will help you in your preliminary search as you begin to narrow down what you are looking for. 

Can You Afford a New Car?

When of the most important questions you must ask yourself is whether you can afford the purchase of a new car.  There is a big difference between desire and the reality of whether you can actually afford the new car.  Be smart and be honest and do not get in over your head.  Good intentions are great, but you must be realistic and know that you can afford the vehicle and the monthly payments that come along with its purchase.

If you were speaking with a financial expert, they would advise you:

  • Not to spend more than 20% of your net income on your monthly car payment

How you determine what that number is you must:

  • Determine what your take net income is (this is your take home pay after deductions)
  • Subtract all your monthly fixed expenses
  • The amount that remains is considered to be your spendable income
  • Once you know your spendable income you can then determine 30% of that income

Once you have determined how much you can comfortably spend each month you will want to ask yourself:

  • How much will you be able to put down for your down payment on the vehicle?
  • How much can you comfortably afford as your monthly car payment?
  • How much can you safely spend in the total cost of the vehicle?

You must also remember that the cost of the vehicle will also include sales tax, licensing fees and any other fees associated with the car.  There is also insurance which must be purchased which is an additional cost.

To determine your vehicle taxes visit 4DMV.com’s Tax Calculator section. 

When determining the price that you can afford to spend on a new vehicle, also consider you lifestyle.  Are you the type that likes to go out often?  Will you still be able to afford annual vacation?  Will you be able to maintain your lifestyle that you are currently accustomed to?  What if you have a layoff?  Or perhaps, troubles in your marriage?  Consider how the purchase of a new car will enter into each of these scenarios.

Once you have determined that you are ready to buy a new car, then you will want to begin your search to find the best suited car for your needs.

Begin Your Search for a New Car

Now that you have determined that you are ready to purchase a new car, know what you can afford in a new car and what features and options you want in a new car then it is time to begin shopping.  Start your search by:

  • Reading the weekly ads
  • Research forums
  • Shop car dealers
  • Research the Internet
  • Watch television ads

These are all great areas to begin to get an idea of what is out there and what the market values of the vehicles are.

Once you have begun shopping you can then narrow your search down based on your budget and what features and options are important to you in a vehicle.

One you have narrowed your search to two or three models you will then want to get serious about doing your homework.  This means:

  • Research the Internet to see what information is available on the make, model and year of the vehicle 
  • Research information at your local library.
  • Search newsstands for publications on the vehicles

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