Car, Truck, SUV, Minivan or specialty vehicle? Compact, Mid or full size?
4, 6,8,10, or even 12 Cylinder? Diesel?
Good Mileage? Good Looks? Status Symbol or Practical A to B car.... ?
Don't buy the wrong vehicle. This is a decision that you may have to live with for the next 5-7 years, or even longer. Trading out early can be expensive, so make good decisions the first time.
Usually, there is a motivator that puts the idea in your head to upgrade your vehicle. It could be a lifestyle change, you might see something you like or worse, you could be presented with an immediate need in the form of repairs that don't make good financial sense, or your vehicle is declared a total loss due to an accident or theft.
Whatever the reason, if it has to do with a specific need change, then start building your next vehicle in your mind with that specific need as a foundation.
For example, you are now expanding you family and you decide you definitely need something with 7 passenger seating. As a start, I would conduct a basic search on the internet generically, such as "Vehicles that have 7 passenger seating." I just did and got a million hits. Everything ranging from a list of AWD vehicles to Top Ten Lists, to worst ten lists.
Assuming you can build a list of 5 vehicles that appeal to you, you now have your starting point. Next, make a list of the things that you like the most about your old vehicle. It may have been specific equipment like a sunroof, heated seats, back up monitors, the list can be extensive. Make that list just as long as you can. You are about to spend a lot of money so at this point we have to try to get what we want. We can deal with the cost later. Then, make a list of things that you wish it had.
Now make a list of options or physical traits that you did not use or care for. Not enough cupholders or storage is very common. Portability such as fold down seats and multi function capabilities are very popular. Maybe you had it and did not use it, maybe you wish you had it. The list, again, can be as extensive as you like.
With your list narrowed down to 5, you can now take them one by one and match up the good with the bad. Consider very carefully as you go the importance of every little or big item on your lists. You may find that you are now down to only one or two options in vehicles or maybe none at all. Start over if you have to.
Bear in mind that other than utilizing some basic common sense, I have not spoken about price as of yet. At the end of the day, it may surprise you to know that most people are way more interested in getting as close to what they want as they can than what they pay for it. Don't get me wrong here. Price is important. I know this because I buy things too. But I do find that I put much more emphasis on getting what I want when I can, rather than what I have to pay.
To sum it all up for today; Once you have decided that you are definitely going to upgrade to a new or new to you vehicle, you should follow the following steps to ensure you do not make the wrong selection.
1. Conduct a cursory search of vehicles available in the marketplace that satisfy your major motivator, such as 7 passenger seating, or greater towing capacity.
2. Narrow the field to the 5 vehicles you like the most.
3. Now make 3 lists. The first is the things you liked the most about your current vehicle. The second is the things you liked the least. And the third is the things you wish the vehicle had.
4. Spend some time matching those lists against the vehicles that make the top 5. This will involve some give and take in order to satisfy the majority of your checklist.
At this point you should have been able to come up with 2 vehicles that will more or less satisfy almost everything you want in your next vehicle.
A little preparation time today will save you lots of aggravation later. In my next blog, I will give you some pointers regarding what may be important to you in deciding whether to buy new or used, how to select a few dealers to visit, and how you should pay for it. The decision whether to pay cash, finance or lease is always a hot topic.
Until next time, Cheers!
The Skipper
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