It is no secret trying to purchase a new car, or even a used car isn’t an easy feat right now, so how do you do it? Some people have been waiting to get into a new vehicle since the turmoil in the automotive industry started, but the time has come. If you are looking to get into a new car, check out these tips from Consumer Reports.
Consumer Reports says that if you can’t wait any loner for a new car, jump on it
No one actually knows when prices are going to come down. At this point, Consumer Reports says you can still find a suitable vehicle at a mildly reasonable price. If the time has come to get into a new car, go for it. One of the best pieces of advice for the current situation is to be flexible.
If you want a car, be flexible on the little details. The trim level, paint color, or even the model you want might not be available. Look around and keep an open mind. There might be a new trim level that wasn’t available before that would work. Maybe you will find the right car in a different city.
Check out all of the popular online websites to see what is available. Try AutoTrader, Cars.com, or even the manufacturer’s site. This will give you a better idea of what is out there.
If your car lease is ending, Consumer Reports says to review your contract
Back in the days before semiconductor chips and vehicle shortages, ending your lease was an exciting time. Now, it brings feelings of dread. But it isn’t all bad. Consumer Reports says to check out your lease contract. If you aren’t ready to buy or lease another car, can you buy the vehicle you are currently leasing?
This is usually called a buyout option, and it could be a great idea. The terms of your lease that is about to end were created pre-pandemic, meaning your buyout price doesn’t factor in any of the current automotive drama. Check the buyout price and compare it to the current prices of your vehicle to see how it adds up.
Consumer Reports has a Trade-In Value Estimator to help find the value of your current car. If you still want to get a new car, you might be able to use the high value of your leased vehicle to get a better deal on your new lease.
Know your current cars value before making a decision on a new car
If your automobile is currently broken and needs to be fixed before getting into a new car, weigh those options. Consumer Reports has a Car Value estimator and a Car Repair Assistant to get outside opinions. If your vehicle is going to cost $6,000 to fix, but the value is only $5,000, it doesn’t make sense to fix it.
Perhaps you are looking for a car for a teenager. While it seems like a good idea to hand over a used car or a hand-me-down, Consumer Reports says you want to get the newest and safest car you can. With the way safety features and crash avoidance technology have advanced in the last few years, it makes a huge deal.
Consumer Reports suggests looking for a car with electronic stability control (ESC). Check out the scores from the Insurance Institute for Highway Safety (IIHS) and the National Highway Traffic Safety Administration (NHTSA). Check for above-average reliability and handling on Consumer Reports road tests.
Some SUV and sedan ideas to get you started
You can usually find a good deal on the 2022 BMW X3, as it isn’t the most popular SUV in the lineup. The X3 is “superbly built, quiet, comfortable, and fun to drive,” according to CR. Check for a sub-$500 per month lease range with a sizeable down payment ($5,000 or more). The 2022 Toyota Camry tops the charts for reliability and popularity. The new Camry is roomy, fuel-efficient, comfortable, and safe. Toyota loads the Camry with active safety features for drivers.
If you want to lease a new 2022 Kia Sportage, Consumer Reports says you should be able to find a lease for around $170. The Sportage is compact but has plenty of room and solid fuel economy. This SUV is set for a redesign in 2023, so you might be able to find even better deals, especially on the front-wheel-drive option.
It might not be the ideal time to purchase or lease a car, but not everyone can wait. Do your research before jumping into a new vehicle so you get the best deal that will be sustainable for the length of ownership. Consumer Reports has extra safety ratings and owner opinions listed if you are stuck between two reliable vehicles.