Part of married life is sharing your possessions and making financial decisions together. Buying a car is a significant decision for any couple, especially married ones, and involves planning your budget, long-term financial goals, needs, and preferences. As partners, you need to consider one another’s opinions during this process and how you’re going to finance the purchase. Here’s some advice for planning your big purchase.
Set a Budget
Not only do you need to establish a budget, but you also need to agree on it. Previously, you could decide how much money you wanted to spend without anyone else’s input, but that’s not how marriage works. One of you might want to buy something flashier and more expensive, whereas the other could be worried about overspending. Make the decision together based on the upfront costs and ongoing expenses like insurance, fuel, maintenance, and repairs.
Assess Your Priorities
Will you be driving long distances? Do you need space for your children? Is it crucial that your dog has space to stretch out on road trips? Will you be commuting? These are all questions you need to ask yourselves before determining the brand, model, and age that fits your lifestyle.
Research Vehicles
Part of your due diligence is researching the car market to see the options available to you in your budget that will meet your needs. Look for cars with a good track record of reliability, safety features, and resale value. Discuss your findings together and narrow your options to a few choices that meet your criteria.
Prioritize Safety
Nothing comes before safety. It’s easy to get swept up in the excitement of owning a new vehicle, but if it’s known to have safety issues, it’s not worth it. You and your spouse should be able to drive long distances without worrying that there will be an issue.
Choose a Brand and Model
Part of the reason that buying a car is so stressful is that there are so many options. You could spend months walking around dealerships and listening to salespeople pitch you all the reasons you should go with one of their models. Choose a few brands and models that interest you, and start by checking those ones out. Check out the popular vehicles of the past few years and use that information to help you decide. For example, Jeep sold 147,157 Wranglers in 2022, making it a popular model that may suit your family’s needs.
Ask About Maintenance Requirements
Cars need routine maintenance to run correctly, especially if they’re frequently driven. Operate with the mindset that something will go wrong with your car, and pick one that will have affordable and easy parts for a mechanic to order. Suppose you’re facing car vibrations, commonly caused by faulty components like universal joints, couplers, and carrier bearings, the three most common faulty car components. In that case, you don’t want to wait weeks or months for your car to be driveable again.
Learn About the Vehicle’s History
If you’re purchasing a used vehicle, don’t sign the dotted line until you know it’s past. It might look new and run decently, but it could have been in multiple accidents. Frequent accidents are a huge red flag, as even when someone is in a minor accident, they may sustain an injury that takes several months for you to realize the full extent of the damage.
You and your spouse make decisions together, and buying a new vehicle is a big one. Work together to make the best decision for your lifestyle, focusing on performance, safety, cost of repairs, and more. Once you know what you’re looking for, visit dealerships together and make sure each partner’s opinions and concerns are heard.
