Did you know that Americans spent $460 billion on new cars in 2019? That’s an increase of $8.4 billion from the previous year. 2019 saw the sale of almost 17 million cars.
New cars signify financial stability and independence, an investment for the future of your family. There are a lot of factors to consider when buying a new car.
The rules completely change when you’re thinking of buying a new sports car, however. There are more things to consider and questions to ask before taking a step toward buying the car of your dreams.
Keep reading to learn what you should be asking before deciding to indulge in this style of car.
1. Have You Considered a Budget?
A sports car cost can get pretty high. This is something you probably already know and have the resources for if you’ve given it any serious consideration. Nevertheless, it’s crucial to create a budget for any type of spending, especially for a car.
The first thing you’ll want to think about is the down payment. It’s a good idea to have anywhere from 10 to 20% of the car’s price to put down, which will help decrease how much you’ll end up paying in interests.
When making your budget, you should consider that car payments shouldn’t be more than 10% of your monthly income. Once you’ve worked this all out and made a budget plan, you can start looking into the type of sports car you want.
2. What Style of Car Do You Prefer?
There are so many sports car brands to choose from that it can get overwhelming to know which is best! It comes down to personal preference in the end, but there are a couple of factors that can sway you towards one specific brand.
In ferrari vs lamborghini case, differences in speed and body style may help you make a decision. Ferraris are known as the fastest sports cars on the market. Lamborghinis are more round-shaped, and Ferraris are more triangular.
While most people think sports cars have to be convertibles, there are also some great coupes you can decide on instead. But if you envision a sports car convertible, there are many brands to choose from, anything from a Mercedes Benz to an Audi.
3. What Qualities Are You Looking For?
Before making a purchase, you have to ask yourself what sports car features are essential to you. You want to make sure the car you invest so much into is one you enjoy taking out for a spin.
If you’re looking to tap into your adventurous side, think about a vehicle that offers superior speed. If you’re more interested in the look, there are plenty of cars that prioritize that. And you can always find a car that delivers on both if that’s important to you.
You should also think about your new car’s technology. Modern cars come with so many innovations, it can take some time to learn it all.
While it can seem overwhelming, new safety features are important to have. Drive-assist and the emergency braking are two things you should consider when shopping for your new car.
4. What Type of Usage Will Your Car Get?
What’s the first thing that comes to mind when you think about driving sports cars? Is this something you see yourself driving every day or only on special occasions? How often you expect to drive your new car should be a factor in the type of car you end up purchasing.
Some sports cars are comfortable enough to drive every day, while others should only be taken out on the weekends. If you’re more into a sports car for its look, keep in mind that some of these cars don’t offer the greatest visibility and use more gas than your average car.
5. Have You Considered Insurance Premiums?
You must ask about insurance before making any decisions about buying a sports car, especially if it’ll be your first one.
Adding a new car to your policy can increase the amount you pay for insurance each month. Keep in mind that sports cars are more expensive to make and are more expensive to insure.
Talk to your insurance company about how much you can expect your bill to increase before making any new purchase. There are some great resources online to help give you an estimate of what you can expect to pay with a new car or talk to an agent directly to get more concrete answers.
6. Will You Have the Space for It?
When getting a new car, you have to make sure it accommodates your needs and your family’s needs. It might seem obvious, but if you live with others who have cars, make sure you have the space for a new addition.
You should also think about the other people who will be riding in your car. If you expect to be driving others around, make sure the car you choose is comfortable enough for everyone.
7. Do You Know the Costs of Maintaining a Sports Car?
While you’ve already calculated monthly payments and insurance premiums, you can’t forget that maintenance on a sports car can get pretty expensive. The parts for a sports car are much more expensive because they aren’t manufactured as much as the parts made for more traditional cars. You’ll want to give that a thought before deciding to buy a new car.
Do Your Research Before Buying a Sports Car
A sports car is a beautiful thing, and buying one is a dream come true for many. There are some questions you should ask before making any decisions, however.
Make sure to check out some of our other blogs to learn more!