New wheels on your radar? 5 key things to help you choose

Getting a new set of wheels is always exciting, but whether you’re looking to upgrade to a new beaut model or get on the road in your first set of wheels, it pays to do a little groundwork to make sure you choose the right car for your lifestyle and financial bottom line.

5 key things to help you choose wisely...

How much can you afford to spend?

Land Cruiser tastes, Suzuki budget? You’re not alone! While we might dream of cruising in the top of the range model, it’s important to stay focused on how much you can realistically afford to spend. If you plan on taking out a car loan, make sure you can comfortably cover your repayments within your budget on top of your everyday living expenses and any other loan commitments you might have.

Run the numbers for yourself - find out what your car loan repayments could be with our loan repayments calculator.

Fuel and cost to run

With car rego, repairs, insurance and servicing to budget for, plus ever-increasing prices at the bowser, the cost to run your car each year can be pretty sizable. That’s why the fuel economy (km’s per litre) of a make and model is super important to throw into the mix when it comes to choosing the right car. The Green Vehicle Guide is a great online resource that helps you compare 3 vehicles side by side to see what the annual cost of fuel might be. It also gives you a snapshot of each cars’ CO2 emissions so you can compare their environmental credentials too.

Safety first

It’s likely that the style and colour of a car, or whether it has 4 wheels or 2 will be higher on your new car checklist than its safety rating, but here’s why safety really should come first: A study by Monash University found a driver in the least safe car is 10 times more likely to be killed or seriously injured than someone in the safest car - so be sure to make your and your passengers’ safety a priority when it comes to choosing a car. Before you buy, check the ANCAP safety rating of your car’s make and model, with 5 stars being the highest.

Lifestyle and size requirements

Your lifestyle and transport needs should also be high on your checklist when you’re thinking about what make and model to go for. Will you be using your vehicle for work or transporting sports gear or other equipment? Or will your wheels be more of a people mover? Do you have pets to accommodate or are you looking for something that can hold up well on off-road adventures? Narrowing down your options becomes much easier once you really zero in on what it is you’re looking to get out of your new car and the life it can help you to lead.

Depreciation and resale

Even though there’s a lot of truth to the saying that the value of your car drops the moment you drive it out of the car yard, some makes and models really do hold onto their value better than others. To get an idea of a particular model’s resale value, look at the current sale prices of older models of the type of car you’re looking to buy. According to Cars Guide the brands with the best resale value after three years are Land Rover/Range Rover (61%), BMW (58%), Porsche (58%), Subaru (56%) and Toyota (55%).

Get on the road with a great little car loan

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