Car Ownership Guide for Women: Buying vs. Renting

Owning a car is incredibly helpful for navigating daily life. While public transport can be readily available for some, it’s not always accessible or as convenient as some would want it to be. That’s why having access to a car can be incredibly helpful for anything, whether it’s commuting to work, dropping the kids off at school, or running errands around your local area.

However, with so many options when it comes to cars and vehicles available to buy, knowing what to pick can feel like a headache, especially if you’re not familiar with car ownership in general.

In this guide, we’ll simplify car ownership and give you all the information you’ll need so you can figure out what you need to buy or rent, depending on your needs.

Before buying a car

What are some of the basics that you should know when it comes to buying a car?

Do your research

First and foremost, it’s important to do your research. Cars aren’t cheap, whether you’re buying used or brand new. Therefore, you want to have a good idea of what you like, what you don’t lik,e and what you’re looking for in a car in general.

There are a lot of makes and models out there, which is why it can prove a little daunting to find the car that’s the right fit. The better way to approach it than looking at specific makes and models is to have a list of wants and needs.

That way, when you’re approaching a car dealership, you’ll hopefully be matched up with the car that ticks off all your boxes. You’re also more likely to be paired with a car that’s right for you, rather than seemingly having most of what you want but missing a few vital necessities.

Set a budget

A budget is also something you want to pre-determine before you go shopping for a car. The last thing you want is to be sold into buying a car that isn’t affordable for you in the long-term.

It’s not just the cost of the car on paper, but every other additional cost that comes with it. If you’re not buying the car outright, then you’ll likely need to be able to keep up with the monthly payments. You’ve then got to think about car insurance, taxes to pay while you’re driving the car on the roa,d and the maintenance of the vehicle too.

While you can’t always predict what is coming ahead financially, you should make sure that this is a car you can afford for the foreseeable future.

Check your credit score

Credit scores are important, especially when you’re spending a hefty chunk of money on a car or vehicle. Not everyone can buy a car outright with cash if they don’t have substantial savings.

That means many people will end up putting their car on finance, which means having a good credit score, so that they have access to as many lenders as possible. Not only that, but by having a healthy credit score, you’re more likely to get accepted for financing a car than being rejected.

If the purchase of a car heavily relies on you having a good credit score, then it’s important to work at improving it, especially if it’s not at its best currently.

Get pre-approved for financing

Financing is important for a lot of drivers and those looking to buy their car on finance. Ideally, it’s worth getting pre-approved for financing as this will make the whole purchase process a lot easier to navigate.

When you’re pre-approved, it can help you secure the car a lot sooner, which is necessary for many cars that might be sold as used, as you compete with other people who might be looking at that same car to purchase.

For those who are struggling with their finances, speaking to a financial advisor might be helpful. Find out how this company can help, and learn more!

Find a trusted dealer

Before you approach any dealers in your area. Be sure to find a trusted dealer. Read dealer reviews, and if it makes you more comfortable, you can always ask for a female salesperson.

Trusted dealers are a dime a dozen, so it’s good to make sure that you’re checking out their reputation before you walk through their doors. A bad dealer can end up pushing you into an agreement that ends up being a nightmare further down the road.

Inspect used cars carefully

Used cars, although a lot more affordable than buying a brand new one, should be looked over very carefully. There are plenty of great used cars to choose from, but there will be the odd few, whether sold by an independent dealer or private seller, that might not be quite what was promised on paper.

It’s therefore helpful to take the used car to an independent and trusted mechanic if you’re unsure about the condition of the vehicle. The seller should provide you with service history, too, so if this isn’t offered, consider it a red flag and run.

Negotiate on price

When it comes to the price, you should be willing to negotiate. All cars that are for sale are set at a face-value price, but almost often, there’s a wiggle room on the price of the car.

Get confident with negotiating and don’t feel shy about asking, because if you don’t ask, you won’t get.

Be prepared to walk away

If something doesn’t feel right, then it’s better to walk away than to be pressured into buying a car that’s not the right fit for you and your needs.

Before renting a car

When it comes to renting a car, it’s essential to know these helpful steps so that you’re getting the best value for your money.

1. Book early and compare
2. Use credit cards for deposits
3. Inspect before leaving
4. Understand fuel policies
5. Check insurance
6. Return the car on time

Car ownership is something that’s important to be wary of, even if you’re only renting the vehicle for a limited amount of time. Make sure to follow these tips and ensure your next purchase or rental is the right option for you and your needs as a driver.