by Dan Creamer

Created on: July 14, 2009   Last Updated: July 19, 2009

Buying a new vehicle is the second largest expense many people ever experience beside their purchase of a domicile. It can be a fun and exciting experience or tantamount to being hit by a city bus. The quality of the experience is determined by the amount of preparation one puts into the process before arriving at the dealership to take delivery.

The purchase of a personal vehicle can have two major aspects to it. The first is the emotional thrill of not just buying something new, but the statement it makes about our self-image. Good salespeople will discover any emotionally based buying motive and play to it trying to achieve an impulse sale.

The other major aspect is the rational business like approach necessary to thoughtfully acquire a major depreciating asset. Things like life cycle cost or total cost of ownership must be considered. The initial price is just one aspect of the total cost of ownership. The true cost of ownership includes maintenance, fuel, repairs, insurance and resale value.

If you approach the process in a methodical manner, you can be assured of satisfying most if not all of your wants and needs in the purchase of a new vehicle. Here are some tips from an industry insider who sold vehicles and managed dealerships for over thirty years.

1. First, ask yourself some questions relative to your driving habits and preferences. Things to consider include who will drive the vehicle and how will they drive it. Is it primarily a commuter vehicle or will it be used for long trips. How many people will you need to carry? How much cargo capacity will you require? Are there either any climate or weather conditions to consider now or coming in the future? How long do you plan to keep the vehicle? Is alternative fuel important to you and easily available if it is? What options and accessories are must haves, would like to haves and can live with outs? Once this process is finished you should have a good understanding of your wants and needs.

2. If you have a particular vehicle picked out at this point that, you feel is right for you; it is time to do some basic research on pricing, financing, life cycle cost and possibly the value of any trade you might have. The internet is a great source for all of this information. My favorite site is IntelliChoice's vehicle comparison tool. It allows you to compare the cost of ownership of three vehicles at a time and considers all of the cost of ownership

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