In an ever-changing world where technology has blurred the lines of our personal and professional lives, the notion of “work-life balance” has become a buzzword within our society today. Juggling the pressure between two worlds can be quite a challenge in the absence of a personal mode of transportation. After all, owning a car is widely recognised as the most comfortable, convenient and practical commute of choice without depending on fixed schedules of public-transit systems.
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However, a car is a depreciating asset that loses value over time. Yet, this is the same financial investment drivers make several times throughout their adult years. So, is owning a car still worth it? We discuss the variables influencing a car buyer’s decision and why you should only commit to one wisely.
Positive Reviews And Ratings Accelerates Car Sales
As consumers, 59% of car buyers do their research online to seek as much information on the particular model that they are intending to purchase before taking the plunge. Reviews can either convince car buyers that a dealership offers the right cars and level of service, or redirect them to take their business to another dealership with better reviews.
Prior Experience With A Brand Or Particular Model
A true measure of an automotive manufacturer’s success is its ability to build brand loyalty and retain its customer base. When a brand connects emotionally with its audience, car buyers are more likely to make a recurring purchase. For example, Toyota has dominated the mainstream and luxury segments in terms of customer loyalty with its strong reputation for reliability. Hence, car buyers tend to have a preference towards brands and particular models that they are familiar with.
Low Fuel Consumption Equates To Lower Transport Costs
According to Consumer Union, recent studies have shown that car buyers value fuel efficiency to be one of the car’s most important features. Fuel-efficient cars not only reduce pollution, but it also covers more miles with lesser petrol, so car buyers can enjoy a significant amount of savings on transport costs.
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The Average Cost of Maintaining And Servicing A Car
When purchasing a car, car buyers must be aware of the ownership costs associated with this decision. Our advice? Refer to your car’s manual and follow the maintenance schedule as closely as possible to keep service costs down. Keep an accurate log of the maintenance you perform too, as it helps increase its resale value.
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Whether Cars Are A Reliable Mode Of Transport
In comparison to public-transit services, cars are equipped with numerous safety features dedicated to preventing crashes and mitigating the damage they cause. To ensure that drivers are well protected on the road at all times, automotive manufacturers also conduct regular crash tests to assess the quality and performance of their cars. For safety-conscious car buyers, IIHS keeps a record of its crash-test safety ratings so you can learn more about the make and model of the car you are intending to purchase.
Factoring all these considerations will definitely ease your car-buying process and bring you even closer to making a rational, well-informed decision!