Smart Car Shopping: Tips to Find the Right Ride for You

Group 1 - The average length of car ownership has increased to almost 13 years, making the search for a new vehicle a significant life experience [1] - Mercury Insurance provides guidance for consumers to choose a vehicle that fits their needs and budget [1][3] - The total cost of ownership should be considered, including insurance, repair costs, and fuel consumption, rather than just the purchase price [3] Group 2 - Consumers should define their needs and set a realistic budget, considering ongoing costs like insurance and maintenance [7] - Researching different models and trims is essential, including comparing features such as fuel economy and safety ratings [7] - Inspecting the vehicle for damage and conducting a test drive are critical steps in the buying process, especially for used cars [5][7] Group 3 - The 20/4/10 rule is recommended: a 20% down payment, a four-year repayment term, and spending less than 10% of total monthly income on transportation costs [11] - Doing thorough research can help reduce the likelihood of regretting a vehicle purchase [8]