3 Important Questions to Ask When Purchasing a Vehicle

Purchasing a vehicle, regardless if its pre-owned or new, is a major financial decision and commitment.  We've compiled three worthy questions to both ask yourself and the seller of the vehicle before making your choice.

Questions to Ask Yourself

1. Are you in good financial order?  (Do you have enough good credit to have options in terms of either purchase financing, leasing or getting approved for a car loan from a bank)
2. What is the main reason for the vehicle? (Why are you thinking about purchasing a vehicle - will help in question 3)
3. What type of vehicle? (New or used and does it fit your current and near-term lifestyle requirements)

Questions to Ask Seller

1. (If its new) What type of warranty? (some manufactures are moving toward unlimited mileage under the term of warranty)
2. What is the best price? (If used - check sites such as autotrader.ca and you should be able to get a high/low market range price of vehicle in question.  If new - shop around to local dealerships as not only price but service will help in the decision-making process)
3. Pre-purchase inspection? (if used - take it for a test drive and have a local mechanic perform a "once-over" to ensure it operates properly.  If new - take for a test drive and inspect the specific vehicle from the lot your purchasing, as freight damage can occur when transporting the vehicle from manufacturer to dealership)