Choosingthe Right Car
Choosingthe Right Car
Apersonal car is a necessity as opposed to a luxury. I have desired toown a car so that I can enjoy the convenience of traveling from onelocation to another without having to rely on the public transportsince my childhood. I had always envied people in their cars whowould speed past the laboring public means knowing that they wouldmake it to their destinations within a short time. However, just likebuying any other capital-intensive asset, I had to put some factorsinto consideration before settling on the most appropriate vehiclefor my daily activities. While the purchase of a car is viewed as amove towards transport convenience and comfort, it can beunfulfilling if one makes a wrong choice of the type of vehicle thatis not consistent with his/ her transport needs.
Beforemaking the final decision to own a car, I considered the option ofleasing. Sometimes, it can be economical to lease a vehicle insteadof procuring one. For example, when engaging in short-term activitiesthat require a private means of transport, leasing can be a viableoption. However, in my case, I needed the car for long-term use.Leasing would not be cost saving in the long-run. While doing myresearch, I discovered that leasing also has some benefits. First,one does not have to incur the massive capital requirement, as thecompany letting out the vehicle would have already catered for that.Also, one can drive expensive and deluxe cars at reduced costs(Munroe, 2008). While these are desirable in given circumstances,they did not suit my need.
Thereare several rationales for deciding to buy a vehicle instead ofleasing. First, I did not want to set limits on the distance I wouldcover as a way of avoiding mileage penalties. Some rental companiesimpose hefty fines for exceeded limits. I wanted total freedom ofmovement without additional financial implications. Besides, I haveseen people modifying the cars to make them more comfortable andresilient. Such alterations cannot be performed on a leased car.Since I did not rule out the possibility of modifying my car infuture, I considered hiring to be a liability. Also, I looked intothe possibility of upgrading my drive by selling or trading in withanother owner. With a private car, it would be possible to dispose itat any given time. The recovered money would make it cheaper in thelong-run. Therefore, I considered buying as the most rewardingoption concerning my needs.
Havingarrived at the resolution, I could not just walk into the shopwithout identifying the type of car that would fulfill my transportneeds. I considered to the condition of the roads, which I usuallyuse to determine if, the qualities that would make cruising easier.Most of the roads are well tarmacked, and I often use the highways.Therefore, a simple car would serve my purposes (Munroe, 2008). Moreover, I did not expect to have many passengers on board orcarrying a large cargo. An average car with a small trunk would servemy purposes. Also, the average car would fit into my proposedgarage. For cost effectiveness, I intended to put up a small garage. As a regular road user, a car with basic safety measures includingairbags, an efficient brake system, and safety belts. I would nothave to look for a particular vehicle since these are found in allthe roadworthy automobiles.
Mybudget was also an imperative consideration for determining the typeof car that I would procure without straining my financial position.The amount of money allocated to buying a car dictates whether onebuys a new or a slightly used vehicle. Second-hand cars are usuallycheap. I have assessed the option of procuring it by makinginstallments. The hire purchase method is efficient but expensive inthe long run. Also, one does not fully own the assets until the costis settled.
Themodern cars are efficient in both energy and cost. Also, one gets achance to select from many models available in the showrooms. Myregular movement between various destinations demanded a car thatwould not eat into my pockets in tens of gas and maintenance.Therefore, the preliminary search into the shops left me spoilt forchoice however, it was easy to settle on a simple car that met allthe considerations.
Inconclusion, choosing an asset is not always easy since one has tomake a number of considerations before acquiring it. An individualhas to consider the cost effectiveness in both the short and long runas well as stick to the available budget. The intended use if a caris a necessary factor since it will determine the size and othermodifications that are in line with the use. While procuring avehicle, it is also important to consider the cost of leasing andbuying. For short-term activities, leasing is always cheap.Nonetheless, for people who commute daily and over long distances foran extended period, owning one is considerably cheap.
Munroe,B. (2008). Carbuying revealed: How to buy a car and not get taken for a ride.Garden City, N.Y: Morgan James Publishing.