Which Features Should I Look For In A New Car?

Q:  I’m in the market for a new set of wheels, and the choices are making me dizzy. How family getting car keysdo I decide which features to look for in a new car and which to skip?

A:  Shopping for a new car can be complicated-but it doesn’t have to be that way. With a bit of research and some time spent determining what’s important to you, you can make a choice you’ll be happy with for years to come. To help you out, we’ve created a list of key features you might want to consider in your new car, as well as a list of features you can skip.  When you know what features you want, you can easily shop all of the available inventory in the area on one simple car buying site at Destinations Credit Union.

Must-have safety features

  • 360-degree camera: This camera takes the risk factor out of backing up by giving drivers a bird’s-eye view of the car. This way, drivers can see the entire area surrounding their vehicle and check for children and objects in their way.
  • Evasive steering: Keep yourself safe even in the event of surprises on the road with this handy new feature. Evasive steering will provide you with additional steering support when you’re in danger of colliding with another vehicle and your own steering efforts are not sufficient.
  • Blind spot alert: This feature alerts the driver when there is an object or pedestrian in direct line of their blind spot.
  • Forward collision warning: If you’re prone to distraction while behind the wheel, you might want this feature. It provides a visual and/or audible alert when your vehicle is heading toward a forward collision.
  • Automatic emergency braking: Stay safe with this feature, which automatically applies the brakes when it senses a vehicle in your car’s way. Some systems include pedestrian detection as well.

Convenient features

  • Automatic keyless entry: This feature was created for those moments when you’re staggering toward your car with armfuls of grocery bags: it automatically unlocks a car’s doors when it senses a nearby fob.
  • Head-up display: You don’t have to risk swerving every time you want to check out your car’s display. With a head-up display, you can see important information, like your fuel level and speed, right on your windshield. Displays are dim enough so they don’t block your visibility, but clear enough to easily read.
  • Power tailgate: If you plan on hitching a boat, ATV, or another large vehicle to the back of your new pickup truck or SUV, you might want to shop for this feature, because it lets you lower and raise your tailgate with the push of a button.
  • Multi-zone climate system: Family road trips are peaceful again with this feature, which allows for different climate controls throughout the car.
  • Speedy USB-charging outlets: No more unbearable waits for your gadgets to power up! You can now buy a car that charges your device super-quickly.
  • WiFi hotspot: Stop eating up your phone’s data-just plug into your car’s WiFi instead. Some in-car hotspot services charge a monthly fee after a complementary introductory period, but these tend to be cheaper for unlimited data than a similar data plan through a mobile phone carrier.
  • Heated steering wheel and driver’s seat: This one is for those frosty mornings when your car can’t get warm quite fast enough.
  • Wireless charging pad: Leave the wires at home! Just place your phone on one of these pads and it will start powering up. These super-techy gadgets use induction to charge your device and work with most new smartphones. If your phone is aging and won’t charge on an induction pad, you can buy a special case to bring it up to speed.

Fun-to-have features

  • Home assist device connectivity: Telling your phone to crank up your AC or to shut off your oven is old news. But, did you know you can now do the same for your car’s controls? Some new cars allow you to use remote voice control with home assist technologies, like Alexa, for your car. You can tell the assistant to set the temperature in your car, unlock doors and even get your favorite playlist going while your hands are busy making lunch.
  • Rear entertainment systems: No more backseat fighting! This feature gives the rear seat of your car a completely separate entertainment system.
  • Sound enhancement: If you’re an incurable gearhead who needs to actually hear your car revving up, you’ll love this feature. It simulates the performance experience of your vehicle, even in a car that is built to be quiet, so you can listen to your engine roar itself to life.
  • Android Auto and Apple CarPlay: Leave your phone in the cup holder and avoid dangerous distraction with these features. Both will sync your smartphone’s interface with your car’s infotainment system so you can use the car’s screen for controlling your phone and keep your eyes on the road.

Features you can skip

  • Bigger wheels and thinner tires: The look might appeal, but the ride will be less comfortable. Plus, your wheels will be more prone to damage from potholes and other obstructions on the road.
  • Built-in navigation systems: Please don’t pay extra for a navigation system when you know you’re going to use Waze or Google Maps most of the time anyway. Also, most built-in navigation systems require constant and tedious updates.
  • Lane keeping assist: This feature automatically steers or brakes your car when your vehicle crosses lane markings without turning on a blinker. It sounds tempting, but in real life, it’s more annoyance than convenience. Often, you’ll need to suddenly cross a lane marker for good reason, like moving over for an emergency vehicle or for a cyclist on the shoulder of the road. Plus, according to Consumer Reports, there is no data that proves this feature has any safety benefits for the driver.

Before you start shopping, call, click, or stop by credit union to hear all about our auto loans. We have fantastic rates to get you behind your new set of wheels!

Your Turn: Did you buy a new car recently? Tell us about the features you chose and why they made it to your list.

SOURCES:
https://www.consumerreports.org/automotive-technology/must-have-features-to-get-in-next-new-car/

https://www.hotcars.com/must-have-car-features-for-2019/
https://cars.usnews.com/cars-trucks/cars-with-the-most-high-tech-features-for-the-money

New Cars Vs. Used Cars

Q: I need a new set of wheels and I’m wondering if it’s better to spring for a new vehicle

Two women looking at car

or to go the cheaper route and buy a used vehicle. What do I need to know about each kind of purchase?

A: Any decision surrounding a purchase as large as a car needs to be made with careful research and consideration. There are pros and cons on both sides of the fence here. Your final decision, though, will depend on your budget, personal preferences and particular needs.

To make your job a little easier, we’ve outlined the pros and cons of each purchase type below.

Pros of new cars

  • Status symbol. The strongest allure of owning a new vehicle is obviously its attractiveness. You don’t hear many people bragging about their just-purchased used car or posting pictures of it all over their social media pages.
  • Fewer repairs. With a new vehicle, you can assume you won’t be dealing with major repairs or maintenance issues for a while.
  • Easier shopping. When everything is completely new, there’s no need to drag your prospective new car to the mechanic. It’s also easier to determine a fair price for the car.
  • More financing options. If you’re considering a new car, you’ll be offered attractive incentives like cash rebates from the carmaker and better interest rates from the lender.
  • Improved technology. Cars are getting more updates, and recent models have incredibly convenient technology, such as programmable settings, autonomous emergency braking, adaptive cruise control, blind spot monitoring, built-in Wi-Fi hotspots or lane-departure warnings.
  • Automaker’s guarantee. All new cars come with warranty coverage for their first three years or 36,000 miles, whichever comes first.

Cons of new cars

  • Price. Of course, a new car is going to be more expensive. But it’s not just the price that puts you at a disadvantage – it’s the fact that you can get a perfectly comparable vehicle for much less.
  • Depreciation. New cars go down in value as soon as they leave the lot. In fact, a new car can lose 20% of its value once it’s owned. At the end of the first year of ownership, your new car can drop another 10% thanks to the mileage you’ve clocked and the wear and tear. You’ll feel this loss if you try to sell your car a few years down the line.
  • Higher premiums. Insurance companies charge more for newer vehicles. You’re also more likely to want the maximum coverage and protection when every dent in your new car is enough to bring you to tears.

Pros of used cars

  • Price tag. Let’s be honest here: No one would think of buying a used car if it weren’t for the savings. And those savings can be enormous! Consider this: according to the National Automobile Dealers Association (NADA), the average American own 13 cars in their lifetime. A typical new car costs $30,000. If each car that a person owns throughout their life is just 3 years old and costs $20,000, the driver can save $130,000 on car costs throughout their life!
  • Less depreciation. The savings on a used car don’t end at the dealer’s lot. With the previous owner absorbing the initial depreciation on the car during its first few years of ownership, your vehicle will only experience a minimal drop in price. You can save yourself thousands of dollars in loss if you want to sell your car a few years down the line.
  • Lower insurance premiums. With your car weighing in at a lower value, your monthly insurance premiums will be more manageable. You can also opt out of full protection when your car isn’t a new model anyway.
  • Lower interest. If you choose to finance a used car instead of a new one, you’ll likely have a higher interest rate. However, since the loan amount is lower, you’ll save in total interest payments over the life of the loan.
  • Predictability. When purchasing a just-released car, you never know what issues might crop up in the future. But, when you’re buying a model that’s been around for a few years, you’ll have a wealth of research and ratings available on your car so you’ll know what to expect.

Cons of used cars

  • Complicated purchase. You won’t be able to walk into a lot and walk out with your new car an hour later. With a used vehicle, you’ll want to get a vehicle history report, ask to see the vehicle’s service records and bring it to a mechanic for a professional inspection.
  • Fewer choices. When buying pre-owned, you don’t get to be picky about things like colors, upgrades and features. If you find something in your price range that meets most of your specifications, you grab it!
  • Risk. Even if you do your homework well, you still run the risk of walking out with a lemon when you buy a used car.

It’s a multi-faceted decision, but by carefully weighing your options and personal preferences, you’ll drive off of the dealer’s lot with a real winner!

Whether you choose to go new or previously-owned, don’t forget to call, click, or stop by Destinations Credit Union to hear all about our auto loans. Not only do we offer one of the best car loan rates in the Baltimore area, between now and November 21, 2018 you can win prizes worth up to $200 in our CARnival of Savings event!

Your Turn: Did you buy your car new or pre-owned? Are you happy with your decision? Tell us all about it in the comments below.

SOURCES:
https://www.nerdwallet.com/blog/loans/compare-costs-buying-new-car-vs-used/

https://www.autotrader.com/car-shopping/4-questions-help-you-decide-new-or-used-car-167808
https://cars.usnews.com/cars-trucks/new-cars-vs-used-cars
https://www.iwillteachyoutoberich.com/blog/cost-vs-value-should-you-buy-a-new-or-used-car/