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With the overwhelming number of vehicles to pick from, taking the plunge into researching and test-driving specific models can be a mesmerizing experience. So before you catch your first whiff of that new car smell, take a few minutes to write down a list of priorities to guide your search. I’ll share with you the criteria I have successfully used to find a vehicle that’s right for me.

Establish a Budget – and Stick To It

I know that financial folks and auto enthusiasts everywhere will say find the car that’s right for you and then find the money to pay for it later. But realistically, in this age of fixed incomes and growing expenses, I say you should set a budget you know you can live with before anything else. Once that’s done, stick to it. Don’t torment yourself (and waste your time) by looking longingly at what you cannot afford.

When setting your budget, though, you need to consider all the factors involved and be a little flexible with where you put your money. For example, setting a budget does not mean deciding ‘I can afford a Ford Focus and nothing more.’ Rather it means, ‘I know that with my income I can only spend so many dollars per month, all-told’. So sit down and calculate. Once you know that figure, good research will help you see how you might partition those funds to obtain the greatest value for your money later on.

When purchasing or leasing a new or certified pre-owned vehicle, remember that taxes, interest and insurance will have to be factored in as part of your monthly expenses. Granted, you do not know all these costs upfront. But as you start to browse for your next vehicle, keep in mind that only a portion of your budgeted funds will be going towards paying the vehicle’s purchase price. If after some preliminary research you realize that you cannot afford a new(er) vehicle right now, then you can readjust your search criteria before you get overly invested in a specific model.

Consider Your Lifestyle

Ask yourself:

• What is my primary reason for obtaining a vehicle?
• Am I doing a long daily commute or am I running about town?
• What are the driver’s needs when using the vehicle and what features will meet these in the best way possible?
• How many people do I need to transport on a regular basis?
• Do my passengers have special needs? For example, will I have babies or young children, elderly or disabled persons travelling with me? What might their needs be for seating, safely travelling in and entering and exiting the vehicle?
• What about my pets? Where will they and their gear travel, and how much space will this require?
• What sort and what size of a cargo area do I need? Must I allow space to address specific needs, such as a baby stroller, commercial or work-related equipment, a wheelchair, or renovation or hobby projects?
• How important is towing, all wheel drive or off-road capabilities?
• What role will fuel consumption or economy play in my decision?
• Where will I park it? If the vehicle is large, will it fit within that space?

Considering these questions may immediately narrow your choice of vehicle type (or class).

Set Your Priorities

In all decisions, some sacrifices and compromises must be expected. You need to decide how far you will go to get what you really want. So, having considered your lifestyle, ask yourself:

• Which vehicle characteristics are absolutely integral to the satisfaction of my key purpose?
• Where am I willing to be flexible or what might I be willing to totally give up if necessary?

Do Research

Now you are ready to start looking purposefully, with needs in hand and wants in check. Remember that nothing is a substitute for good research. To get you started, I’ve already assembled a list of links to the Web sites for each vehicle brand for sale in Canada. Researching online is (I think) the best way to get a no-obligation feel for what’s realistically out there and roughly how much it costs. Doing so will help you to narrow down your search before talking to a salesperson.

Of course, many more decisions will need to be made before you settle on a specific vehicle. But by establishing a budget, evaluating your needs, setting your priorities and doing research, you can save yourself the hassle of aimlessly test-driving vehicles, or worse, purchasing a vehicle which doesn’t suit your circumstances.

What would you add to this article? What process or criteria have you found effective when searching for a vehicle? What further questions do you have on this subject?

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