10 Things To Consider When Buying A Family Car

Everything seems to be going up in price these days—from fuel to car prices, purchasing a new family vehicle in 2022 may not seem wise. However, you cannot put off buying your next family car forever.

While car buying in 2022 has its challenges, you can still snag yourself an affordable, long-lasting family car that will serve you well. Here are our tips for buying family cars in 2022—from financing your vehicle to safety considerations, we'll help you every step.

How Has Family Car Buying Changed in 2022?

The last few years have seen a mass shift in almost every industry. The car construction industry is no different. With supply shortages, delays, and developing technology, you should watch out for these changes in car buying.

Electric Options

The rise of EVs flooding the car market has changed the landscape irrevocably. Long gone are the days when you had two electric cars to choose from, and neither had much range. Today, you can choose from a wide range of EVs, each comparable to their internal combustion counterparts. The Hyundai Ioniq 5 and the Kia EV6 (to name a few) offer great family-friendly options.

Moreover, EVs are highly affordable. While you might pay a little more upfront, they are far cheaper in the long term. With lower fuel and maintenance costs, electric vehicles are perfect long-term investments. If you're entering the car market in 2022, don't discount an EV for your next family car.

Finally, check whether you're eligible for government grants when purchasing an electric car.

Higher Prices

The last few years have brought many challenges. Supply chain issues and delays mean the car industry has not yet bounced back to pre-2020 levels. Therefore, with a lower inventory, prices are higher.

However, selling or trading in an old car will be worth a lot more money than you might think. This should help alleviate some of the financial burdens.

Alternatively, you might consider taking out a car loan to cover the cost of your new purchase. While your dream family car might cost slightly more than you expect in 2022, it doesn't have to break the bank. Speak to a car finance broker about your options.

Fewer Models

Another casualty of recent supply chain issues is the lack of availability. Unfortunately, you might find that the specific model or trim you want is unavailable—or at least not as soon as you would like. You may need to prioritise what you want most in your new family car and ensure you're willing to wait for or sacrifice less essential details.

10 Considerations When Buying Your Next Family Car

So, what should you consider when buying your new family vehicle?

1.    How Big is Too Big?

When people think of family cars, they often think of giant SUVs pulling up in the schoolyard. However, the size of your family car depends entirely on your family. If you have five kids and a lot of gear, you will want to look at seven-seater SUVs. However, if you only have two children, there might be more suitable compact options available.

Think about how much space you need for everyone in the family and all your regular belongings. Smaller cars are often more fuel-efficient and practical.

2.    Safety First

Safety should be your top priority. Therefore, you must research crash safety ratings and safety features. You need to ensure that your vehicle will protect you as best as possible in the event of the unthinkable.

However, you should also look out for cars equipped to prevent a crash. Electronic driving aids, such as lane departure warnings, blind-spot assistance, auto emergency brakes, and more, will help ensure your and your passengers' safety.

3.    Where Do You Live?

Your local climate is another vital consideration. Are you in a snow belt with harsh winters? Do you have continuous extreme rain? Do you live in the desert with unbearable heat and dust? Your local environment should affect your new car choice.

For instance, if you have a lot of rain and snow, you would prefer an all-wheel or four-wheel drive vehicle. In addition, if you have many dirt and gravel roads nearby, you might want to consider suitable tires.

4.    Built to Last

You need a car made to last. This means two things. Firstly, it survives without any significant maintenance. Secondly, it serves your family well for the entirety of its lifespan. Therefore, you need to think about your future family plans.

For instance, you may consider a seven-seater if you have a large family. However, remember that the third row isn't that spacious. A seven-seater may not do the job if your kids soon turn into teenagers or adults. Similarly, if you have a toddler, you may have less luggage now, but you may need the boot space for their sports and school equipment as they grow up.

5.    Used or New Vehicle?

If the family car market looks out of your price range, consider purchasing a used car. Often, used vehicles last just as long and serve you just as well, but for a fraction of the cost. Moreover, you can apply for financing to help you purchase your used vehicle.

Remember to scrutinise the vehicle before purchasing if you choose this route. Ask the seller questions about the car and ask to take it for a test drive. You may also want to negotiate a warranty.

6.    Fuel-Efficiency

Now, more than ever, fuel cost should be one of your primary considerations. If you're wondering how much each car will cost you in fuel each year, type the model into Google to find out. The more fuel-efficient your vehicle, the longer it will last and the cheaper it is to run.

And, remember, switching to an electric vehicle is a cost-effective option for saving money on gas.

7.    How Will You Use Your Car?

Your plans for using the car will affect which is the right vehicle for you. If you like to tow a boat or trailer, you must consider towing capacity. Or, if you frequently offer lifts to your kids' friends, you might want to think about a bigger car.

Remember, a family car isn't just for the daily school run. You must also consider less frequent journeys, like sports tournaments or family road trips.

8.    Insurance

Insurance costs vary depending on the car, your history, and your local area. While insurance costs shouldn't dictate which vehicle you purchase, you may want to bring it under consideration. Check with your insurance company how much each of your family car options would cost to insure—if one is significantly more expensive than the others, you may want to leave it off the list.

9.    How Big is Your Budget?

It is vital to your family's financial health that you only pay what you can comfortably afford. While the new, top-of-the-range car may seem like an attractive deal, if it's not within your budget, don't let the dealer pressure you to make a decision. It's your job to understand how much you can spend without purchasing something beyond your means.

Additionally, adopt the same approach when looking at car loans. Ensure you don't borrow more than you can comfortably afford to pay back. A car finance broker will help you find suitable car loan products and avoid car loan mistakes.

10.    Financing Your Dream Car

So, you've chosen your perfect family car, spoken with your insurance provider, and are ready to sign on the dotted line. You need to consider how you will pay for the vehicle.

If you trade in an old car, you may be able to use the proceeds towards your new vehicle. Your dealer may offer attractive sounding auto loan options. However, your best financing choice is to go to a car loan broker. We'll help you choose the best loan for your situation. We'll help you every step of the way, from applying for loan pre-approval to receiving the funds.

Taking Your Kids for a Test Drive

Finally, you're ready to take your new family car home. However, before the last step, you must take your family for a test drive. Pile all your kids in with their usual belongings, and drive around your local neighborhood. Is everyone comfortable? Does everything fit? Is the car smooth and enjoyable to drive?

While a vehicle might look good on paper, it may not suit you perfectly. Each family is different, and therefore, your needs are different. You won't know the ideal family car for you until you take it for a test drive.

Buying a Family Car

Purchasing your next family car is a significant commitment. While it may not seem as costly or long-lasting as buying a house, it's not a light decision. The family car market in 2022 might seem under-stocked and expensive, but remember to consider electric options and car loan financing.

Car buying may seem stressful. However, once you sit back in your new driver's seat and take in that new car smell, you will appreciate the time taken to find the perfect family car.