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Your little coupe or well-traveled truck might have been perfect for your single life. But after you say “I do,” you and your partner might be ready for a car that fits both your needs—and your future family’s, too.
Choosing a car can be a totally intimidating process. Armed with some research, you and your partner can confidently find a car that fits your needs and your budget.
Do some research
Explore online together to decide what kind of car you’re looking for. Are you looking for a new car, or is a used car okay? What make and model will be most reliable? Talk to your friends and family about what cars they’d recommend. You and your partner might be looking for additional financing to purchase your new ride. Shop around and compare options online the first funding option you find might not always be the best one.
Make a budget plan
Discuss with your partner an amount that you feel comfortable spending each month. In addition to car payments, factor in fuel, insurance, and maintenance. Then see how much your total monthly cost of ownership would be for the car of your dreams. Online platforms like Fiona can give you personalized loan options for your credit score and income to help you plan out your monthly budget.
Layout your financial priorities
Make a list of the essential features and what you’re willing to live without. Are heated seats a priority or a nice bonus? While it’s smart to save, you really want to end up with a car you’re happy with, so you’re not repeating this whole process in a year or two. Most auto loans are for five or six years, but some banks offer loans that take longer to pay off. Get together as a couple to decide what your priorities are: are you looking for smaller monthly payments, or would you rather pay it off quickly?
Combine auto insurance
As a couple, you might be able to save with one insurance policy—you’ll get a discount for insuring multiple vehicles at once. Bundling home and auto coverage might get you additional discounts, depending on the insurance company. Combined policies are also just more convenient, with less paperwork and one online portal to manage.
A head’s up: if your partner has a less-than-stellar driving record, it’ll affect your insurance rate too. Most insurance policies want everyone in the household listed on the policy.
Your partner might want a lot of horsepower, while you want a lot of space for the kids. Talk about both your day-to-day needs and the long run. Does a Mini Cooper, no matter how cute, really fit your lifestyle? Take a test drive and be willing to compromise to find a car that fits both your needs and your budget.
With customized loan options, the Fiona platform can help you drive off into the sunset in your dream car. Fiona makes it easy to compare auto loans and find the best offers. Explore special offers for Zola customers today.