Wondering if you should buy a sedan or an SUV? Sedans may just be the best option right now because it’s cost-effective, and with all economic indicators pointing to tough times ahead, cost and affordability will likely be major concerns in the coming years. Here are a few other reasons why you should buy a sedan.
The Financial Factor
Given the auto industry’s finance deals, such as some automakers pushing loans of up to 84 months with 0% interest, the monthly payment differences between an SUV and a sedan aren’t that significant.
Although the payments seem reasonable, consider how long you’ll make payments for that vehicle: 84 months equals seven years, which means you’ll be paying off that new SUV till 2028, long after the warranty has expired and repair costs have risen.
Gas Mileage
While there has been an increase in the gas mileage offered by SUVs, they still do not achieve the same levels of efficiency as sedans. The ones that get better gas mileage than their sedan counterparts are either hybrids or plug-in hybrids, which are often very pricey.
However, with gasoline at record low prices, discussing gas mileage may seem irrelevant, but low prices aren’t going to last much longer, and as supply intensifies, costs are expected to resume their upward trend.
Here Are a Few Tips to Help You Pick the Right Type of Car:
- Make a thorough assessment of what you need in a car. Are you looking for an SUV because you need all that space, or would you rather go for something smaller, trendy, and less pricey?
- If you really want to save money, buy used instead of new. When compared to an SUV, a 2-year-old off-lease pre-owned sedan is an even better deal, as the initial depreciation that occurs when driving off a dealer lot with a new vehicle has already happened.
- Look for sedans that have been in production for a while but are about to be phased out. With its modern multimedia system, turbocharged engines, and the availability of all-wheel-drive and hybrid models, the Fusion is an outstanding option. The Malibu is also a good alternative, offering many of the same features as the Fusion but without the option of AWD.
- Consider the long-term, no-interest loans carefully. You can choose the shortest term you can afford (as long as the interest rate isn’t too high). Don’t be fooled by seemingly low payments; instead, consider the total cost of the car and avoid rolling over new debt into even more debt in the future.
