Smart Car Shopping: Tips to Find the Right Ride for You

LOS ANGELES, April 28, 2025 ~ As the average length of car ownership has increased to almost 13 years, purchasing a new or used vehicle has become a rare and significant "life experience." With so many factors to consider, it can be overwhelming for consumers to navigate the car-buying process. To assist in this journey, Mercury Insurance is offering guidance on how to choose a vehicle that best fits one's needs and budget.

Justin Yoshizawa, Director of Product Management at Mercury Insurance, emphasizes the importance of considering the "total cost of ownership" when purchasing a vehicle. This includes not only the purchase price but also ongoing expenses such as insurance, repairs, and fuel consumption. He advises against buying more car than necessary, as it can be wasteful and costly.

To help consumers make informed decisions, here are some key considerations when shopping for a new or used car:

1. Define Your Needs and Budget:

The first step is to determine what type of car you need based on factors such as size, fuel efficiency, cargo space, and intended use. It's also essential to set a realistic budget that takes into account not only the cost of the car but also ongoing expenses like insurance and maintenance.

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Researching different models and trims can also be helpful in comparing features like fuel economy, safety ratings, and reliability. Online resources such as YouTube channels run by automotive journalists can provide in-depth reviews of various vehicles.

2. Inspect the Vehicle (Used Cars):

For those considering a used car, it's crucial to thoroughly inspect both the exterior and interior for any signs of damage or wear and tear. It's also essential to check under the hood for leaks or rust and examine tires and brakes for any issues.

Taking the vehicle for a test drive is highly recommended as it allows one to assess how it handles on the road. If there are specific items that will frequently be transported in the car, such as car seats or sporting equipment, bring them along to ensure they fit.

Consider getting a professional inspection done by a mechanic to identify any potential problems that may not be visible to the untrained eye.

3. Research the Vehicle's History (Used Cars):

Obtaining a vehicle history report from sites like Carfax can provide valuable information about the car's past, including any accidents, damage, or maintenance records. It's also helpful to inquire about the car's previous owners as it can give insight into how well it was cared for.

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4. Negotiate the Price:

Before starting negotiations, it's recommended to get preapproved for a car loan to have a better understanding of what one can afford. Researching the market value of the car using resources like Kelley Blue Book or Edmunds can also help in negotiating a fair price.

It's essential to be realistic about what one can afford and not be afraid to walk away if necessary. Exploring different financing options is also advisable.

5. The 20/4/10 Rule:

Mercury Insurance suggests following the 20/4/10 rule when purchasing a new or used car. This means making a 20% down payment, choosing a repayment term of four years or less on the auto loan, and spending less than 10% of one's total monthly income on transportation costs.

Yoshizawa emphasizes that doing thorough research during the buying process can prevent buyers from ending up with a vehicle they regret.

For more tips on buying a new or used car, visit Mercury Insurance's blog. With careful consideration and guidance from experts, consumers can make informed decisions when it comes to purchasing their next vehicle.

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