How Bostonians Should Save for a New Car
Owning a car in Boston was harder than usual this year. It may be time to save up for a new set of wheels.
Heavy snowfall and treacherous road conditions caused plenty of traffic gridlock this winter and forced some motorists to endure commutes seven times longer than average. Beyond testing Bostonians’ patience, this winter also took a heavy toll on their cars.
According to personal finance site GOBankingRates, Boston-area motorists endured a “perfect storm of elements’’ that made owning a car in the city more difficult than usual.
“Bostonians [had] to balance a unique combination of circumstances that [caused] wear and tear on their cars, including long commutes, heavy traffic, and famously inclement weather,’’ said GOBankingRates local editor Stephanie Barbaran. “This is what we would call ‘the Boston Factor.’’’
If this brutal winter took a toll on your car, or if a season of painfully long commutes has you unimpressed with your car’s gas mileage, it might be time to start searching for a new one. According to Barbaran, Bostonians have a lot of advantages if they are in the market for a new car.
“Keeping it simple with local banks and institutions, Bostonians can find 36 month auto-loan rates as low as 2.50% APR,’’ said Barbaran. “Perusing other local resources to land the best deal, such Boston Car Buyers or Boston Foreign Motor, can also mitigate some of the problems that car-seeking, city-dwelling Bostonians face.’’
Here are GOBankingRates’s tips for Bostonians shopping for a new car:
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In addition to these tips, GOBankingRates recommends picking a car with strong gas mileage that can handle Boston’s heavy commutes for a few years. According to NerdWallet, Boston drivers commute an average of 26.56 minutes to and from work. If your new car can’t effectively handle the daily grind of a Boston commute, you could end up shopping for another new vehicle much earlier than expected.
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