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New technology, auto financing important for buyers

Posted on Monday, April 14, 2014 at 10:27:07 AM

Technology has become a common trend in today's vehicles, with more manufacturers turning to devices and gadgets to attract buyers. However, the Insurance Institute for Highway Safety reported that one piece of technology - the rear camera - has been instrumental in preventing serious accidents. In some cases, these upgrades can be exactly what you need to be safe while driving, but in others, it may just be one more distraction that'll take your eyes off the road.

Finding the perfect car for you can be complicated, but thanks to affordable auto financing and a wealth of options, your dream ride is out there. In order to help you find it, Christine Dikdan, of Home Loan Investment Bank, offered some crucial tips, tricks and insights into shopping with new technology in mind. She explained that the technology in your car comes down to personal preference. A loaded car costs more, so you have to decide what those features are worth to you.

"The basics - such as air bags and seatbelt restraints - are in the 'vital' part category and have saved many lives," noted Dikdan. "The full screen GPS, although convenient, is definitely a distraction that can take your eyes from the road causing accidents - think texting while driving. Cameras, on the larger SUV type vehicles for backing up, although a relatively new safety feature, I agree with."

Overall, vehicle technology is changing at a rapid pace. Today's cars come equipped with parallel parking assist systems. While these features can make for attractive choices, you should make sure your new ride is exactly what you need before applying for auto financing.

"The primary purpose of any vehicle is to get from point A to point B in a reliable and safe manner," added Dikdan. "This country has been going without vehicle entertainment options and GPS for a long time. As with anything, pros and cons exist."

She continued to note the importance of technology in regard to resale value. Primarily, how safety features are a must for either a new car or a used one, but other, more entertainment-based options aren't as vital. So, when you are in the market for a new vehicle, consider the growing trends in automotive technology.