Buying your first car is very exciting, but there are some things you should know. This guide lists essential tips for buying your first car.
Is there anything more exciting than buying your first car?
Well, we can make a case for marrying the love of your life or getting your first job, but it’s hard to find anything else that beats driving home from the dealership after you’ve bought your first ride.
However, buying that car isn’t really as simple as walking into a dealership, making the payment, and driving out. If you hurry through the process, you might end up with a car that will be a pain for you.
To help you make the right decisions and ensure you’re buying a car that suits your needs, we’re sharing a couple of key tips to keep in mind.
Read on!
1. What Kind of Car Do You Need?
It’s not cliché to say cars come in all shapes and sizes. It’s literally the truth.
Walking into any dealership and you’ll find a car for every need you can think of.
Want a small car for commuting to work? You’ll get it. Need a serious off-roader that will take you were roads don’t exist? There are several makes and models to choose from. Do you need a luxury car that does 0-60mph in 3 seconds? There’s something for you!
In short, before you go buying your first ride, it’s super important to know your needs. Start by evaluating your lifestyle.
What will you be using the car for? What’s the size of your family? What’s the size of your garage or parking space?
When you have answers to such questions, it’s easier to zero in on the kind of car that will best serve your needs.
2. What’s Your Budget?
In 2019, the price of a new car was $36,700, up from about $35,000 in 2018.
How much can you afford to pay for your first car?
If you’re thinking of buying a new car, it’s going to cost you a pretty penny. If you can afford to pay for it in cash, well and good!
What if you’re not in a position to pay in cash but still want a new car? As long as you have a solid income and good credit, you can go in for a bank loan. However, taking a loan is a big financial commitment, so be sure you’re making the right decision.
That being said, as a first-time car buyer, it’s cheaper and more preferable to buy a used car. The average cost of a used car is $20,000 and a used car dealer can finance you or even allow you to buy on credit.
Either way, ensure you know your budget before buying your first car.
3. Don’t Go Buying the Car Alone
You’re buying your first car, so it’s fair to assume you don’t have any car buying experience. It’s for this reason you shouldn’t walk into a dealership alone. You need an experienced car buyer on your side.
On your own, you’ll be vulnerable. You might settle on a car that wasn’t even on your list or fail to negotiate a good deal. But with an experienced buyer with you, you stand a good chance of getting the best deal on the car you wanted.
Buying Your First Car Shouldn’t Be Hard
Buying your first car is an exciting time. However, it’s easy to get lost in the excitement and make a bad purchase. With this guide, though, you can step into a dealership feeling confident about the process.
Keep reading our blog for more motoring tips and insights.
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