Whether you purchase an old clunker, or a brand new vehicle, your first car will always hold a special place in your heart. However, you must remember that it is always advisable for a first-time buyer to have patience in selecting a vehicle. Your first car should be practical, sturdy, and unique to you. Here are some things that you need to know before making a final decision.
Develop a Budget
Before you attempt to browse the car market, you will first need to establish a reasonable budget. Even if you have a full-time job, you must decide if you can afford the monthly expense of a brand new vehicle. Keep in mind that the expense of auto insurance for a new driver must also be factored into the total cost. A budget of $5000 is usually enough money to purchase a quality used vehicle. Keep in mind your monthly income and payments. Will you still be able to afford all your other important expenses? Leave enough room in a budget to be flexible with the type of car you choose.
Consider your Transportation Needs
If you are single driver with no kids, a small compact vehicle is a great option. However, drivers with children need to seek a more spacious vehicle. If you are concerned with family safety, it is best to check the car’s safety rating as well before making any final decisions. Gas mileage is also a major factor for people that must travel long distances on a daily basis. Although a fast sports car may seem tempting, do not forget that the cost of insurance will increase dramatically.
Research the Vehicle
The convenience of online reviews and ratings makes it easier than ever to research a vehicle. The last thing that you want to do is purchase a vehicle that has a less than desirable reliability rating. Online customer reviews will reveal the common problems that may plague the vehicle. It is also important to note that expensive nameplates such as BMW and Mercedes are generally a lot more expensive to maintain.
Go for an Extended Test Drive
An appropriate test drive needs to last for at least 30 minutes. This will give you enough time to check out every aspect of the vehicle. If you are an inexperienced driver, bring along a friend or family member that is knowledgeable in the mechanics of an automobile. Do not expect every vehicle to meet your expectations.
Consider a Loan
If you lack the funds to pay for the vehicle in full, you may need to see if you qualify for a cash advance. Companies can actually provide up $1000, which is big advantage for car buyers that need to make a down payment. If you have bad credit already you might want to consider alternative methods of payment.
If you play your cards right, you will end up with an amazing first vehicle. Your car is destined to provide sweet memories that last a lifetime.