It is exciting to have your first car. You get to choose from the many cars available which offers the fruits of our technology. However, due to the wide choices available, choosing your first car can be intimidating and tedious. As such, presented are five tips for purchasing your first car to help you.
Know Your Budget
Do not waste your time browsing for luxury cars if you cannot purchase them yet. Know the cost you are willing to spend then decide. Depending on your money, you may afford high-end cars or opt to stick on used cars. You should also take into consideration the down payment if you are buying a new car. Aside from this, other costs that should also factor in are the insurance, gas, tolls, and maintenance. It is best to take note of these expenses and use loan calculators to track everything.
Know What You Need
Knowing the purpose of the car, you can narrow down the car you should purchase. The car that should be purchased by one will use the car primarily for commuting to and from school or work will be different from a car that will function as a family car. Knowing the intended purpose of the car will greatly help you make your purchase easier. You would not want to purchase a car that cannot cater to your needs.
If you have your cash ready, then you pretty much have everything covered. However, for those who are not ready to put out cash, there are many financing companies that may help. Just consider their interest rates so that you get the most out of a deal.
Make Use of Available Discounts and Rebates
Unlike used cars, new cars are often sold with attractive deals that may include discounts and rebates. Take note that when manufacturers are to release new models, their older models are offered at lower prices to clear them. That is, you get a new car while saving cost. Likewise, considering that new cars depreciate on its first year, one should consider a used car that had been used for nearly one to three years instead. However, also make sure that you don’t waste your money on cheaper cars that may only last you a few years or months.
List all Possible Purchases and Test-drive them
Once you had narrowed down your choices, you should list them all down. Doing so will prevent you from deviating from your budget allotment and help you take care of your needs. Afterwards, you should further narrow down the list by test-driving them. By doing so, you can assess the features of the each of the car first-hand. You may determine how the controls work of each of the car on your list, how a car is on the road, if it provides sufficient visibility, and the gas mileage you can get for each car. Additionally, by test-driving, one may assess if the car is spacious enough for your needs and if it is comfortable to use.