Buying your first car is a time to remember as it’s one of your first steps into true adulthood. As excited as you may be, it’s important to not get too caught up in it. Purchasing a vehicle is a massive expense, so you need to be diligent about it. Though, it should be noted that buying a car isn’t as simple as it sounds. In fact, a lot of new buyers often struggle with the process; from not knowing what vehicle to buy to handling insurance costs, we’ve come up with this brief guide to help you out.
Know What You Want and Need in a Car
Before purchasing any kind of vehicle, it’s important to set a few standards. No one wants to drive a car they don’t want or one that doesn’t perform well. You need to know what exactly you want your first vehicle to have. Are you looking for a truck or a convertible? Does the car have blind spot monitoring? Do you want the car to have LED lights? These are all examples of what you could possibly want for your first vehicle. One thing to point out, however, is that you might have to compromise a little bit. If you’re really interested in a car and it has most of the features you want, don’t let it go. A lot of new buyers pass up vehicles because it’s not perfect.
Get Auto Insurance ASAP
Auto insurance is a policy that covers you and your vehicle from situations, like accidents and theft. This coverage insures you for property, medical and liability. Having this type of insurance is mandated by law, but one thing that can make a dent in your budget is the cost. On average, you’re going to be spending about $1,500 or more each year on auto insurance, which makes your estimated monthly payment about $150 a month. Combined with the interest rates, managing these payments can be difficult for first-time car buyers. However, you can start saving money by visiting a marketplace that have partnerships with some of the top providers. By comparing the rates, car buyers can get the coverage they need while not having to pay too much every month.
Don’t Underestimate Used Vehicles
It’s your first car, so it’s only natural to contemplate buying new vs buying used, and to want only the newest vehicles. However, something many new buyers do is overlook used cars. But what you might not understand is that used doesn’t mean old, rusty, and outdated. On the contrary, there are tons of up-to-date and high-quality vehicles that are used. In fact, you could get a vehicle that rivals brand new ones for a lower price. What’s more is that you can also have lower insurance costs, dodge any hidden fees, and they don’t depreciate as fast over time. When you buy a new car, it can lose much of its value over time, which can make it harder to make a profit if you decide to sell it.
Always Take a Test Drive
When you’re at the dealership and you find a car you like, the next step is to take it for a spin. Going for test drives allows you to get a good first-hand impression of how a vehicle operates. It also lets you see if there’s any potential issues, like faulty brakes, weak tires, and malfunctioning warning lights. If a dealership doesn’t allow you to do a test drive, it’s in your best interest to find another.
Read the Reviews
Word-of-mouth is a very powerful asset for every consumer. If a car isn’t up to par, people will talk about it. That said, make sure to read reviews of the model you’re looking at. Bear in mind, there will be a few negative reviews, but if they outweigh the positives, it’s best to look for another vehicle.