14 TIPS FOR BUYING YOUR FIRST CAR
The first time buying a car can be exciting as well as confusing! With so many options and much more information, it is easy for first-time buyers to get lost. It is a special moment when you buy your first car. One wants to make sure it’s a good deal in all aspects so here are a few tips for buying your first car and to help you make the first memorable purchase of your life
Be honest about your needs
First, be specific about your need, for example, you need the car for class or every day or for adventure only, what’s the weather condition in the area you are residing in, either snowy, rainy, or humid weather, evaluate your lifestyle and the driving situation you face every day, that might affect your buying decision, your car shape and that ultimately affect car price.
When purchasing a car, the first and foremost thing is you need to determine your budget. Then you can move on to select vehicles that fall into your budget range. Determine how much you are willing to pay for the car minus sales tax, registration charges, and other documentation charges (like car insurance, etc. ) based on where you live and what surcharges apply to your vehicle from your total budget.
Know your credit score
Credit Score plays a vital role when buying a car. It determines the rate of interest you pay on your car loan. Better credit scores give you the option for the lowest interest rate, which affects your overall buying budget. To know your credit score, you can contact your bank or credit card provider and get your credit score for free.
After establishing your budget, the next thing to look for in a car is the need for your capacity. Again, your family’s size and the luggage you travel with can help you estimate what size of car you require. For example, if you have a big family, a 6 to the 7-seater car would be good for you, but a four-seater car would suffice if your family comprises four or fewer people.
When looking at capacity, one more thing to consider, apart from seating, is the car trunk. If you have a big family or frequently travel car trunk plays a significant role in it.
Shape (Sedan/Hatchback/SUV/Station Wagon)
Although many car shapes and sizes are available nowadays in the market, with multiple brands competing to bring the most innovative design to the customers, there are various categories of car shapes, namely sedan, hatchback, SUV, and Station wagon. A hatchback is a car with no visible traditional trunk, whereas a sedan, SUV, and Station wagon car have a long compartment at the back.
When considering buying a car, one must keep in mind how much traveling one does with luggage and whether one needs a trunk for storage on long routes or not.
There are tons of different engines, each surpassing the previous model’s technology. The turbo and hybrid engines are the most in-demand and latest by far. Therefore, before buying your first car, one must consider Engine/horsepower as per need and demand.
Good wheels do not only enhance the look of your car but as well as a comfortable journey. They also ensure a smooth ride and can help you to save money. Although wheels are of different designs, the best ones fit your car size, so before buying a car, be specific with the wheel quality.
One must consider color preference while purchasing your first car. Generally, White color has the most resale value in vehicles. However, if you want to buy a car of any color, make sure that the paint is original and the first coating. It is not recommended to purchase re-painted cars as it reduces their market price and overall car value.
Based on the above points, selecting a brand and searching for a car and its available options is more accessible. Tesla, Suzuki, Toyota, BMW, etc., are some brands with multiple vehicles to offer to first-time buyers. You can select a brand on the basis of its ease of availability and available options.
Once you finalize the brand you are willing to purchase, next is to select the model and variant of the car as per your need. The vehicle comes in a different model, and each has some specifications before buying a vehicle finalized with the model as it affects car value.
Spare parts availability
Make sure that the car you choose has spare parts available where you will be using the vehicle. Some cars have costly spare parts that are hard to get and need to be imported, which makes them even more expensive. So as your first car, you would want to get any parts that need replacement readily available without the hassle of importing.
Since fuel prices keep fluctuating globally, having a high duel consumption can adversely affect your budget. One of the things to keep in mind while buying a car is to check its fuel consumption. Vehicles with good hybrid engines consume less fuel, and these cars can go a long way with less power and give better mileage coverage, so you don’t have to worry about refueling the car again and again.
Apply for A Loan
Many banks also offer loan options to help you buy your first car. You can ask the bank for a payment plan and tell them the vehicle you want, and then after making a deal with the manufacturing company, the bank offers to pay immediately.
Once you have determined the price range you can afford, move ahead to look into the available and appropriate options.
Take a test drive
Once you have shortlisted the car options you need per your budget, take each for a test drive and check how you feel and how the car performs. To compare alternatives, try to take a test drive on the same day. in this way, you can easily compare them. And come with the best vehicle of your choice.
The above-mentioned points can help shortlist the best-fit car as your first car and make it a hassle-free experience. Make sure that you do your research and select the appropriate vehicle as per your needs before going to the car dealer, so you can easily explain to them what you are looking for. This will also reduce your chances of getting scammed by a third-party dealer.