Whether you’re in high school, university or you’ve just graduated it could be time to buy your first car. Another adulting step, it can be an exciting yet daunting time if you don’t know what you’re looking for. Even with the guidance of friends and family, it’s a good idea to do your own research in advance – to ensure that you’re in the best position possible.
To get you started, here are 5 tips that you can use to purchase your first car:
Set a Budget
This is perhaps the most important part of the car buying process. Before you go out and get your heart set on a car, think about how much you can realistically spend on it. Cars aren’t cheap – no matter where you’re buying one from. So make sure that you aren’t stretching your finances to the limit.
Of course, there are plenty of college graduate car deals out there, and you could purchase your car on finance if you’re looking to spread the costs out. But nevertheless, your top budget should be at the front of your mind throughout the process.
Do Your Research
Once you have a budget in mind, start to research your options. Look at various vehicles from different dealerships and decide on the type of model that’s right for you.
During this research stage, also know what you need to purchase a car. From the sales tax to registration, a bill of sale and a title transfer (key paperwork if you’re buying it used from a friend), there are certain documents that you’ll need to have.
Decide on New Vs Used
After looking at various models of cars, spend some time considering whether a new or used car is right for you. There’s no denying that used cars are often the number one choice for those purchasing their first car (usually because of the price tag), but many look to buy a brand new car as their first vehicle. This is usually because they like the idea of having a vehicle that’s new off the factory line.
Go for Test Drives
When you’ve spotted your dream car, arrange to go on a test drive. This is the perfect opportunity to see what it feels like to drive the vehicle and will make the decision up for you as to whether it’s the right vehicle for you. If it’s a used car, it’s also a good way of seeing the quality of the vehicle and whether it’s everything that the advert promised.
Once you’ve picked the car that you want, it’s time to arrange car insurance. To do this effectively, take some time to look at various providers along with what they cover for the price that they charge you. Insurance isn’t cheap for first-time drivers, but the longer that you drive for, the lower the cost will be.
Insurance is crucial if you find yourself in an accident when you’re out on the road. And while you can seek additional assistance from the likes of Rosenfeld personal injury lawyers, it’s good to have the reassurance that you’re initially covered when you’re driving in case anything happens.