Deciding to buy your first car is certainly different from actually buying it. Additionally, owning your first car without getting financial assistance from your parents is definitely another story. Buying your first car using your own money will give you a sense of fulfillment, and making that happen isn’t far from reality with these tips:
1. List the reasons why you need a car.
There should be at least one good reason why you need a car so you won’t regret in the end. Paying for something you need gives you the motivation to work for it rather than expending money on something you just want. You don’t want to get into trouble paying for your car when you lose that drive in the end should you realize that your car isn’t worth your money.
2. Decide how you'll use your car.
Include in your list of reasons the possible major uses of your car. This will help you decide how to go about on the succeeding tips
3. Choose the type, size and fuel of the vehicle that you want to own. This would, of course, depend on the preferences you made in the first two steps.
4. Determine if you need a first-hand car or a pre-owned one.
A new car ensures your vehicle is in great condition. Furthermore, there’s a limit to the service warranty and added expenses for maintenance if you choose a pre-owned vehicle.
If you prefer to get a pre-owned car, make sure you will be able to contact the previous owner to know more about the vehicle and validate the ownership. When getting a first-hand or second-hand vehicle, you should consider reading about its reviews.
If you are considering a second-hand car, get a trusted mechanic to fully inspect the vehicle. A test drive is absolutely necessary.
5. Check out your payment options.
Like some other commodities, cars can also be purchased by cash or through financing (bank or in-house financing). Consider the budget/cost, the length of time you will be paying for your first car, and your source of funding to pay for it.
6. If you are a student, new graduate or a school employee, check out discount programs offered by some car companies.
7. Get recommendations on car dealers
If you need assistance on the above tips, finding the right dealer through recommendation is one viable option. Maybe this is one area of heklp where you can ask your parents.
The dealer should be able to help you decide the appropriate car type, budget and acquisition procedures for you.
Ultimately, making sure that being able to find the right car for you safeguard how you will be spending your money. Remember you are paying for your first car. Spend your money wisely.