Best Way To Buy Your First Car

This strategy will help you avoid overextending yourself financially and getting deep into debt when buying a car.

Best way to buy your first car. Whether you ve saved up for it taken out a loan to finance it or the bank of mum and dad are stepping in it s something you ll never forget. Buyers should keep these tips in mind to make smart decisions. Leasing only makes sense if two things are true for you. That can be a bad combination. You love having a new car every couple of years.

It usually costs more to finance a used car. Dealers know that they can make a killing on used cars. Shopping for your first car is a lot easier for you than it was for your parents. To help you make the right choice we ve put together this first car buying guide. Buying your first car tips for young shoppers a car is a big purchase and it s an emotional one too.

And if you re looking to buy a beater that will just get you from point a to point b cash. Buying a used car usually means a significant dealer markup. Euro ncap s crash tests and safety ratings are the best guide to finding a safe car. Because cars depreciate lose their real value very quickly buying in cash is typically the best option. This is part of your rich life and you d gladly cut costs in other areas of your life to support this.

Don t get swept away by the excitement of getting your first car. You can start with a credit card from your bank or a gas card from a local gas station but be wary of store credit cards which generally have high interest rates 18 22. That will determine how new and reliable it needs to be. But they change their test regime and rating system every few years so you can only really compare their star ratings between car models of a similar age. You have the budget to pull.

Shop for a lender. Your car will depreciate less if you buy used because the initial depreciation was so drastic. The best way to save money is to buy used. Buy your car keep it for 7 10 years then buy another. The internet offers a wealth of sellers beyond your local area who may ship cars to your area which may come with a fee which can mean more choices in your price range.