If you’ve recently passed your test, then you now have the exciting task of finding yourself a car of your own. You’re probably wondering what buying a car entails and how best to go about choosing your new ride. This is a big step and you probably can’t wait for the freedom that having a car of your own will bring. If you’ve been learning to drive in the west midlands, then the good news is that there’s plenty of reputable car dealerships in the area for you to shop around for your new vehicle.
But you may also feel daunted, and that’s ok, since this is probably the biggest financial commitment that you’ll have had so far. That’s why it’s important that you follow the best practice in terms of setting a budget, sourcing the funds and choosing the right car for you. To help you on this journey, here’s all you need to know as a first-time car buyer.
Affording Your First Car
The likelihood is that you probably won’t have the cash to buy your first car outright, few people do, but there are plenty of options for you to finance your car as a first-time buyer. You may be able to find an attractive first-time car buyer program, which will allow you to get a loan. Specific car manufacturers can provide you with this option, as an incentive to choose their vehicles. In most cases, this will allow you to secure a loan to purchase either a new or used car, depending on how much you’re wanting and are able to spend.
Car dealerships may will also provide you with the opportunity to finance your car using credit, for example. This means that you’ll be able to pay for the car in monthly instalments. It’s vital that you put as much effort into shopping for the best finance deals as you do for finding your perfect car, to get the most for your money and avoid over-paying. Of course, with any credit agreement or loan, you’ll have to meet a range of requirements, like being in stable employment, for example.
What Do You Want From Your Car?
There are plenty of things to consider when buying your first car. Do you want new or used? Manual or automatic? Petrol or diesel? The answer to these questions will be personal preference, but can also affect not only the price of the car itself, but also the cost of your insurance. Typically, the more expensive the car is, the more that your insurance will cost, but the age and size of the car’s engine can also affect this.
In terms of value for money, you’ll want to purchase a used car. As soon as you drive your car away following purchase, it will instantly depreciate. This is because car’s values are based upon the vehicle’s age, condition and also, the number of miles that it has travelled, along with countless other things.
Viewing The Car
The key to finding the perfect car for you, is shopping around and test-driving multiple vehicles. The best approach is to avoid buying the first car that you see, so maybe plan a day where you’ll schedule multiple test drives of different cars. That way you can compare and contrast, and also find the best deal. When viewing a car, try to take someone with you who knows about cars, especially if you’re buying a used car, as this will ensure that you don’t have any unwanted surprises when you drive away in your new vehicle.
If you’re buying a car from a dealership, then you should also consider the additional extras that come as part of your purchase. The majority of dealerships will offer you a warranty as part of the sale, which is a promise that should something go wrong with the car following your purchase, they will fix the problem. These warranty agreements typically last for around three months, however this is dependent on the car manufacturer.