Congratulations are in order if you have decided to purchase your first vehicle, and it’s a vital decision that will have many benefits. If you’ve been saving up for your purchase for months, you’d want to make sure that your choice is ideal – not just for your needs, but also for your budget. But it doesn’t mean you should just go ahead and get the cheapest car you can find.
You can still find a reasonably-priced model if you know where to look, and there are other factors to think about as well. Your first car can be a luxury vehicle as well if you have the budget. With a vast array of vehicles out there, it can be a bit difficult to make your choice if you don’t know where to start. But we’ve come up with a list of top tips to help you along, so here’s how you can adequately select your very first vehicle.
#1 Determine what you require
At this point, you may already be drawn to some makes and models. But it pays to be practical, so consider your needs. What purpose will your car serve? Is it to get to and from work, or do you also like going on road trips? Are you using it in the city? Remember that no vehicle will have everything, and it’s best to prioritize what you need. If you want to fit a family into your car, you could go for an SUV or MPV. If you’re a single person, you may be eyeing a hatchback or sedan. Just think about your requirements and it’s easier to move forward from there.
#2 Decide on your budget
Not many buyers will pay with cash, but if you can do so, there’s no stopping you, because paying cash can get you off-paying interest. But if you take out a loan, make sure you factor in all other expenses for the car, such as insurance, maintenance, fuel, repair, and registration. Ideally, these expenses shouldn’t take up more than 20 percent of your monthly income. Check out a loan calculator so you can figure out the perfect price for the monthly payment and expenses. And as experienced car dealers like our friends at Youngautomotive.com recommend, try not to give in to the temptation of stretching your car loan if you want a costlier model.
#3 Check out different models and reviews
Even if you have your mind on that particular make and model, it won’t hurt to check out different models. Who knows, you may find that another model is more suitable for your needs. The vehicle market is booming, and you may end up overlooking another model that’s less expensive and with the same features you want. It’s important not to be too hasty because you will have to live with your decision for a few years (at least). You can build a list of five vehicles and read reviews on each and compare. From your comparison, narrow it down to three.
#4 Do a test drive
Test driving a vehicle is one of the most essential things you can do, whether you’re purchasing new or used. You have to know how it feels to drive the car, and you need to experience it first-hand. Schedule your test drive in the morning on a weekday, so the dealership isn’t too busy, and try out the models you’re eyeing. From there, you can make a better decision.
Follow these tips and you are good to buy your very new car. Although I don’t recommend that you buy a luxury car as your very first car, but if you really want to, make sure that you can drive a car with really good care because luxury cars have large engines. Whichever car you choose make sure you enjoy every ride with it.