Tips for First Time Car Buyers
Being able to buy your first car is an exciting time. However, since it is your first time, you’re likely to make mistakes along the way. Here are some tips for first time car buyers that you should take advantage of.
Things That Every Shopper Should Do When Buying Their First Vehicle
Be Honest About Your Needs – Are you just commuting to work or school? Do you have kids or lots of cargo to transport? If you don’t need a lot of space, perhaps a sedan is best for you.
Determine Your Budget – Determine the amount you make per month. How much of that money is going towards rent, food, and utilities? Are you already paying off a loan? What’s the amount of cash you are willing and able to pay every month for a vehicle?
Do Your Research – Every model and brand is different. Some vehicles may be more reliable and durable than others. Meanwhile, others may offer the features you need, like handy safety features and technologies. Before deciding on a vehicle, you should understand what to expect.
Take a Test Drive – Depending on the seller, it may not be obvious that there are issues with a vehicle. You should carefully inspect the vehicle in question for any red flags that indicate problems other than what is expected from normal wear and tear. Listen for any weird noises, see how driving the vehicle feels, and try out some of the electronic features to make sure everything is working properly.
Get Accepted for a Loan – Once in a while, a first-time buyer will come around with enough cash to purchase the car outright. However, this isn’t the case for most. Since the majority of first-time car buyers are students or young adults with little to no credit, getting accepted for a loan can be tricky. Shop around for affordable loan offers and apply. Also, like here at OkCarz, many dealerships let buyers finance directly with them even if the buyer has bad credit.
Agree on a Price and Pay on Time – Once you found the car you want, negotiate with the seller for an affordable price and/or payment plan. Chances are, they’re willing to work with you. Once the contract is signed and you got the keys, pay your car payments in full on time. Doing this will help you build credit. Failing to pay as agreed can significantly damage your credit score.