A lot of young adults today use public transportation all the way through college, while others are driving the family car from as early as possible. As a result, most people today are in their early twenties before they are in a position where they need to decide on the first car to buy for themselves. Buying your first car is exciting, but it can also be a daunting task. There’s plenty to consider – engine size, safety ratings, and other common quality measures can be confusing if you’re not used to them. So, we’ve put together some top tips to help you when buying your first car.
#1. Use a Reputable Dealership:
There are plenty of different ways to buy your first car – you might find a private ad online or displayed locally, or maybe you know somebody who’s looking to upgrade their car and sell the old one on. However, buying privately, while often a bargain, can be risky if you’re not sure what to look for and don’t have anybody knowledgeable about cars to take along with you to view them. So, if you want extra peace of mind, buy from a reputable dealership like Abbotsford Auto Mall. A reputable dealer will also usually provide you with a warranty, which you won’t get buying privately.
#2. Consider Buying Used:
Generally speaking, a brand-new car loses around 11% of its value the moment you drive away from the showroom – and continues depreciating from 15-25% every year for the next five years. Once the car is just five years old, it will be worth under 40% of what you paid for it, so if you’re looking to save your money then opt for a car that’s already gone through this depreciation. A five-year old car can usually still be in really good condition with plenty of life left in it, but without the massive price tag.
#3. Set Your Budget First:
Cars come in all shapes and sizes, so the best way to narrow down your search is to set your budget before you begin looking. Setting your budget is hardly the most exciting step in the process, but it’ll make it much easier to determine what your viable options for a vehicle are. Don’t forget to budget not only for the initial cost of the car, but also for the other ongoing costs such as insurance, maintenance, gas and more.
#4. Do Your Research First:
After you’ve set your budget, it’s time to consider which are the best for you out of the options available. As a new driver, you can imagine that your insurance premiums are going to be rather high for the first year at least, so it’s worth getting some insurance quotes on different makes and models of car. Consider what you’ll be using the car for, too – do you need a large car to drive friends or family around, or space for a pet?
There are plenty of things to consider when buying your first car; keep all this in mind and it’ll be easier to find your perfect wheels.
