Sarah Kelly

Things to Know Before Buying Your First Car If you’re looking to buy your first ever car, besides the initial excitement about the idea, chances are, you’ll see frustration slowly waving at you when the buying process proves to be quite much work (and you don’t have Amazon Prime shipping for that … yet). The abundance of information on the internet would certainly help if buyers set aside a bit of time for researching to arm themselves with some knowledge before stepping into an auto dealership lot. To help you save time on the matter, here are briefs of some of the most essential guidelines that every car buyer should know. 1. Make a list If you have done your homework and come up with the best choice, great, you can proceed with your purchase. But if you start from scratch, not knowing or having a strong preference for any model, you may want to draw up a list of several options that are in your budget range. Starting from why you need your soon-to-be new car, for family trips, hanging out with friends, taking clients to lunches; different purposes result in different car features. Also, considering which one fits your situation better: a used car or a new one. Weighting your options based on your own list of factors such as color, size, number of seats, performance, safety functions, price differences, etc. This list will serve as a reference and help you to make a well-researched, rational decision instead of an impulsive buying. 2. Finance the purchase There are a variety of financing options, namely, leasing or getting a loan (from banks, lending companies, or at the dealership). Here is what each option offers: Leasing: You pay for the period of time you use the car. Leased cars need returning in good conditions so as not to be fined for damages. You’ll often have to pay a fee if you terminate a lease contract early. You have the option to buy the car after the lease period ends. Making a loan: Often enough, the better credit scores you have, the lower the interest rate you’ll get. You should opt for a smaller loan (i.e. higher down payment) to reduce monthly payments and avoid longer repayment term which eventually makes you pay more in total in the period of the loan. You can use an online loan calculator to assess your options. 3. Look up warranty and insurance Most of time, an extended warranty or service contract will be included in your purchase. A service contract from the manufacturer cover a list of repairs and services that can be carried out by any authorized dealership, and you won’t have to pay out of your pocket. Be wary of extended warranties offered by independent as they vary in terms. Automobile insurance is an absolute must. You never know what might happen and insurance offers you peace of mind. Looking up insurance rates before buying your car and reviewing carefully the terms of which situations are covered by your insurance. 4. Choose where to shop Nowadays, internet offers such a quick and convenient way of shopping; and when shifting from site to site, we buyers feel like we hold more power. Should be like that! Local dealers If you happen to know any trusted local dealer and they have what you’re searching for, going with them will be a convenient choice though may not be the cheapest. Direct purchasing websites If you go for a direct purchasing site, the company behind the site will serve as a broker and help you all the way through the process of making payment and delivering. Dealer-referral purchasing websites Dealers on these sites negotiate and work online with their customers via email or social online platforms. To get a quote, you’ll need to fill out a Purchase Request (it’s not an official buying obligation) to provide the dealer with necessary information. You then will be contacted via email or phone calls. 5. Get a thorough test drive Checking everything you can: power, sound, braking, ride comfort, etc. You can get an experienced driver to go with you and consult him or her on what matter the most in the long run. If possible, test drive a few different models or different cars of the same model. Not every car is made the same even when they are the exact same model; some may be faster, some may be easier to handle. Finally, regardless of what type of cars you’re going for, it pays to be prepared and informed before making your purchase.