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Buying your first car is a big milestone in your life. While it can be tempting to drool over the shiny red convertible that’s sitting in front of your local car dealership, there are some things you should keep in mind before you actually make a big purchase. 

When you’re in the market for your first car, take a step back and do a little planning ahead. When you do, you’ll not only realize what you need (on top of what you want), but you’ll be able to figure out your budget and how long you want your car to last. All of those factors play into what you’ll end up purchasing, and the car you choose will be a better fit for you if you take the time to consider as many details as possible. 

When considering your reasons to buy a vehicle, don’t overthink it. If buying a car would be beneficial to you, and you have the financial means to do so, there really isn’t a “wrong” reason to purchase a car. 

With that in mind, let’s go over some things you should keep in mind during your search. 

What Are Your Needs?

If you’ve decided to buy a car, you probably have certain needs in mind that you expect it to fulfill. Think about what you’re going to be using your car for. That can help you to narrow down the type of vehicle that will best fit those needs. Some basic factors to consider include: 

  • Weather conditions
  • Terrain (important when you’re considering things like four-wheel drive)
  • How easy it will be to maintain
  • Who will be driving it
  • Gas mileage

The more needs you can list off in your search for a car, the easier it can be to narrow down your options. Think most about how and where your car will be used, but make sure you choose a vehicle that can also handle other conditions if need be. 

You should also consider the reliability of whatever car you choose. Doing research on promising makes and models ahead of time will give you a lot of information about safety features, reliability, and longevity. A car that lasts longer is going to end up saving you money. You won’t have to constantly put money into repairing it, and you won’t have to buy another one for a long time. 

Finally, consider how car insurance might affect your purchase. Insurance is required in all 50 states, and your premiums might be higher if you’re a new driver. Some cars that are considered safer or have extra reliability features might help to bring your cost down. If you’re on a budget, thinking about how your vehicle might affect your insurance can help to make your decision easier. 

Speaking of budgets … 

What Is Your Budget?

Budgeting for your car is probably the most important thing you can do. Almost everyone has a “dream car” in mind, but it’s not always feasible or a smart decision. You can try to take out extra loans or spend money you don’t have to get all the bells and whistles. But, the last thing you want is to be drowning in debt thanks to a shiny new car when you can get something even better for less money. 

When you start to build your budget, think about how you’re going to pay for your car. Will you be buying it with cash, or financing? If you’re buying your first car, you likely won’t have another vehicle to trade in. But, if someone else is trading in a car for you, research its Kelley Blue Book value online so you can get a fair price. That’s also a great way to shop for cars, since you can do your research all in one place. 

The Facts About Financing

If you’re financing a car, it’s important to factor in things like sales tax and dealer fees. An auto loan calculator can help you determine how much you’ll be paying each month. Try crunching the numbers for several vehicles you’re interested in and see what you can afford. Having several options and in mind can make your decision easier, whether you end up going to a dealership, buying from someone you know, or looking online. 

There are benefits to financing. First, you’re constantly building equity in the car, and once the payments are done — it’s yours! You can then sell it or trade it in for something else. But, the payments can be pretty high depending on the type of vehicle you consider. If you don’t have a lot of money upfront, or you don’t have a trade in worth much, financing is often the best solution that will allow you to afford a car and make monthly payments.

Buying a Car With Cash

If you’ve got cash on hand, using it to buy a car will keep you out of financing debt, and allow you to drive away free and clear, without having to worry about monthly payments!

If you’re able to buy a car with cash, you might be able to get a better deal on it. Car dealerships are generally interested in getting paid as much as possible as quickly as possible. If you’re able to give them cash for the car right away, and they don’t have to wait years for it to be paid off, the dealership could cut the price of the vehicle significantly. You’ll also avoid paying interest on the vehicle, which can save you thousands of dollars in the long run.

Many times, buying a used car is the best option. Used cars can be just as reliable and safe as their new counterparts, but they’re often much less expensive. If a used vehicle is better for your budget, make sure you take it for a test drive, ask for the vehicle history — including all of the service reports — and have a mechanic look it over before you buy it. It cost you a bit more upfront, but you’ll end up saving a lot of money in the long run when you know you’re not stuck with a clunker! 

Long-Term Car Care

Buying a car for the first time requires research and planning. It’s a major purchase that should last several years. Because you’re putting so much time and planning into your purchase, one last thing to consider is how you’ll care for the car over the long term. 

Again, this is something you should think about in your initial research. Some cars might require more regular maintenance than others. You can also take regular upkeep into your own hands by knowing how often to get your car fluids changed. This includes things like oil, brake fluid, and power steering fluid. 

Maintenance costs money, but if you factor that into your budget, there’s no reason you can’t have a reliable car for years to come. That can be a big deciding factor for some people, especially if you can’t afford a different car every few years. If you’re planning on passing down your car to your child or someone else in the future, taking proper care of it will also ensure it stays ready for the road. 

Buying a car can be a fun and exciting experience. There’s no reason you can’t end up with a car you truly love and one that will be reliable and safe. Keep all of these considerations in mind as you start on your hunt for your first car and you’ll be hitting the road in no time.

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