First time new car buyers are in a unique position that they’ve never been in before and that they’ll never be in again. That first time you get to step behind the wheel of your very own brand new car is an experience unlike any other for a driver. This is an exciting time and one that should be filled with good memories to look back on later. Make sure as a first time buyer that you make wise choices and follow some simple tips so that you can make this experience as positive as it can be.
Buying Cars within Your Means
There are some rules of thumb and new driver tips that are out there which can really help new car buyers get the most out of this experience and make sure that they end up with the right vehicle when all is said and done. First and foremost, you don’t want to get buried in debt t make the purchase. It is very tempting to go for that extravagant sports cars or SUV, but for a lot of us buying new for the first time that is not the right way to go.
Use common sense to determine a limit on what you should spend. There are a few different ways you can set limits based on price. One is to say you really can’t afford a car if you can’t put 20 percent down on it. This down payment helps prevent getting upside down on the value, which helps greatly if you ever get into an accident and have to file a major car insurance claim.
Another is to determine how much money you can really afford to add to your existing monthly expenses without getting in trouble financially. Figure out a sensible monthly payment maximum and do not exceed it, and work diligently to secure the best auto loan value with the lowest possible rate to help stay within that guideline. You can also shop online for auto loans as well as for new care deals, both of which can save you money and help you stretch that budget a little more.
Researching a New Car
There are many things we can also do as new car buyers to learn more about the cars we’re considering before we buy. For instance, you might consider checking on initial quality ratings from consumer agencies and projected resale value information as well. Look at crash test ratings from IIHS and NHTSA to make sure you’re getting a safe ride. Safety and dependability are both very important, two of the details we should really try to focus on when selecting our first new cars.
There is no such thing as a grace period in most cases allowing you to take a car back to the dealer and get a refund after the fact. For this reason, you need to do your homework before you buy so that you can be sure to end up with a great car. Get a look at the extra expenses aside from the payment that contribute to total cost of ownership, such as the fuel efficiency of the vehicle and insurance rates.
Auto Insurance on New Vehicles
For first time new car buyers, car insurance can be especially troublesome as a source of expense. Save hassle by getting free no obligation quotes for car insurance before you sign on the dotted line and drive it home. Use our free quote form and request quotes from some leading insurers in your area and you just might save enough to buy the car.