10 Crucial Tips On First Time Car Buyer
There are a lot of feelings and uncertainty attached to the prospect of buying your first car. And in anticipation and excitement, sometimes important issues get missed. To keep track of these issues, we prepared some tips to help you understand the benefits of each step and why you should not skip any of it.
For a lot of people, their first car is one of the most cherished possession, no matter if it is a used car or a brand new car. Some amount of planning is necessary for any purchase like this and by the end of this post, you will be wiser and will be able to make a better deal in getting the car.
- Understand What Can be an Ideal Budget Keeping in Mind Your Savings and Earnings
Usually based on your purchasing power and what you can earn, this figure is significant for a lot of reasons. It helps you understand how much money you can afford to pay everything month for the car and the required upkeep for the car. It is essential to figure out how much you’ll be spending on the commute and all the necessary items. There is no point in trying to go for a high-end car if the upkeep and expenses are out of your budget as it’ll add unnecessary tension and troubles. Try to save some amount of money each month for emergency maintenance purposes.
- Plan Your EMIs
It may seem like a difficult prospect to understand and similar to the previous point, it is different. This for the people who take financing. Planning the EMIs is important while you choose the financing option. A lot of people try to take the shortest repayment period possible, and this can have the potential to destabilize your monthly budget. Since EMIs are usually payable to the banks or credit agency, it has an impact on your credit rating also.
- Buy A Car That Fits Your Needs
A lot of people don’t understand their requirements and end up with a different car type based loosely on what they need it for. Since the car is a considerably long term purchase, it is important you understand what fits your requirements and pockets, both. It may be a wrong choice to get SUV if you require a sedan and so on. More than money, it is what gives you the best value.
- Don’t Settle With Grudge
Buying the first car should leave you happy instead of getting the buyer’s remorse after you buy it. If the vehicle you want is slightly over the top but within your budget, then it can be given a thought. But this should come with the understanding that you may have to cut back slightly on something in your budget to accommodate the additional cost per month. Don’t go beyond a point though and set a realistic limit as mentioned in the 1st point. It is important to know when to stop!
- Research Before You Buy
Instead of just asking everyone, make it a point to research for your first car. Don’t go just by the brand name and look into the car features to extract what you need. There are a lot of websites available on the internet that will be able to tell you in a straightforward language all the aspects of the cars you are looking for. You can also use the comparison tool to check for the best possible car for you. Asking for reviews from someone who owns a car that you want to purchase is a good option too.
- Find A Dealer Near You
The next step is to locate the dealer for the car you have shortlisted. Look for a place that has a decent amount of customers; this will give you an idea about the services of that location depending upon the car you want. Talk to the salesman and try to understand the practical demonstration of the features that you are looking for. Next part of the demonstration would be the test drive.
- Test Drive
The importance of taking the car for a test drive should never be negated in any situation. While you may have all the information about the vehicle, it is important to get the hang of the car. Since you’ll be spending a lot of time driving the car in case you go ahead with the purchase, it is better to get into the car and take it for a drive. Check all the features of the car and adjust as you can to know if the vehicle fits your needs. Check the acceleration, the brakes and how the car performs while driving to arrive at a conclusion about the car’s performance.
- Try To Negotiate On The Buying Price
Although you will have the budget and the car’s price idea from your research, it is usually acceptable to negotiate on the price. There are discounts, or some other benefits that are available to the buyers or the salesman might provide you with some discounts that may ease the deal for you.
- Check The Financing Options
Financing options are necessary, and you can try and compare among different options to check and find what is the best one for you. The financing options will be affected by your credit rating and history. If possible, try to talk to your bank beforehand to know of a desirable option for you. This will prevent any backtracking on behalf of car dealer since you will have all the numbers in order.
- Enjoy The Buying Experience
Though the tips may seem a bit stringent, it is important to enjoy the process. Your first car might be your one of the first big purchase and taking responsibility in the process will help you gain insight into a lot of other aspects. Those serve to improve your future experience and help you get the right choice always!
After you are done with buying the car, make a point to keep the car properly maintained. These tips will help you care for your vehicle better.