In the US, you can get a learner’s permit when you’re as young as 14 years old. This means that by the time we’re legally adults, most Americans are pro drivers already!
Many are lucky to be given cars by their parents as soon as they get their license. But if you’ve had to work hard and save up, then you might not have had a vehicle to drive.
That is, until now.
Your savings account is looking nice, so you’re planning on buying your first car. But how can you make sure you do it right?
By taking the following steps!
Determine What You Can Afford
Chances are, you won’t be able to afford a car outright. It’s fine to get auto loans, but you need to figure out what monthly payments are affordable.
You’ll also need to balance affordability with loan term lengths. While longer terms offer lower monthly payments, you’ll be paying more interest. So put the loan term at the shortest length possible, without bankrupting yourself.
You can then apply for loans at places like CarsFast. Make sure you’re preapproved for auto financing before you go shopping! That way, you know exactly what you’re working with.
Write Down Your Needs
Most of us would like a convertible, but those aren’t affordable, nor are they practical for daily use. So before you walk into a dealership, write down your needs and figure out what car’s ideal for you.
For example, a small hatchback is ideal for a single person living in a city with tight parking spaces. But a family with 2 kids living in the suburbs would need a minivan to ferry their household everywhere.
Browse Your Choices
Now that you know what you want in a vehicle, it’s time to start browsing. It’s best to do so online since you won’t be pressured by a live salesperson. You can also take your time to browse the specs and understand them.
When you’ve got a nice list of potential vehicles you want to buy, it’s time to head to the dealership or speak to private owners.
Test-Drive Cars
As a first-time car buyer, you might be eager to get the keys in your hand. But patience will pay off!
Arrange to test-drive vehicles to see how they handle. You should also inspect them thoroughly, especially if they’re used vehicles.
Make the Purchase
Are you happy with a car? Then make an offer!
There’s always some wiggle room, so negotiate for a better price. After all, the worst that can happen is that they don’t budge on the price.
If the seller agrees, they’ll draw up a contract. Make sure to read it thoroughly before signing. Once you do, the vehicle’s yours!
Good Luck Buying Your First Car
Buying your first car is exciting. Not only will you get your own set of cool wheels, but you’ll have the freedom to go anywhere you want!
It’s a huge investment though, so make sure you use this handy checklist when you’re buying a car. It’ll definitely make your investment a worthwhile one.
To learn how to handle other milestones in life, browse our other blog posts now!
