How To Prepare To Buy Your First Car

Before you venture out into any car dealerships take a look at our 8 tips you should know when you re buying your first car.

How to prepare to buy your first car. But for many buying a first car can be even worse. On average a new car loses 11 of its value the moment you leave the lot. Regardless of the route you take it s a good idea to visit a dealership to test drive the cars you are interested in. With some careful budgeting research and planning you ll have the confidence to negotiate the best deal and get the car of your dreams without getting taken for a ride. This strategy will help you avoid overextending yourself financially and getting deep into debt when buying a car.

Buying your first car may be the first major purchase you ever make. Strongly consider buying used. If your head is spinning at this point have no fear. Don t let the complexities of buying a car discourage you from getting your license. Your parent or guardian will need to guarantee the loan.

You have plenty of options when heading out to purchase your first set of wheels. Before buying a car make a list of things you want like used vs new fuel efficient vs fast ideal size resale value etc. Once you have a few cars in mind visit the dealership with no intention of buying and weigh your options. If you are planning to take out a loan to buy your car have at least 20 of the total price ready to pay in cash as a down payment. It s enough to make some teens wait to become a licensed driver.

If you re satisfied with the above then the next stage of our first car buying guide is to take the car for a test drive. Buying from a dealership. Shop for a lender. Take a realistic look at your finances too. Set a budget then search car websites for cars that match your wish list and fit in your budget.

If the owner or dealer doesn t want you to then walk away. Set your car buying budget. Buying a used car from another private party. Keeping your budget top of mind is one of the most important tips for how to buy a car within your means. After reviewing this handy guide you may discover that owning a car is within your reach after all.