Tips On How To Buy Your First Car

Every following year for the next 5 years the car depreciates by 15 to 25.

Tips on how to buy your first car. Once you pass your test and get a driver s license you ll probably start thinking about buying your first car. If the owner or dealer doesn t want you to then walk away. But you have to look at a car as a piece of metal says brian munroe author of car buying revealed. Know your credit score. Take along a friend or family member preferably someone who s been through the car buying process before and who isn t afraid to offer their opinion.

Purchasing a car is a big financial step probably the largest you ve considered taking thus far. You may also be able to get your credit score for free through your credit card provider. Ideally a friend who knows more than you about buying a car. Buying your first car when you ve found the car or cars that you re interested in buying head to the dealership. On average a new car loses 11 of its value the moment you leave the lot.

Here are their top tips when it comes to buying a car for the first time. So if you earn 65 000 per year your max budget is 13 000. A good rule of thumb is to keep the purchase at or below 20 percent of your yearly salary. Your monthly car loan payment should be less than the resulting figure. Better credit may help get you a more favorable interest rate which in turn will affect your overall car buying budget.

Your credit score helps determine the interest rate you pay on a car loan. Otherwise hop in and take it for a drive. This number and what s important to you. Keeping your budget top of mind is one of the most important tips for how to buy a car within your means. You can always trade it in down the road bring a parent or friend along to act as the voice of reason he advises and don t buy anything on your first trip to the dealership.

Take someone with you. Don t get swept away by the excitement of getting 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. When buying a car from a dealer davidson says many people start backwards by visiting the dealership. Strongly consider buying used.