5 Ways To Save When Purchasing Your First Car

5 Ways To Save When Purchasing Your First Car

Buying any car can be a daunting experience, especially when you consider the vast range of options to be taken into consideration as a first time buyer. However, with a few well-chosen pieces of advice in mind, taking that first step into the world of car ownership will hopefully prove to be a rewarding undertaking. Here are five important things to bear in mind when taking the plunge:

Research

Taking the time to look up the most basic information about a particular model can be a great help even before you decide to step foot on a forecourt. Reading a couple of reviews online or in a well-respected printed publication can highlight any potential problems you need to look out for.

Budget

Most first time buyers tend to be in a younger age bracket and are therefore more likely to find their financial means restricted. Consider your own situation with regards to your current and future plans. This means making a full account of your expenses and income and deciding what price range you can afford.

Inspection

One of the first things you will need to do before any purchase of a used vehicle is to obtain an inspection by a qualified mechanic. While this may seem like an unnecessary cost, money spent at this stage is well worth it. First time buyers with little or no knowledge of cars will always benefit from having an independent appraisal of any previously owned vehicle.

Additional Costs

While most first time buyers are likely to be looking for something small and cheap, fuel economy must be taken into consideration before deciding on your purchase. Similarly, whilst you may not elect to have the most expensive fully comprehensive insurance cover from the outset, familiarizing yourself with the financial commitments of regular insurance payments can make budgeting far easier in the long term.

Finance

While your budget might stretch to allow you to buy your first car entirely with cash, you may also need to look at taking out a loan to help pay for what is likely to be the most expensive purchase you’ve ever made. Make sure you understand the technicalities of any package you take out and factor this in when agreeing to buy.

Following these simple steps should help to steer you in the right direction when it comes to buying any car, but especially your first car, and the rewards of having your own vehicle will make it well worth any time and effort you spend beforehand.

About The Author

Edwin is a marketer, social media influencer and head writer here at Stack The Chips. He manages a large network of high quality finance blogs and social media accounts. You can connect with him via email here.


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