Use These Tips To Get An Affordable First Car
Posted on: 1 August 2019
Many people have limited budgets for their first cars, which reduces the pool of cars they can choose from and calls for keen shopping. Use the following tips to help you buy your first car, especially if you are on a budget, and get a good one without regrets.
Set a Realistic Budget
The first step is to come up with a budget that considers both purchase and ownership costs. For example, you should consider the monthly car payments, fuel consumption, and maintenance costs of the car. All these should form the basis of your research and purchase. Stick to this budget at all costs.
Get a Used Car
At this level, buying a used car makes more sense than buying a new car since used models are relatively inexpensive. Brand-new cars start depreciating from the minute they are driven off dealerships. The rate of depreciation is particularly high during the first few years of a car's life. This means you can get a newish car (with relatively new auto technologies and still useful parts) at an affordable price.
Have the Car Inspected
Even if you get a car that is only a couple of years old, you still need to have a mechanic inspect it. That way, you will know whether the car has a history of flood damage, accident damage, and negligent repairs, among other things. The inspection will also tell you more about the general structural integrity and safety of the car.
Avoid Exotic Cars
Focus your research on common makes and models. Avoid exotic cars, collector cars, or rare cars. Such exotic cars may require special maintenance and difficult-to-find parts that make them unsuitable for first-time buyers on a budget
Be Wary of Extra Features
Modern cars come with numerous bells and whistles. Some of these features are pretty useful, while others may not be useful to a car buyer on a budget. The trick is to prioritize your needs and wants and eliminate the features that will just drive up your prices unnecessarily.
Negotiate
Lastly, you should know that everything on offer at the dealership is up for negotiations. The price of the car, the terms of the car loan, and even the upgrades are all negotiable. Sharpen your negotiation skills and you are likely to walk away with a good deal.
Don't forget to buy your car from a reputable dealership. That way, you are sure of getting a good car and you may even get a warranty, which will come in handy in the unlikely event that you discover a problem with the car soon after purchase.
For more information about purchasing used cars, reach out to businesses like Gary Rome Hyundai.
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