How to find your first car
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Finding the perfect first car is important for a new driver. You want one that suits your personality but also fits within a budget you can afford. Read on for some important steps in finding your first car, including…
Finding the perfect first car is important for a new driver. You want one that suits your personality but also fits within a budget you can afford. Read on for some of the important steps in finding your first car, including budgeting, choosing your car type and features, and visiting local dealerships.
Part 1 of 3: Budget and get pre-approved for funding
The first step before buying a car is budgeting. More often than not, when you buy your first car, you don't have a lot of money. So make sure you develop a budget and get pre-approved for funding before you even head to the dealership.
Step 1: Develop a budget. The first step to successfully buying and owning a car is to determine how much you can afford.
When budgeting, keep in mind the additional fees, such as taxes and finance fees, that you have to pay when buying a car.
Step 2: Get pre-approved for funding. Contact financial institutions to get pre-approved for financing before you start looking for a car.
This allows you to only buy cars for cars you can afford.
Available financing options include a bank or credit union, online lenders or a dealership. Be sure to look for better financing, including looking for lower interest rates.
If your credit is not good enough, you may need to find a guarantor. Remember that the guarantor is responsible for the loan amount if you do not pay. They also usually require a credit score of 700 or higher to qualify.
- Functions: Know your credit score when you are going to get financing. This should let you know what annual percentage rate (APR) you can expect. A credit score of 700 is a good credit score, although you can still get funding with a lower score but at a higher interest rate.
Part 2 of 3: Decide what type of car you want
Deciding on a budget is only part of the car buying process. Once you know how much you can afford, you need to decide on the type of car you want and then look for models within your price range. This process includes determining the fair market value of the car you are interested in, test driving it and having it checked by an experienced mechanic.
Step 1: Explore the car you want. First, you need to research the car you want and decide which make and model of car is right for you.
When looking, keep in mind how many passengers you plan to carry, if any, on a regular basis.
Cargo space is also important, especially if you're planning to carry something.
Other considerations include vehicle quality, gas mileage, and typical maintenance costs.
- Functions: When looking for vehicles, pay attention to reviews on the Internet. Vehicle reviews can alert you to any potential problems a vehicle may have, including poor safety ratings, fuel economy, and reliability.
Step 2: Find the real market value. Then, after choosing the make and model of the car, check the real market value.
Some sites where you can find the real market value of a car include Kelley Blue Book, Edmunds.com and AuroTrader.com.
If the car you are interested in does not fit your price range, look for a different make and model of car. Another option is to find an older version of the car you want of the same model year, if available.
Step 3: Car search. Once you know how much the car costs and if you can afford it, start looking for car dealerships in your area.
You can do this online through the dealer's website or in your local newspaper through the used car ads.
- FunctionsA: In addition, you need to write down what other dealers are asking for the vehicle you are interested in. This can be used as a bargaining chip when negotiating a lower price for the car you want to buy if other dealers are selling it for less. .
Step 4: Run Vehicle History. The next step involves performing a vehicle history search on the vehicles you are interested in.
Luckily, many car dealerships offer a free online vehicle history report for all of their vehicles.
If for some reason you need to do a vehicle history search yourself, visit sites such as Carfax or AutoCheck. Although there is a fee, you'd better make sure you know everything about the vehicle before you buy it.
Part 3 of 3: visiting dealerships
Once you've found a few cars you're interested in buying, it's time to visit dealerships to take a look at the cars, take them for a test drive, and have them checked by a mechanic. Just be prepared for the usual sales tactics that dealership salespeople use and keep in mind that you don't have to buy and you can always look elsewhere.
Step 1: Inspect the car. Take a close look at the car, inspect it for damage or obvious problems that you will need to look into if you buy it, such as putting on new tires.
Check the exterior for dents or other signs of accident damage. Make sure all windows are in good condition. Also, look for any rust spots.
Examine the interior of the car. Look at the condition of the carpeting and seats to make sure they show no signs of water damage.
Turn on the engine and listen to how it sounds. You are trying to check if the engine starts and runs smoothly.
Open the hood and look at the engine. Pay attention to its condition, look for any signs of leaks.
Step 2: Take it for a test drive. While the car is running, take it for a test drive.
Watch how it handles turns and climbs, as well as frequent stops.
Check that all signals are working properly, as well as the headlights and taillights.
- Functions: During a test drive, have an experienced mechanic come and inspect the vehicle to make sure everything is in proper working order.
Step 3: Complete the paperwork. Now that you've tested the car and are happy with it, it's time to agree on a price, set up financing, and sign the necessary paperwork.
You should also ask about any extended warranties to protect your investment.
If you have been pre-approved for financing, you will still need lender approval before you can purchase a vehicle. Some lenders have limits on the mileage or age of any vehicle they finance.
If you're buying a car straight away, make sure the dealer has your home address in order to get the title in the mail. Otherwise, ownership passes to the creditor until the vehicle is paid.
Last but not least, you need to read and sign the bill of sale. Then, once the dealer has given you a few timestamps and given you the keys, the car is completely yours.
Buying your first car is a special event. That's why it's so important to choose a car that's right for your needs, whether you're planning on hauling a car full of people or driving mostly solo. You can find the right car for the right price if you know what to look for. However, before purchasing any vehicle, ask one of our experienced mechanics to perform a pre-purchase inspection of the vehicle.
