Buying your first car is very exciting and if you’ve been planning what you want for ages then when it comes to it, and you’ve passed your test, you might think you can walk in and pick up the car of your dreams and drive away. However, buying a car is a big purchase, and it does require some thought. You can start preparing while you’re learning to drive and if you’re ready to take your test, you can speed up the process by looking for driving test cancellations so you can jump the queue and get on the road as soon as you can.
There’s a lot of things to consider when buying a car and not just what it looks like and how much it costs. If this is something new to you and unless you have an interest in cars, then it’s likely that it will be, then you have to consider the engine size, safety ratings, and other measures of quality can be confusing. Then you have to find what you can afford, the local market and other personal factors.
Consider Buying A Used Car
While it’s very tempting to want a brand new car, a shiny one with all the latest technology and the top-spec in everything, this is very expensive and for your first car isn’t the best idea. A new car loses on average 11% of its value the moment you leave the dealership. Then every following year for the next five years, the car depreciates by 15% to 25%. And after five years, it will be worth just 37% of whatever you paid for it. If you opt for a new car, you can get one in excellent condition that has already undergone its arbitrary depreciation.
Set a Budget, Then Pick a Car
First of all, you need to work out how much you can afford and remember that it isn’t just about how much buying the car costs. There are other associated costs when it comes to owning a car that you need to consider such as the insurance – which is likely to be very high if you choose to buy a brand new vehicle, it will also depend on your age, your history and the car you have chosen. Then, of course, there is the fuel you need to run the car, how far are you going to be driving? How often and how big is your engine? Is the car fuel-efficient?
Only Get What You Need
Once you know your budget, you can then start to look at what you actually need. Do you need a little car for getting from A to B, or do you have kids and need plenty of seats and boot space. Make a list of your priorities in order of how important they are and then stick to it as you go looking around for cars.
Get Covered Before You Drive
You have to have insurance and getting this itself can be a nightmare. There are so many insurance providers all wanting you to choose them, but they don’t always offer the best deal. Comparison sites are a good place to start but beware; there’ll be people ringing you non-stop afterwards pestering you to seal the deal. Other providers choose not to put themselves on comparison sites, and while this might mean that you have to go looking for them and do a little more research on your own, it could be worth it.