First Time Car Buying Tips - DealerPinch Blog

Buying your first car is likely to be one of the most memorable experiences of your life. Not only because it is the first big investment you’ll be making but because it is the first purchase that can really alter your credit score. Unfortunately, many people go out and buy their first car not understanding exactly what they are getting themselves into. That is why it is so important to read up on some first time buying tips and get educated before you begin. The most essential thing any car buyer can do before purchasing a car is to do some research. Always remember that you should never rely on the seller to educate you about information regarding a vehicle, do research on your own.

The first thing to think about as a consumer is that there are several barriers to buying your first car. You most likely have a lack of credit history and insurance rates will be high if you are a teenager. This list of tips will help you overcome these barriers and gain a better understanding of what to expect and how to deal during your first car buying experience.

1. Approach the process carefully. Buying your first car is very exciting but don’t rush into it. Hasty decisions may put you in a bad situation later.
2. Understand that you’ll probably pay more than other buyers. Because this is your first car, you may not have built up enough credit or been insured before. These things add on to the amount you will be paying to operate your vehicle each month. Preparing yourself for how much you will be investing into a vehicle makes it a little easier to swallow.
3. Set a budget. Before making any kind of big investment, it is always imperative to set a budget for yourself. If you don’t do this step you may end up buying a car you cannot afford.
   • Know exactly what you are comfortable spending each month by breaking down your expenses. This will include how much you spend on rent, food, health insurance, etc. Make sure you are realistic so that you don’t find yourself in a financial hole later.
     • The remainder can be spent on expenses for a vehicle such as fuel, car insurance, possible car maintenance, possible car payments and any other unexpected expenses associated with owning a vehicle.
4. Figure out financing before walking into a dealership. Pay a visit to your local bank or credit union and figure out what kind of financing you can get through them. This may be difficult if you don’t already have credit established but having a co-signer is something that you can look into.
5. You don’t have to spend a lot of money to get a great car. If you’re smart about your research, you’ll find that there are simpler options for cars that make them easier to afford. Thereby, making them easier for you to own.
6. Find a good dealership. You want to get in touch with a dealership that has good reviews and who have a staff that is willing to assist you rather than spend their time negotiating with you. There are also several online car-buying companies that are very helpful. One suggested company is DealerPinch.com.
7. Take a test drive. The test drive helps you make a decision about whether or not the vehicle is something you’ll enjoy driving every day. This is an important step in the new car buying process but even more important for a used car buying process. Testing driving may help you notice anything that may be wrong with the car.
8. Never buy a car on your first trip to the dealer. Always keep your options open. Since you shouldn’t be rushing this process, you shouldn’t be rushing to drive away in a vehicle the same day you see it. Buyer’s remorse happens with first time buyers more often than not. Taking your time will prevent this negative feeling.
9. Have the car checked by a mechanic. Whether you are buying a new or a used vehicle, it is handy to have a mechanic check out your potential buy before you purchase it. They may be able to spot possible problems on a vehicle you may not have otherwise noticed.
10. Come to an agreement on the purchasing price. Once you’ve decided on a car, negotiate for a price that you can afford as laid out in the budget you have already created. As mentioned before, there are several online car-buying companies like DealerPinch.com where you can purchase you new vehicle. With this company you can log onto the website and name the price that you want to pay for the vehicle you want rather than negotiating with a salesperson. This might be an easier option for a first time car buyer.
11. Enjoy your first car buying experience. You’re never going to be able to purchase a vehicle for the first time ever again, so enjoy it and learn from it.

Buying your first car is one of the most exciting milestones in your life. Doing your homework and getting educated about different options will prepare you for the investment that you are about to make. Get prepared ahead of time and decide whether to buy a car through a dealership, through a private party but don’t leave out the opportunity to implement DealerPinch.com’s innovative process! Now get out there, get educated and become an official first time car buyer!

Dealer Pinch, Inc

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