Buying your first car can be tricky. There are many questions that we often grapple with when it comes to our first-ever four-wheeler. The whole process of purchasing your first ride can be thrilling but also a bit scary. Given the satisfaction you get when you cruise around sitting on the driver’s seat of your own car, all the pain and effort is worth it in the end.
So, no more carpools and slogging in public transport, it’s time for your first ever car. Here are some important things to keep in mind before you get your beauty home. Read on to know more!
1. Assess Your Needs Carefully
You must always buy a car that suits your lifestyle. Buying an SUV when you have a small parking space and have to struggle through narrow roads to get to work is probably a bad idea. Make sure to think about what you need and for what purpose. This will clear the haze in your head and make it easier to look for appropriate vehicles.
2. Have A Reasonable Budget
You should always keep a reasonable budget in your mind and look for an automobile that won’t put you in a bind each month. It is important to ensure that you have sufficient funds to take care of your new car in terms of maintenance and repairs. No matter how swanky a luxury car looks, you must enjoy the ride without worrying about the next EMI payment.
3. Research, Research, Research
Once you know how much you can shell out, you must start exploring your options. Surf the internet as it gives you access to a variety of cars in your price range. Look at the specifications of each car, compare their mileage, maintenance costs, repair expenses, exterior, interiors and all other things that you want your car to have. Make sure you also look at the service centres in your city: you will need to go to them at least once a year.
4. Approach More Than One Dealer
You must never rely on only one dealer. Approach different dealers to know more about the car you’re eyeing. Look for good deals and discounts. Never commit to any dealer until you’ve met quite a few. Ask multiple dealers to quote you prices. Also, decide what’ll serve the purpose better, petrol or diesel. The on-road price varies from city to city and dealer to dealer. You can get a cheaper car if it’s a December 2017 made and you’re buying it in January 2018.
5. Arrange Your Finances
Check your savings and manage your credit score. Apply for a loan well in time if you need one. Check for EMIs if you wish to not pay the entire amount all at once. Commence your bank or credit union, then get quotes from other lenders to make sure you get the best interest rate.
6. Do Not Rush Into Making A Purchase
You may be highly tempted to pay the cheque once you have your finances in place, but you must never hurry when you’re buying your first-ever car. You must take catalogues from all dealers, go home and take your own sweet time to decide patiently. You should never buy a car under peer or societal pressure.
7. Ask People About Their Experiences
No one but people who own the cars and have driven it enough can give you an honest review of how good or bad it is. Once you’ve zeroed down on which car you’re keen on buying, ask neighbours and friends and learn from their experiences. Let them give you the real insights which will help you come to a decision.
8. Check For Resale Value
You will definitely want to upgrade after a few years and buy a bigger car. It’s best to know the resale value of the car you’re buying, which will help you finance the new purchase later. Usually, the cars with easily available spare parts are the ones that command a high resale value.
9. Take A Test Drive
You must have the first-hand experience of a car before you spend money to buy it. A test drive is a must to see how you feel in it and how it performs. Take test drives for all the cars that you’ve shortlisted. Look at their pick-up, how smooth they are to ride and how much do you enjoy riding it. Then compare all of them to come to a conclusion.
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