Our first car is something we remember all our lives. It won’t necessarily be new and it will probably have a lot of small issues during its lifespan, but it is also the car that we will cherish the most, simply because of the newfound freedom that came with it.
However, it is important to take some precautions to prevent our first car from turning into a nightmare. We must ensure that it is safe and that it does not become a source of debt that will prevent us from carrying out projects in the future.
So here are some tips that will help you when the time comes to buy your first car.
Make sure the car is reliable
Generally, we do not have a huge budget when buying our first car, and often consumers are inclined to turn to the pre-owned vehicle market. It’s a good idea, but you have to remember to inspect any vehicle you are planning to buy before signing the sales contract. In doing so, you will avoid buying a vehicle that is unreliable and cost a lot of money down the road. Often, it pays to pay a little more for the purchase and then save on maintenance costs and repairs.
“There are pre-owned vehicles that are reliable and safe, and they will be for a long time. But there are also models that are less reliable, and often the first-time buyer will skip the inspection stage because they are in a rush to get that first car. We have to be patient when we buy our first vehicle, “says a pre-owned vehicle representative at Erin Park Toyota.
Yes, it’s better to pay a little more for a better vehicle, but you also have to remember that a car, regardless of the quality of the model, results in additional fuel, insurance, registrations and maintenance costs. So we have to carefully calculate our budget before buying our first vehicle and leave about 50% of the amount we want to allocate towards the purchase of our vehicle aside in order to cover the additional expenses. Your first vehicle should not become a source of debt that is too heavy to bear.
Plan your needs
If you are buying your first vehicle, it is likely that you are young and that your transportation needs will change over the next few years. It is important to choose a vehicle that will be able to evolve with your needs because replacing your vehicle when its value is less than the amount of your loan is never recommended.