Save Money on Your First Car

 

gas, new cars, used cars, auto insurance, car buying, fuel, frugal living, saving money

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Save Money on Your First Car
Getting that first car is an important moment in a young person’s life, as it symbolizes freedom and independence. Once you are able to purchase your first car, you will no longer have to rely on your parents for transportation. Indeed, purchasing this new car has become one of the first steps into adulthood, making it very important to teenagers.

At the same time, however, a few things could quickly turn this into a negative situation, so it is vital that all first-time car buyers know what they are getting into so that they can save some money.


Research

Before selecting a car to view, research the make, model, and year for any problems that have arisen in the past. In some cases, it is possible to spot a pattern of issues with a particular car that you will want to avoid. For example, if you see that multiple 2000 Ford Taurus’ cars have ended up with engine failure after 12 years on the road, purchasing that type of car 12 years later is not a good idea.

Budget

Planning a budget is also necessary, since young buyers generally have less money to spend. Set a budget and stick to it, even if you are only browsing through potential cars. That way, you are not tempted to spend more than you can afford. Car salespeople are great at convincing young people to spend more than they can afford, so stay away from cars that are too expensive.

Get an Inspection

The first thing to remember is that any used car must be inspected before it is purchased. While taking the car to a mechanic before agreeing to purchase it will cost some money, it can also be a money-saving endeavour in the long run if there is something wrong with the vehicle. There are many cases where a seller will fix a car up just enough to sell it, knowing full well that a number of things are wrong with it. Young people who are buying their first cars are especially susceptible to this kind of fraud, which is why it is vital that you have the car looked at by an expert before making the purchase.

Remember Fuel Costs

Another thing to consider is the cost of fuel; the vehicle becomes useless if you cannot afford to put fuel into it. A small vehicle, like a used Suzuki Swift, will save you thousands of pounds per year on fuel when compared to a much larger vehicle. Money that is not spent on fuel is free to be spent on anything else that you want, making efficiency something to consider before making a purchase.

Making a Decision

Use all of the information that you have gathered before making a final decision. If you research and buy carefully, you are much more likely to save money on your purchase. You are also less likely to end up purchasing a vehicle that will break down soon after you buy it.

How about you all? In what ways do you save money when purchasing a car? Do you negotiate the price very much?

Share your experiences by commenting below!

***Photo courtesy of http://www.flickr.com/photos/gareth1953/5159348513/sizes/l/in/photostream/

Comments

  1. Shannon-ReadyForZero says:

    I’ve heard that you can check carfax.com to find out information on the car that the dealer may not be telling you. I’ve never done it myself but it could be a good thing to try in addition the the tips you mentioned.

    • Thanks for reading Shannon. I have heard that too, but haven't yet bought a used car, so haven't used Carfax.com either.

      Any one else out there had good luck using carfax?
      My recent post The Pros and Cons of a Down Payment Assistance Program

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