Everyone’s talking about drivers who have a lot of experience, have owned many cars and already have a few stories to tell their grandchildren, but few actually focus on the inexperienced, first time car buyers, auto title loans, as a fast and easy way to get cash using your car title instead of your credit score. Why? Because nowadays people tend to own car at very young ages and when they’re in their middle 20s they have already owned more than 2 cars.
Even so, there are some tips that every first car buyers should take into account when purchasing the car of their dreams. I remember when I bought my first car: I had a lot of trouble with it in time but at that moment it felt like Cinderella’s pumpkin turned into a BMW. Here is what I would have liked to know:
5 of the Best Tips for First Car Buyers
1. What you need vs. what you want – do you really need that mini convertible you had your eye on? Or that bitchin’ van your friends showed you last night after coming back from a heavy night of drinking? In case you are part of the cast of “Legally Blonde” or Monica and Phoebe in “Friends” you should ditch both options. If you plan to use your car on a day-to-day basis find one that doesn’t have a high fuel consumption, can be parked even in the tiniest places and doesn’t require an expensive insurance.
2. Expenses grow – in the case of the teens who want a car and they want it know, this is an important problem. Here is a tip from experts: if you can’t put down at least 20% on the car, don’t buy it. If you cannot buy your car in 48 months, forget about it. Buy something that you can afford because on the long term you will end up paying more than the actual price of the car. And keep in mind that buying a car is just the beginning of your expenses!
3. Do research – it has never been easier to do research with the amount of information that you can find online at this moment. You can find new and used cars or the cheaper alternatives to the expensive pieces you want. Stop and digest the possibilities or ask someone whom you trust.
4. Test drive – few many things are being told about the test drive. It’s like people don’t even realize its importance anymore. You will be driving this car for a long time so it is important to feel good behind the wheel. This means that you have to test seat height, steering feel, wheel adjustment, visibility, etc. So you need to start driving my friend. Take the car for a spin at least 30 minutes and try all its assets. This will save your from buying a car that you will end up hating after a week.
5. Financing your car – few people can actually buy their first car with cash. Especially if we are talking about teens. In this case you will need a co-signor who has a credit history and a salary history. This type of species is also known under the name of adults. You can check the credit score and it is very important to get above 680 for good terms. Another idea would be getting a loan from a bank. But in this case keep in mind that you have to understand exactly the terms of the loan, assure yourself that you can pay back the loan without ruining yourself and don’t get loans for more than 48 months.
Follow these tips and you will manage to get a car that will help you build incredible memories!