Purchasing your first car is a big deal and it can be a hugely daunting experience, especially when you’re a becoming a driver for the very first time. With a massive list of things to contemplate and more often than not a relatively small budget to pay for it all with, it’s can be very effective doing a bit of planning and searching for as many different avenues as possible before you decide to buy anything. If you are wondering what you need to know before purchasing your very first car, read on.
New or used
Cars start to decrease in value almost immediately (more than likely as they leave the showroom). After about three years on the road a second-hand car is normally worth 30-40% of the original price. So it’s probably a clever idea to let someone else take that financial hit and buy a used car. There are, of course, advantages of purchasing new, though, such as the reassurance of the manufacturer’s warranty, which will cover the cost of any faults that may happen in the first few years.
Unless you have enough funds to buy a car outright, there’s also the cost of car finance to consider. This is when a new car, purchased on a competitive finance deal, can be less expensive than it first seems.
Make and model
Without question, one of the most important things to think about is what exactly you’re going to use your car for. Do you simply need to get from A to B? If so, you might want to think about getting a small car with a small engine. Or are you going to need it for regular long journeys? If so, you could buy with a car with a good fuel economy and a bigger engine, especially if you want to use it on motorways.
Will you be filling it up with shopping, sports equipment or other big items? Bigger trunks should be at the absolute of your priorities. Do you need to accommodate a family? Look at models that are going to keep the kids comfortable.
Budget
Budgeting really is the most important thing that you will have to think about when you want to run a car as a young driver, you can create a nice list of all of the ideal cars or ideal extras you might want but if you don’t have the money to pay for it then what the point! Sit down and figure out what you can afford as far as buying the actual car as this will be your biggest outgoing. You can get a great first car for under £2000 if you shop about so you don’t need to break the bank for it (even if £2000 seems a lot, it really isn’t in car terms, cars can sometimes cost more than the deposit for a house).
