4 Things to Consider When You Purchase Your Very First Car

| December 22, 2017 | 0 Comments

Buying your first car

Buying your first car is a major milestone, and it often is one of the most significant purchases that you may make to date. You understandably want to buy a stylish car that you can be proud of, but there are many other things to consider as well.

Before you finalize your decision about which vehicle to buy, turn your attention to these important points.

The Cost of the Vehicle

The cost of the vehicle that you select will play a role in your down payment amount as well as in your monthly loan payment. You may need to get prequalified for a car loan in order to determine the maximum sales price that you can afford.

However, remember to review your budget so that you can set up an affordable monthly payment amount. A smart idea is to look for a gently used car with low miles from a place like Woody Sander Ford.

You may be able to save money and still get a stylish vehicle loaded with great features.

Fuel Economy

Your monthly loan payment is only one of several vehicle-related expenses to consider. Each vehicle that you may be looking at may have a different fuel economy rating.

This directly affects how much money it will cost you to drive the vehicle around regularly. Remember that some models are available with different types of engines, and this can affect fuel economy as well.

The Cost of Insurance

Before you finalize your buying decision, contact your auto insurance company to request a quote. You may even ask for a quote for coverage on two or three of the top models that you are seriously thinking about buying.

In some cases, premium amounts can vary substantially between models that are seemingly very similar.

Practical Features

Your vehicle may be your primary method of transportation for years to come, so it needs to be practical for all of your needs. Think about your need for specific features in the car.

You also need to consider passenger seating, storage space, towing capabilities and other features that may be important for how you plan to use the vehicle.

It may be helpful to shop for your first car with someone who has experience with this task, such as a parent or a friend. You may be tied to the vehicle that you buy for several years or more, so you want to make sure that you buy the right vehicle and that you get a great deal on it.

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