How To Buy Your First Car At 21

Buying a 30 000 car for a 16 year old just doesn t make sense.

How to buy your first car at 21. We have recommendations for the best used cars under 20 000 with many. Do a combination of both. Let s go through each option. Here are some important things to keep in mind as you start shopping for your first car. But if you plan to borrow money to buy your first car it s just as important to look around at financing options and take the proper legal steps to become a car owner.

Do a bit of research to figure out how much you want to pay for your car and what kind you d like to buy. It also needs to be well equipped reliable and safe. You might be tempted by those low monthly repayments but you could end refinancing that large repayment at the end if you don t have the money saved up when it comes. A telematics box will be required in order for drivers aged 18 21 to qualify for. A great first car needs to be cheap to buy and to run.

But dave doesn t recommend this. First it may seem tempting to just go out and buy a car for your teenager especially if you have the money. Let them pay for the car on their own. If this is your first car buying experience here are a few pointers to help you through the process. Owning a car can be expensive but if you plan well and learn to save it ll be easier to buy your first car.

When buying your first car you might spend hours researching different makes models dealerships and even colors of your potential vehicle. In general brand new cars can cost up to 30 000 while you can get a used car for a few thousand dollars. Buying a used car or giving a child a hand me down is the natural choice especially if college costs may be on the horizon. Planning ahead can help make the process easier and help ensure you end up with the best car for you.