Tips On How To Buy Your First Car

Subtract all costs from your income.

Tips on how to buy your first car. Once you pass your test and get a driver s license you ll probably start thinking about buying your first car. If the owner or dealer doesn t want you to then walk away. You can always trade it in down the road bring a parent or friend along to act as the voice of reason he advises and don t buy anything on your first trip to the dealership. Before you venture out into any car dealerships take a look at our 8 tips you should know when you re buying your first car. On average a new car loses 11 of its value the moment you leave the lot.

This number and what s important to you. Your monthly car loan payment should be less than the resulting figure. You may also be able to get your credit score for free through your credit card provider. Here are their top tips when it comes to buying a car for the first time. Keeping your budget top of mind is one of the most important tips for how to buy a car within your means.

Every following year for the next 5 years the car depreciates by 15 to 25. Don t feel the pressure to buy the first car you see. Ideally a friend who knows more than you about buying a car. A good rule of thumb is to keep the purchase at or below 20 percent of your yearly salary. Take someone with you.

It might be tempting but shopping around and exploring your options will make sure that little thing called buyer s remorse doesn t happen to you. But you have to look at a car as a piece of metal says brian munroe author of car buying revealed. Be sure the engine is cold before you begin because an engine that has been warmed could be hiding problems. Buying your first car when you ve found the car or cars that you re interested in buying head to the dealership. When buying a car from a dealer davidson says many people start backwards by visiting the dealership.

Better credit may help get you a more favorable interest rate which in turn will affect your overall car buying budget. Important tips for buying your first car article. If you re satisfied with the above then the next stage of our first car buying guide is to take the car for a test drive. Strongly consider buying used. Know your credit score.