Being a first-time car buyer means having a lot of enthusiasm and responsibilities. The idea of driving yourself around and being able to go wherever you want is exciting, but as a new buyer, it is important to remain keen. While it might not seem obvious, there are certain things that anyone looking to buy their first car has to consider beforehand.
We have provided this article with actionable tips to help you and other first-time auto buyers in Vancouver navigate the car market. Whether you want to get a new or used car, following these tips will help you get the best deal and avoid falling prey to scams targeting novice buyers.
This comes as the first tip on the list since most people forget to analyze what they need their car for. While it might seem like a good thing to have or buy a car, if this purchase is not providing you with the necessary service, it is a waste of money. Do not fall into the trap of assuming you need a car without necessarily going over the pros and cons.
Having a clear understanding of your needs before going to the dealership will help you picture the type of car that perfectly suits these needs. If you are a college student looking for a car to commute to school but do not have a regular income, it is a good idea to go with a cheaper car to finance. This will save you both time and money as you are going to the dealership.
While this can be tied to the first tip, doing extensive research holds a lot of weight in the car buying process. This process will help you determine the type of car that rightly suits your needs and gives you the different price ranges of your potential car.
This research will also help you to establish the specific budget you’ll need for the particular car you are looking to buy. Your budget should include the cost of maintenance, insurance, and even payment, especially if you are financing the car.
Once you have found the car that you are looking to buy, you must take it for a test drive. Although this should be a no-brainer, many people fail to do it, causing them problems once they have signed the contract.
On the test drive, find out if the car has blindspot monitors that can allow you to navigate when you can’t see parts of the way. Also, test the handling to ensure the car can take sharp turns. Other things that should be tested are the gears, breaks, safety belts, packing assistants, the multimedia player, and the AC.
Getting a certified mechanic that you trust to perform a car inspection before buying the car will pay off in the long run. Let them check for any damages that can’t be easily noticed as well as any faults that can lead to a breakdown after you’ve bought the car.
Similarly, you should perform a VIN check to establish the correct owner of the car. You should also insist on getting the vehicle history report that shows any accidents or cases that the car has been involved in.
Since most first-time car buyers are recent grads or high school students with limited cash flow to buy the car, financing usually comes to their rescue. Before heading to the dealership, make sure you have checked your credit score. This allows you to know if you can get financing and when the score is insufficient, get a co-signer who can make up for the low credit.
Recent grads and first responders are subject to special programs that allow them to get the car without the credit so, make sure you research that earlier on.
Due to the excitement that first-time car buyers exhibit at the dealership, most people fail to read the contracts carefully before signing. This is a fatal mistake that can come back to haunt you. As a rule of thumb, it is advisable to have someone else with you to help you finalize the paperwork and read through the whole contract before signing.
Going over the contract is important since car salespeople may take advantage of naive buyers by including unnecessary fees inside the contract. Unless the contract is well-read and understood, the buyer usually pays fees that could have been avoided.
Once you have closed the deal and you are off to enjoy your car, keep in mind the new responsibilities you’ve placed on yourself. Ensure you make consistent payments for both the car and the insurance and keep it well maintained for a smooth drive always.
Subscribe to our mailing list to receives daily updates!
Disclaimer: The information provided on the website is only for informational purposes and is not intended to, constitute legal advice, instead of all information, content, and other available materials.