Shopping for a car for the first time can be a bit overwhelming. Thankfully, there are a few tips and tools you can use to help make the process much easier on you and your budget. Here we provide some of those tips to help you avoid any headaches while keeping the cost of owning a car or truck as low as possible. Buying a vehicle, like any other significant financial decision, involves a lot of decisions. But making the right ones can help you save money along the way. Let’s take a look at some easy-to-follow tips to help you if you are a first-time car buyer.
If you’re just starting out on your own or have a limited budget, you can save a lot of money when you buy a used car.
Too many first-time buyers go straight for a new car and end up spending a lot of money. If they can afford it, great. But if you’re pinching pennies, your best bet may be to go with a quality, pre-owned vehicle instead.
Cars are made much better than they used to be. They’re sturdier and hold up over the years compared to vehicles manufactured a few decades ago. Not to mention that insurance rates are often cheaper on used cars, so you’ll save money in more than one way.
Also, many cars and trucks come with significant warranties that may still be intact when you buy a used vehicle. And some dealers certify and inspect used cars before selling them to ensure the buyer is purchasing a vehicle that’s safe to operate.
Before you purchase a used vehicle, it’s crucial to know its history. The last thing you want is to buy a car or truck that is a lemon or has a long list of problems.
Avoid focusing on fancy additions. Instead, focus on something that is reliable and will safely get you to where you need to go. You don’t want to go through all the steps to getting a new vehicle only to find yourself stuck in a parking lot late at night with a car that won’t start.
When you buy a new or used vehicle, your costs are only just beginning. You also have to consider the cost to operate the vehicle. You will want to consider:
You can use a free tool like GasBuddy to help reduce your fuel costs. You can search for real-time gas prices in your area so that you can go to the gas station that offers the lowest prices. The app is free to download, so it’s easily accessible while you’re on the go.
Practicing safe driving habits can also help you reduce fuel costs. If you drive at a steady speed and avoid slamming on the brakes too much, you can reduce your vehicle’s fuel consumption.
When you shop for a car, it’s also a good idea to pay attention to its fuel economy rating to ensure you keep costs to a minimum.
A wide variety of factors go into calculating your insurance premiums. Some are out of your control like your age, marital status, or if you are a new driver. However, some factors are within your control, such as:
The best car maintenance tip is to not wait until something goes wrong. There are quite a few simple preventative steps that you can take to help your vehicle run well and avoid costly repair bills. Some of them you can even do by yourself.
Here are a few things you can do to help your vehicle stay in good condition:
If you’re buying a car for the first time, it’s good to know what to expect. Here’s what usually happens:
This process is usually more overwhelming if you have poor or no credit. Most dealerships and lenders will not be willing to work with you unless you have good or excellent credit.
But, thankfully, you have other options.
Drive Fox has helped hundreds of Canadians across the country with getting approved for a car loan. Regardless of your credit score, we can work with you to help you obtain financing and get the new car you desire.
Fill out our quick, free, and secure online form to get matched with a dealership who has the perfect car for your situation.
Click here to apply with Drive Fox and get started with the car buying process.