How To Buy Your First Car

Buying your first car can be exciting, interesting and wonderful but before you start this adventure, there are certain things you need to know. First of all, you need to assess how much money you can spend on a car.

Think about the cost of buying a car. The cost of a car includes the price of the car, cost of insurance, the title and registering the car. It is important to not purchase a car if you are unable to maintain it in a functional and good way.

Then, give thought to what kind of car you want to buy. Maybe you’re looking for a sports car, or a van, or a small, economical car, or a new or used car. What kind of car will fit your needs best? If you’re a student and need to travel to school or a job, you may want a car with good gas mileage. If you’re already employed and live near your work, perhaps you may want a bigger car but one with good mileage.

When beginning the search for your new car be sure to check out several dealerships. Look in your local paper and in most cases you will find sales; sales that might be profitable. Also, consider a private sale. This information can also be found in your local newspaper.

Once you have found the car of your dreams, ask for a vehicle history report. While doing this find out if the vehicle has been in an accident or has undergone odometer alterations. But no matter what you do, find someone to go with you; someone who has some experience buying a car. Their knowledge will help you greatly and give you additional confidence when going through this process.

When you have decided that you have found the perfect car, your next step is paperwork. It is important to take time to look over the paperwork well, especially the concerns with the title, the warranty and the Bill of Sale. The Bill of Sale should have within it vehicle information, concise contact information and of course, the selling price. Keep in mind the “as is” words. This means that you’re agreeing to buy the car in the condition it is in. Once you have paid for the car, it is yours. Make sure that during the signing of the process, that you understand everything in the documents.

If you’re interested in buying a used car, here are some things to keep in mind:

• Have a mechanic—preferably someone you know and trust—put the car on a lift and have it fully inspected. This should be done to check for any damage that may have occurred due to an accident or damage from a flood.
• Get a full history of the car from CARFAX.com. In this report you will find out the previous owners, any failed inspections, if someone tampered with the odometer reading and if the car was stolen, recalled or salvaged.
• Be sure to not sign an “As is” statement. Always take time to read all papers presented to you before signing any documents because once you have signed the documents—especially the “As is” statement, then once you drive the car off the lot, any problems that occur will be up to you.
• Most importantly, have in place your financing and/or loan approvals ready before you buy the car.
• Last but not least, by being prepared and reading information about the “car buying process” you will be successful and satisfied in buying your first new car.