Buying your first car can be a very exciting adventure no matter your age but it can also be one of the most confusing things you can do. It’s not just about choosing the colour, you need to make sure you’ve thought of everything and if you’re not sure about cars in the most part, then this particular guide is definitely for you.
The most important thing to start with is your budget. Sounds obvious I know, but a lot of people forget a lot of the information to consider. A car is not just a one off purchase as there are things to think about like insurance, road tax, MOT, petrol, repairs. It’s a big commitment to buy a car, and there’s even more so if you decide to buy a car on finance rather than save the money and buy outright. When you consider all of those costs together, sit down and work out a budget so these costs fit around your everyday living expenses, right down to the electric and gas bills. Be sensible though, make sure you don’t use every penny. You’ll need to make sure you have extras so that you have leftovers for repairs!
When you consider running costs of a car, work out how often you’ll actually be using your car. Do you commute? Do you plan to use it just for shopping trips or visiting friends? Your insurance and petrol costs will depend on the running costs so this is a big consideration. We all want to buy brand new and shiny cars from the forecourt with zero mileage, but you’re going to save a whole lot of money by buying second hand. Cars depreciate as time goes on and the biggest depreciation comes from the first year so even a year old car will be a good model and save you a bundle of cash! You can buy cars with hire purchase options which allows you to take the car away from the showroom by leaving a deposit and you pay the remainder monthly. The trouble with this is that the car isn’t fully yours until you make that last payment and you won’t be able to sell or modify your car.
A lot of people like to make modifications to a car including things like new alloys, hubcaps and wheel spacers UK. None of these things will be available to you on a conditional purchase or a hire purchase. Should you choose to take out a personal loan on a car you will be able to do those things. The only thing you can’t do when it comes to buying a car online is test drive it and this is something you need to do before you buy a car. Taking a test drive doesn’t mean you’re tied into a purchase but it is worth doing it especially for second hand cars as it will give you a feel for whether or not the car will need some work.Read More