Buying Your First Car? Things to Know Before You Take the Plunge

The journey between planning to buy a car and owning the one evokes a wide range of emotions in the first time buyers. On the one hand, the first time buyers get dreamy when they envision themselves driving a swanky car. On the other hand, they look confused over whether they should buy a new car or go for a used one. They have butterflies in their stomach whenever they browse through the automotive websites and see the unbelievable prices.

All these emotions make buying your first car a unique and unforgettable experience. You will definitely rejoice these emotions when you will go on a ride remembering the days which went into anxious planning.

These emotions are good as you will later realize, but there is a flip side to this journey. The first time buyers need to always keep in mind that buying a car is not all about emotions. It involves a lot of calculation and practical research. If your calculations are wrong and you mess up with your research, goof-ups are bound to happen. You may regret your decision for years to come.

Here are a few tips you can use to avoid the most common mistakes and to make the experience of buying your first car truly rejoicing –

Used Car versus New Car?

Confusion over this question is probably the most prevalent emotion in a first time buyer. Everyone wants to buy a new car, but you should ask yourself whether it is the right choice for you. The answer to this question may be tough, but it needs to be addressed properly. Several factors including your budget, your specific requirements and your expectations from a vehicle are involved when you take a decision.

It is better to understand the advantages and disadvantages associated with a new car and a used one.

While a new car will come with the latest features introduced every now and then by the automobile industry and will really make you feel good when you drive it around, it will be quite expensive compared to a used car.

In case, you buy a new car, you will have a wide range of options to choose from. On the other hand, your choices may be limited when you buy a used car. A warranty and several other securities are offered when you buy a new car, but the used ones usually come with no such assurances.

Car is a depreciating item, so as soon as you drive it out of a showroom, its value will go down tremendously. Within two or three years, you better not hope to get more than half the price if you decide to sell it.

The used cars will be cheaper and a viable option if you have budget constraints. The flip side is you will always have a nagging feeling that you are driving a car which was earlier owned by somebody else.

Budget

New car or used one? This model or that one? SUV or sedan? Your budget will help you decide most of these things. If you have decided that you will go for a new car, you can further zero in on the car’s segment and the brand by determining how much you can spend. It will help you decide the right car from the segment best suited for you. If you have a brand close to your heart, you can go for it only when your budget allows this.