Whether you just got your driver’s license or having your driving your family car for years, the feeling of buying your first car is super exciting. But, it also comes with some challenges. Since a car is a big purchase that requires a significant investment, you need to think about it in every aspect before you sign the papers.
When you’re sitting inside your new car, you should feel relaxed and safe. Your vehicle will be the new place with many of your memories, from road trips to solo concerts and more. You will likely spend a lot of time on it, so your time will be worthwhile if you do your research beforehand.
If you want to avoid sitting in uncomfortable seats or deal with a lousy sound system, find out everything about your purchase. Here are some things you can do to prepare.
Do Your Research from A-Z
If you know what kind of car you want to buy, visit the manufacturer or local dealership website. For example, if you are interested in Mazda cars, go to yorkdaledufferinmazda.ca and check out their options. Their website provides special offers and details about both new and used inventory. Having that option will enable you to choose that better suits your financial status.
You must go above and beyond to do your research, especially if it is a significant monetary investment. If you go into the store with enough knowledge beforehand, whatever information the salesperson provides will benefit you.
Talk to a Specialist
When you visit a dealership, an expert will guide you through the process. Their job goes beyond just trying to sell an item. They will answer your questions and will be able to help you find the right fit. Talk to them about what you’re looking for and what your budget is. They will most likely be able to inform you if they have something that matches your requirements.
Don’t hesitate to show all your concerns, mainly because this is your first car and everything you find out is valuable knowledge.
Identify Wants vs Needs
You might want a vehicle that has a red interior, is super-fast, and has features that aren’t a necessity. However, you must think about whether or not you need all of that for your first car. If you are going to use the vehicle for work purposes only, do you need to focus on horsepower over everything else?
If you have a big budget and know that affordability is not an issue, go for whatever you need. But if you have any constraints or doubts, create a list of your wants and needs. Maybe you need a car with good gas mileage because of your commute duration. Or perhaps the size of the car is a big deal because you have many family members.
Before you finalize a vehicle, figure out which features are a priority to you. If you want them all, then go for it. If you want to save some money and cut back on a few less critical functions, then you can do that too.
Create a Practical Budget
When you’re in the middle of such an exciting process, everything might seem like a blur. It may become tough to focus on a realistic budget. Think about how much you can spend on fuel. If you have a strict limit, then you might have to choose your car based on that.
Include all costs in the budget, such as your monthly car payments (if you finance), insurance, fuel, and maintenance. If you found a particular car and created the budget based on it and the numbers don’t stress you out, then that might be the one for you.
Also, think about the government’s budget process since certain luxury purchases can affect your tax levels based on which year you buy the car.
Secure Financing Process
It’s not easy to walk into a store and pay for a vehicle with cash. If you have been saving up for a while, it may be possible. But if you plan on financing a car by taking a loan, figure out how much you can get and what your interest rate will be when you pay it off. Compare offers from different financial institutions and choose the one that gives you the best rate that benefits your wallet.
Don’t Forget Warranty
Amid all the excitement, you might forget about the warranty, which is an essential aspect of a car purchase. Not all cars will have the same warranty on them since there is a difference based on whether they are old or new. Either way, you would need to be aware of the offers.
If there is no warranty on the vehicle you will buy, you will have to predict potential maintenance costs and include that in your budget. So, your prices can vary depending on the warranty your dealership offers. There may even be options to add on a warranty at an extra cost.
Think About Insurance
Imagine getting into an accident with your new car! Even if the damages are minor, not having insurance will cost you. Car insurance will protect you from potential costs of damage to your vehicle during at-fault accidents or even other mishaps such as falling objects in a public setting.
Even though you will get the insurance after purchasing your new car, it is essential to think about it beforehand. Your monthly premium will depend on what kind of car you have, so you should keep that in mind before finalizing a vehicle.
Take a Test Drive
The second most exciting part of the process, taking a test drive! You won’t know if the car is the right fit for you if you don’t take it out for a spin. Drive around, get familiar with features, and imagine yourself in it. Do you see yourself driving that vehicle every day? Is the sound system good enough as per your needs? There are a lot of things you will find out about your preference once you take a test drive.
Seal the Deal
The final and most thrilling step of the process is sealing the deal. Once you have all your queries answered, sign the papers and get ready to start your new road adventures!