A Quick Guide to Buying Your First Car

A Quick Guide to Buying Your First Car
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Getting your first car is a significant milestone in your life. It’s a big purchase, one that you might have to deal with in the years to come. So before anything else, a “Congratulations!” is in order.

It’s only normal to feel nervous or want to cover all bases to make the best decision. It is your hard-earned money, after all. Making the right decision could provide you with a vehicle you can rely on for a long time.

You might feel a bit overwhelmed, or you might not know where to start. Don’t worry; we’ve written up a quick guide to help you through the process.

What Do You Need?

Before making the rest of your decisions, figure out what you need in a car. You’re buying one for a purpose, which will become your framework when choosing which car to buy. 

How often are you planning on driving? What’s the road condition in your area like? Will you be mainly transporting people or things and equipment?

Even if you haven’t decided on a specific brand or make yet, this can narrow down your prospects immensely. Asking yourself these questions will help you get a pretty good picture of a car that would suit you.

If you’re planning on taking many passengers, you could get an MPV or an SUV. If you’re more concerned with transporting cargo, a pickup could give you the space you need. If you’re an outdoorsy type, offroading might pique your interest.

Set a Budget

A critical factor in your buying decision would be your budget. It’s one thing to pick a car that suits your needs and preferences. The challenge is finding the perfect vehicle that fits your budget as well.

If you’re like most people with no huge inheritance, you might have to take out a loan to pay for your car. You’ll then have to consider your monthly payments plus interest.

Aside from your down payment and installments, you have to account for other costs, too. Cars need fuel, regular maintenance, and possible repairs. 

Toronto, like all other Canadian provinces, requires car owners to get auto insurance. This should be something you think of in advance before getting a car. Insurance companies will often consider your car’s make when calculating your premium

New or Used?

Your answer to this question will most likely depend on your budget. Both new and used cars do have their pros and cons, which you will have to weigh.

If you go for a new car, you’ll get the guarantee of a vehicle in mint condition. You won’t have to spend too much on maintenance. 

The manufacturer’s warranty usually covers most repairs. It’s also more likely that you’ll find a new car with newer safety features and is more fuel-efficient.

However, new cars immediately start losing market value once you drive them off the lot. On average, your car’s value will decrease by 20% to 30% in its first year. In five years, your vehicle will have lost 60% of its initial value. This is something you look into, especially if you’re planning to sell your car in the future.

Used cars are affordable to buy upfront since they have already gone through depreciation. This is also why they are a popular choice for first-time drivers or owners. Vehicle inspections in Dubai can save you a lot of money and help you get the best deal when buying a second-hand car.

Finding modern features won’t be as easy as when buying a new vehicle, so you must be smart when buying a used one. If you carefully consider your choices, it’s possible to find a car with great value. You can easily find reliable Mazda cars or other models in most dealerships. You’ll also have more diverse choices since they aren’t limited to the latest models.

But of course, it is easier to find a sub-par vehicle when buying used cars. If you haven’t done enough research, you could end up buying a car you regret. Most used vehicles also need more frequent maintenance and repairs. Unlike a new car, these won’t be under warranty.

Do a Test Drive

The test drive is an essential factor in the decision-making process. It is where you get to experience the car for yourself and how it feels.

During your test drive, you should assess the car’s functionality and performance. It shouldn’t make any strange noises or be uncomfortable to drive.

You could also assess how comfortable the car is or how it would fit your lifestyle. This can be by checking how much room you have or how well it drives on the roads you often travel.

A test drive is like a date with your potential car. Do you see a future with it? Would you like to have it around? Is it compatible with you and your lifestyle?

Seal the Deal

Once you’ve considered all factors and arrived at a decision, it’s time to sign the dotted line. You’ve overcome decision paralysis and bought your first car. Congratulations, and make the most out of your new vehicle.

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