How to Buy Your First New or Used Car
Purchasing a first car, new or used is one of many exciting firsts. Less exciting are the responsibilities and expenses that accompany the purchase, items like insurance, repairs, maintenance, fuel and taxes. However, there are a few strategies you can follow to make their first car-buying experience as smooth as possible.
You must first establish a budget that includes a down payment and affordable monthly payments for the car and insurance. Factor in the costs of fuel and maintenance as well. This will allow you to eliminate vehicles that are too expensive and devote your time to affordable ones. You can save money by buying used, because cars depreciate by half their value in the first five years. Recent-model used cars can be equipped with many safety features and will likely return many more years of dependable service. If your credit score isn’t great, a parent can cosign the loan and keep your interest rate low.
When you come up with your list of candidates, arrange to test drive the highest-rated ones. Mitsubishi vehicles consistently earn high ratings and are attractively priced. When you speak to a salesperson to nail down the price, make sure you include all the features and options you want and the discounts available. Look for cars that include antilock brakes, electronic stability control and side airbags. Features like a backup camera and forward collision warning are welcome.
Buying a used car from an individual is risky, and unless you are very experienced, stick to established car dealerships. Good dealerships like ours will offer very competitive financing, but you can always arrange your own at a bank or credit union.
We invite you to stop by our Mitsubishi dealership to check out our inventory of quality new and used cars. One is sure to be the perfect first car for you, so visit us today!