Excited to Buy Cars for the First Time?
Buying a car requires a significant investment – it’s the second most expensive purchase you’ll make next to buying a house. And for first-time car buyers, nothing feels more anxious and exciting than searching for the perfect vehicle. But hold your horses. There are a handful of things to keep in mind when buying a car for the first time. Here are 3 tips to consider before forking over your hard-earned money.
Consider a used or repossessed vehicle.
Consider buying a used or repossessed vehicle over a brand-new car if you’re working with a smaller budget. Most repossessed vehicles have low mileage, intact warranties, and fresh interiors like a brand-new car, but you’re only paying 30 percent to 50 percent off the MSRP.
Determine your budget and stick to it.
First-time car buyers tend to bite more than they can chew. When buying a car, always set a realistic budget before searching for a vehicle. Consider your monthly expenses and cost of living to determine how much you can actually spend on car payments. Maybe you want a big, bold, and shiny SUV, but do you really need a bigger car? The better question is: Can you afford it? Before thinking about buying a car, sort out your budget and stick to the plan. You’ll thank yourself in the end.
Cash or financing? Know your payment options.
You can buy in cash, but financing gives you more leverage when making an expensive purchase. However, take the time to figure out your financing options. Low monthly deals, zero down-payment offers, and longer financing terms may sound sweet at first, but you may end up paying more in the long run. When financing a vehicle, it’s better to make a higher down payment to reduce your monthly payments. And remember that low monthly and zero-down offers will usually come with higher interest rates.
I am one of the trusted car buyers in St. Louis, MO. For amazing deals, go to my website and check out the offers I have for my customers. Call me at (314) 675-5561 today! Fenton Auto Buyers LLC is here to provide you with quality services.