How to Buy Your First Car

You've been eagerly waiting the day when you could finally go out and buy your first car. You may wonder how to begin and how to go about getting your first set of freedom wheels. There are so many questions you should ask yourself: Should I buy from a private seller or dealer? What options are there? Do I have enough money?

The first thing you may want to decide on is what type, model, and year of car you want. Do your research! Search the internet and read car books and magazines to find out more about the different types of cars out there and what each type offers (Safety Features, MPG, etc). Walking onto a car lot just to look at the cars they have encourages impulse shopping and may result in you buying a car you really don't want. If you have your ideal car narrowed down to its model, make, and year, your job of finding a car will be a lot easier and will prevent unnecessary car lot wandering.

For me, I had my car narrowed down to a Ford Mustang Convertible, between the years of 1999-2004; I also insisted on having a leather interior. By having my ideal car narrowed down so much, I was able to do my research around what I would be paying and what the advantages and disadvantages to getting that model of car were.

If you've gotten your car choice narrowed down, the second thing to consider is how you're going to pay for the car. Perhaps you have just the right amount of pennies saved in your bank account, or maybe you've been looking at leasing and financing options. If you lease a vehicle, you're technically not buying the car and the dealer retains ownership, it's more like an extended rental. At the end of the lease term, usually 24 to 48 months, you'll be given the option to buy the car or return it to the dealer. Keep in mind that returning the car to the dealer may result in extra fees if you've put more than the indicated limit of miles on it or caused any damage that requires repairs. If you plan on putting more than 10,000 to 15,000 miles on the car, then leasing may not be the best option for you. Make sure that the car you choose is one you can afford, whether it's making payments on time, paying for its gas, or just simply buying one outright.

Shopping for the car is your next step. If you're looking to buy a used or 'pre-owned' car, Craigslist is a great place to check, dealers and private sellers list hundreds of cars there each day. Searching car buyer magazines and classified ads are also great ways to find a great deal on your ideal car. Make sure that you don't overpay, search Kelly Blue Book, and compare prices from other sellers. Buying a used car from a dealer and paying for it with cash can usually get you a better deal, don't be afraid to negotiate.

Maybe you want a brand new car as your first car; you love that new car smell and the love way they drive. Visit a dealership to learn about the options they have available for you, what warranty they offer and if they have any maintenance plans that include oil changes and tire rotations. Avoid walking into a dealership and choosing the first car you see. Make sure the car you choose is one that you'll be happy with for a while and one that is a good investment. Always take the car out for a test drive before signing your name on the dotted line, it may not drive how you were expecting, you don't want to be disappointed. Keep in mind, that the minute the car leaves the lot it looses at least 10% of its value immediately.

When buying a used car, ask the seller or dealer questions about the car's history, how many owners has it had, if it's been in any major accidents, has it been kept tuned and given regular oil changes, why it's being sold, etc. Always inspect a car before buying to make sure there are no problems with it that you aren't aware of. Bringing an experienced driver along such as a parent that will help you with choosing and inspecting potential cars. Experienced drivers may notice problems with the car that aren't so obvious to a new driver.