The First Car Purchase – Decisions, Decisions
Buying the first car could well be an experience of a lifetime for most if not all! – the age at which the first car is bought in the present day scenario could well be that of a student in college – not amazingly this comes with an abundance of aspirations and limitations alike!
The dual concept being that a student procuring the first buy – the first car – would well be invincible to hurdles and want the dream wheels of all times – replete with power and styling and being unique on the road – the reality could well be otherwise! – to illustrate the case in point – the finances may not allow – considering that buying the first car comes with indirect expenses which could well not have been anticipated or provided for – to illustrate – the cost of gas which may need to be factored in – in addition to the cost of new tires or even a new battery. The finances would need to be procured and arranged and the cost of insurance which is evidently a mandatory expense!
The business or financial rationale for buying your first car – more so should you be in high school or college at the time of doing so – plan the repayment period well! – to illustrate the ideal repayment period for the car should be forty eight months. The model and make need to address the cost issue strongly and the model and make could well be compromised but never the costing at this juncture in life!
The cardinal as always being to ensure that the car owned is not worth less than what you are spending for it – evidently the setback would hurt while trading in the car for another at a later time. The equation is logical and not impulsive – concurrently the buy needs to be as logical if not more so with little room for emotions when it comes to features and make – the budget would need to be controlled at all times.
THE NEW AND THE USED
The battle for the new or the old would invariably rage for extended periods of time and regardless of the financial state and credit history – aspirations would invariably be to buy a new car. A dependable make of a used car would well address the needs – more so of the first time buyers and it could well be better to compromise on the age of the car rather than translate the buy into a nightmare!
THE CRITICAL DECISION
The decision to buy and finally to buy the old or the new are invariably the most critical of decisions and once made cannot be undone – once the deal is done there is no going back – when buying your first car – ensure that the decision is arrived at critically and keeping the options in the correct perspective at all times!
The barriers to first time buys could well be numerous but can be circumnavigated with some effort and plenty of caution:
The used car dealer may well give the first time buyer a poor deal which is best addressed by self educating using multiple modalities like peer car owners and alternative car dealers in the vicinity
The insurance rates on cars for teenagers and the unmarried could well be much steeper as compared to others making the same buy far more expensive!
The absence of a creditable credit history could well be the biggest of all limitations for the aspiring first time buyer.
The first time buy of a car – be it used or new is challenging and the results enticing!