Buying your first car is fun and exciting. It means freedom — the ability to get where you want to go, when you want to go there. It also means financing companies digging into your credit, worrying about monthly payments, and having to face upkeep and maintenance costs. Too many people dive right in without taking the proper steps to control costs and get the perfect car instead of the prettiest one. Here are important steps to take and tips for buying a first car so that you can get one that will be your best friend for many years into the future.
Buying a First Car with a Realistic Budget
You likely have a dream car that you’ve thought of for years. Unless you also have a dream job, you’re probably not ready to take that step yet. Know what you can afford on a monthly basis, and know that the more you can put down, the better chances you’ll have of getting a good finance rate when buying a first car.
Keep Strong Credit
Make sure your credit rating is strong. Monitor your annual credit report for mistakes and get them cleared up. While certainly you shouldn’t let credit problems hold you back, it’s true that the better your credit, the better your chances of getting a good loan will be.
Do Your Homework
With all of the resources available for car shoppers today, there is absolutely no excuse for not taking the time to do some research. Check out your ideal vehicle and then look at comparable ones. Check out car values at Kelley Blue Book and hit sites like Edmunds to look at vehicle reviews. You might even find that a similar vehicle by a different manufacturer is better for your needs.
Don’t jump at the first car that comes around. Shop around. See what other dealers in the area have the same vehicle and compare prices. The more options you explore, the better your chances of finding the best deal at the best value.
There’s Nothing Wrong with Used
Most first-time car buyers end up buying a used car and there’s nothing wrong with that. Used cars can even carry advantages over new ones. They’ve already got the bugs shaken out of them, and if you get one that’s only a few years old, not only can you save thousands on costs, but you may still have a couple years of factory warranty left! Used cars are definitely worth a thought.
Before you even negotiate a price, have financing in hand. You have a great deal of leverage by pursuing an auto loan before you start haggling price. The dealer can’t hold special deals and incentives over your head if you’ve got the cash in hand.
Of course, you’ll want a financing company with a legacy of service and quality that you can trust, and that’s where Blue Sky auto finance comes into the picture. Get in touch with us for more information, or just start your easy application for online approval today!