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Your first car-buying guide

Published: 2/23/2023
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Buying your first car is an exciting milestone, and it can also be a daunting task. Whether you're a recent graduate or just starting your career, getting your own vehicle can open up new opportunities and provide you with a sense of independence. However, with so many options available, it can be challenging to know where to begin. In this guide, we'll go through the steps you should take to make your first car purchase as smooth and stress-free as possible.

Determine your budget

The first step in buying a car is to determine how much you can afford to spend. This means looking at your finances and deciding what you can comfortably afford. The rule of thumb is that your monthly car payment should not exceed 15% of your net income. You should also consider the cost of petrol, maintenance, and other expenses related to car ownership.

Decide on the type of car you need

The second step in the car buying process is to determine what type of car is best for you. Consider your lifestyle and driving needs to determine what type of car suits you best. You may want a car with good petrol mileage if you commute long or frequently. You may need a car with plenty of seating and storage space if you have a family. Think about the most important features, such as safety, technology, or style.

Research cars

Once you know what type of car you need, it's time to do some research. We recommend you use IQ Cars to find the best options, where you can compare prices and features of different models. Don't be afraid to test drive a few cars to get a feel for how they handle and if they're comfortable for you. You can also consider buying from a dealership, which can provide you with a wider range of options, financing, and warranties.

Consider buying a used car

Buying a used car can be a great option if you're on a tight budget. However, make sure to do your research and buy from a reputable dealer. Look for cars with low mileage and a clean history report. Has a used car been inspected by a mechanic to ensure it's in good condition and has no hidden problems?

Negotiate the price

Don't be afraid to negotiate the price of the car, especially if you're buying a used car. Use your research to your advantage and point out any flaws or issues with the car that may warrant a lower price. Be prepared to walk away if you can't reach an agreement that you're comfortable with. You can also consider looking for special deals or promotions, which may be available during certain times of the year.

Complete the paperwork

Once you've negotiated the price and secured financing and insurance, it's time to complete the paperwork. Make sure you read and understand all the documents before you sign them, and ask any questions you have. Don't be afraid to take your time and double-check everything before you sign.

Buying your first car can be a bit overwhelming, but by following these steps, you can make sure you're making an informed decision and getting the best deal possible. Good luck, and happy driving!