You’ll be eager to purchase your first car as soon as you pass your driving test. You’ll finally have the independence and freedom that come with being able to drive whenever and whenever you want, which may be an exciting time. But there are many things to think about when making such a large purchase.
We’ll look at how to choose your first car in the sections below.
Purchasing used goods
For a novice driver, new cars may not be a wise investment. In fact, the average new car loses between 40% and 65% of its value in the first three years. Your asset will be losing value quickly at this pace of depreciation, which can be difficult to afford. Frequently, buying used makes more sense. You can still get a high-quality car, but it will be lot less expensive and will depreciate proportionately less. For instance, it will be more cost-effective to purchase a used Citroen than a new one.
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Financing
Whether you’ll choose a finance package is one of the key factors to take into account when choosing your car. This is where you choose a structured agreement where you pay for the car in instalments rather than paying for it all at once. As an alternative, you can finance your car by leasing it with monthly payments rather than buying it outright. While this would lower your monthly payments, you won’t end up with an asset. Finally, you can consider applying for a personal loan, in which case you would borrow money from a bank or another lender and use it to pay for the car in full.
Safety
Safety ought to come first as a novice driver. In the unfortunate event of an incident, a very safe car could be able to prevent one or lessen the damage. The Euro NCAP safety rating can be used to assess a car’s level of safety. Many vehicles receive a safety star rating from this impartial organisation. You can also save money on insurance by choosing a vehicle with a high rating.
Insurance estimate
Getting an insurance quote is the last step. After all, driving is illegal unless you have insurance and your vehicle is registered. You should choose the proper vehicle to receive the greatest quotation possible; smaller, less powerful automobiles are typically trusted more by insurers and can result in you having a reduced rate.
Choosing your first car is a thrilling but crucial choice. And by heeding the aforementioned recommendations, you ought to be prepared to choose a vehicle that, when you go on your first road trips, makes both economical and practical sense for you.
