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Choosing your first car is like finding a needle in a haystack! Do you go with a Jeep or a Honda? GPS or a sunroof? With so many options, your brain might throw in the towel.
But hold on to your steering wheel because there are some questions you should ask yourself before deciding. Trust me, I learned this the hard way!
Give me the amount of time it takes to fill up a gas tank to share what I learned.
How will I pay for the car?
Photo by Jason Leung on UnsplashFirst, consider or calculate a budget. How much am I willing to spend?
Set a spending limit that's not too high or low. If I spend too little, the car quality might be impacted.
If I pay in installments, am I able to keep up with the monthly payments?
Through personal experience, I learned the importance of budgeting when I faced challenges in making payments. However, this taught me financial responsibility and prompted positive changes in my spending habits.
Should I buy new or used?
New and used cars might be in the same heavy-weight division, but knowing the differences can impact your choice.
Photo by Jonathan Tomas on UnsplashConsider the pros and cons before determining the winner!
New Cars
Pros ā
eco-friendly alternatives
low maintenance
reliability
Cons ā
higher in cost
loses value over time
higher sales tax
Used Cars
Pros ā
low in cost
pre-loved car could be as good as new
tax and insurance are lower
Cons ā
may require maintenance or repairs
fewer options
quality and reliability are not guaranteed
When considering between new or used, the decision was heavily influenced by my budget. Choosing a used car within my financial limit allowed me to purchase a reliable and maintained vehicle.
Quiz
Imagine you want a new car. You care about reliability and the environment. However, you're mindful of your budget. What aspect should you consider a priority?
Low maintenance is the best answer for this scenario. New cars require less maintenance. A well-maintained car lasts longer, reducing its environmental impact by minimizing the need for frequent replacements.
Where else will my money go?
I got the car under control...now what?
Here are some things to consider when owning a car:
Vehicle inspections ensure a car passes safety and emissions regulations or both. It could vary from country to country.
Vehicle insurance covers car damage, injuries from accidents, and liability. If you're planning on getting a new car, keep in mind that insurance costs are higher.
While maintenance and repairs are unavoidable, used cars may have higher costs depending on their age and mileage.
I chose a used car, as it fit my budget despite some maintenance issues. Low insurance costs and regular inspections made this a great purchase!
Did you know?
The sale of electric cars has grown from 1 million in 2015 to over 20 million in 2022. As electric vehicles increase in popularity, one question that comes to mind is whether they will lower the cost of gas. Until it is determined, it's wise to consider current gas prices when budgeting for your first car.
Take Action
When buying a car, remember preparation and asking the right questions can make the process less overwhelming.
This Byte has been authored by
Elisa Porcelli
Educator
MA- School Administration