Making any kind of financial commitment for the first time can be a bit unsettling. Buying your first car is no different than any other situation. To help you have a good experience, there are some guidelines you need to keep in mind.
The first thing you should do is research. Unless you've won the lotto, your first car should be one that gets good gas mileage and is very reliable. It is easy to get caught up in how cars look, but don't make this mistake. Read up on the best rated cars and avoid those that get bad ratings like the plague.
Your second task is to know what you can comfortably afford. You are going to need a down payment and then a loan with a corresponding monthly payment. In general, the smaller the loan, the less total interest you will pay. There are different ways to set up loans, so play around with the various online calculators. Once you know what you can spend, stick to it. Don't blow your budget!
Go to the dealer to test drive the car you are interested in. Personally, I decide up front that I will not buy on that visit. This gives you time to digest the experience and take a measure of what you like and what you don't. Only then can you really make a decision.
One final tip is to look for oddities with the car you are considering. I'll give you an example. I own a Mini Cooper. I love the car, but one thing that bothered me was there was only one dealer in San Diego when I bought it. This gave the dealer a lot of leverage over my repairs and such. It was a serious issue, but I decided to buy any way. Fortunately, there is another Mini Cooper dealer opening in the city, so it no longer is. Still, this is the kind of thing you want to watch out for.
Buying your first car can be unnerving because it is usually your first large financial commitment. Follow these tips and you should get through it fine
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