Tips for Owning Your First Car

Written by Karen Bryan

You will always remember your first car, so it’s important that you choose one that is perfect for you. There are so many options available, so doing your research is key. Find out exactly what you need and want from your car before you start looking for one. Here are some tips on finding a car that is cheap to run and reliable:

New or Used

The first thing to think about is whether to buy a new or used car. Obviously, used cars cost less money than new cars. Buying a used car could save you around 30-40% of the cost after a three-year period. However, it’s not all good news. Older cars usually have a shorter warranty, so this is defnitely something to think about before deciding. If you are looking for finance for your car, then you may find you get offered a better deal when purchasing a new car than used, too.

PCP (Personal Contract Purchase) could be the right option for you. Monthly payments are usually cheaper due to a portion of the car’s value being held until the end of the payments. The top 10 dream cars on Carmax may seem out of your price range right now, but it doesn’t hurt to have a look. Your first car is just the start of your journey to purchasing the car of your dreams so don’t be disheartened; continue to save, and you’ll get there.

Think of It as an Investment and Consider Your Expenses

Thinking of your first car as an investment is something that not a lot of people do. If you purchase smart there is a chance that when it comes to selling your first vehicle you can make some of your money back. We say some of your money because cars do typically depreciate in value over time.

You may also want to consider some of the expenses associated with the car you are after. How much will you be spending on maintaining your vehicle? What type of fuel does your vehicle take? How much will a service cost? All of these queries and more should be taken into consideration when making your choice.

Car Insurance

One of the biggest issues for new, young drivers is the price of car insurance. But, how do you cut the costs of insurance? The first tip is to choose a car that is in a lower insurance group. Small cars that contain a small engine tend to be in the lowest group. The second tip

is to consider choosing a policy that restricts the number of miles you travel. This will cut your costs considerably. The third and final tip is to choose to have a higher excess. This may cost you more if you end up having a crash, but could save you a fortune if you don’t.

If you are a good driver, then consider having a black box installed in your car. The black box measures how you drive and will reduce your insurance if you are a safe driver.

For most first-time car buyers, it is probably the best and cheapest option to purchase a used car. However, make sure you look into the PCP schemes that are available before you do. Remember, you want to make sure the memories of your first car are of how good it was and not how unreliable it was.