6 Top Tips for Buying your First Car
It can be confusing and overwhelming as you set out to purchase your first ever car. Â If you have been looking, but are finding it difficult, read our beginner’s guide to help you make the best decision when buying your first car. No matter whether you have saved up the money, using car finance, or have been given the funds from your parents, this guide makes sure that every penny you spend will be worthwhile for your new car.
6 Top Tips
1. Set a realistic budgetThe amount you are willing to spend on a car varies from person to person, but it is sensible to figure out the appropriate budget you can afford and stick to it. Expenses such as your rent, mortgage and bills need to be taken into account to budget effectively. Other than budgeting for the cost of the car, you need to also consider other unavoidable costs as well, such as:
- Fuel — As your car will need fuel to be running, you need to calculate the cost to travel to other places.
- Car Insurance — Find out how much the insurance will cost. If you are under 25 years old, the car insurance will be a lot pricier.
- Road Tax — Every individual who owns a car will need to pay road tax. However if the car is powered on electricity or was made before 1978, you will not need to pay road tax.
- MOT Test — A car older than 3 years old must undergo annual MOT test checks to ensure your vehicle meets the road safety standards. Maintenance will be an additional payment to your budget. You cannot drive and will need to pay a penalty if you do not pass your MOT test.