Buying your first car, all on your own, without the help of your parents is considered a rite of passage for young adults. This purchase often happens after you finish college and get a job. If you are earning and saving money, you can make a plan for purchasing your first car.
Earnhardt Auto Centers comprises 23 dealerships and almost as many brands. You’ll find everything from a small commuter car to the most sophisticated luxury ride.
Planning For Your First Car Purchase
Buying an auto after college is so common that college websites offer tips on making a plan for your purchase. Many financial and credit websites offer this type of advice as well. For most young adults, this will be their largest purchase to date and will be a car they keep for some time before likely purchasing another one.
According to Kelley Blue Book, the average vehicle price in the U.S. is around $38,000. This can be off-putting for many first time buyers. However, there are many cars, trucks and SUVs closer to the $20,000 mark, making it easier for new car buyers to afford them.
Four Car Buying Tips
- Gather Your Resources for a Down Payment
While you want to save up to make a good down payment, it may be possible to use your current car to establish a down payment. You’ll want to find out what your model is worth. Keep in mind that outside estimates are based on the ‘best condition’ of the vehicle. You can get a more accurate estimate when you deal directly with Earnhardt Auto Centers.
- Determine A Budget
You have to decide how much you can afford to spend on a car each month. In addition to monthly payments, this budget needs to include expenses like gas, car maintenance and insurance. If you have been maintaining an old car, you will be saving money on any repairs since the new model will be under full warranty.
- Ask about Financing a Purchase or Lease
Typically, new college graduates and other young adults don’t have credit ratings yet with the major credit bureaus. Earnhardt Auto Centers can help you find a loan or lease whether you have credit issues or no credit. Once your budget is set and you have information on financing, you will be able to decide whether you are going to buy or lease.
- Keep Your Options Open
Before you decide on a must-have vehicle, check out others in the same style category. You should take some time to compare in person and online before making a final purchase. A test drive is always the best way to really know a car.
At Earnhardt Auto, we have new and used vehicles by just about every maker on the market. This allows us to provide a huge variety of models. Not only can Earnhardt Auto Centers help you choose the right car, we can help you get a loan for it as well with our No Bull Financing.