Tag Archives: car buying

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Make Sure That You Make The Right Choice When Buying Your Teenager’s First Car

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It can often be a pretty scary prospect when the time comes for your teenager to get behind the wheel of a car on their own for the first time. Sure, they’ve passed their test, and you know that you can trust them, but that doesn’t make it any less nerve-wracking. This is especially true when you’re trying to find the perfect first car for them. After all, you want something reliable and safe, but you don’t want to end up paying out the nose for something when they don’t have that much experience out on the road. Finding the right car for your teenager isn’t always easy, but if you follow these simple pieces of advice, you can be sure that you make the right choice.

Don’t overspend

It can be pretty tempting for a lot of parents to get the best car for their teenager so that they can be sure that they’re as safe and secure as possible. This is an understandable perspective, but the reality is that the chances of your child getting in an accident on the road are never higher than in the first year or so. Because of this, it’s far better to go for a cheaper car that they can get into little bumps and scrapes without it being a total disaster. Similarly, newer and more valuable cars often have much higher insurance rates. No matter what kind of car you do choose, make sure to check out sites like cheapautoinsurance.co.uk to get the best deal on your child’s insurance policy. Over time their premiums will decrease, but it’s a good idea to get the best possible deal right at the start.   

Less is more

For a lot of teenagers, the desire for a powerful first car is pretty strong. After all, they want to make the most of their new found freedom as well as the status that having their own car affords them. Of course, most of us know all too well just how dangerous that kind of attitude can be when a young person is behind the wheel of a powerful car. Sticking with vehicles that have smaller engines is a much better idea because it takes away a great deal of that temptation from your teenager so that they are able to stay safe on the road. It also lowers things like insurance premiums and tax on the car so that you’re able to avoid paying more than you need to. After all, the first year of driving is not the time when someone needs a big powerful engine under to bonnet of their car.

When it comes down to it, the most important thing that you can do when buying your teenager their first car is to trust them. It’s never easy to give them the independence that they need, but there comes a time in every parent’s life when they have to let go and let their kids get out into the world on their own. At least you can rest easy knowing that the car that they’re driving is as well suited to them as possible.

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Stop! Before You Take That Loan, Know Your Options

The majority of drivers are going to get their hands on a car because they go down the traditional route of ownership. They sign themselves into a loan that gets them a new car, but with a long-term repayment agreement attached. But the truth is that you’re not always going to get the best deal that way. There are also some people who could very well do without another financial ball-and-chain to worry about in the long-term. If you’re looking for another way to get the wheels you need, let’s explore your options.

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Always consider used

Before buying a new car, it’s always worth looking on the used market for the same model. Even if it’s only been out of the dealership for a day, depreciation starts playing its role immediately, making the motor instantly more affordable. Of course, used cars come with their disadvantages. Unless you’re making all the essential checks and being thorough, it’s easy to miss some underlying problems. As a used car buyer, you also stand to lose less value in depreciation compared to those who buy new and get the immediate brunt of value loss at the start.

Take it out for a spin

Not everyone has the same needs, either. Some drivers might need a car 24/7, but for those who need to use it more seldom, it might be smarter not to own a car outright, but rather to get access to one when you need it. Car rental might seem like it’s only for occasional use like holidays or in case of emergency, but if you need a car once or twice a week, it can be a reliable and cheaper alternative to owning one. There are also car sharing clubs, where multiple people each pay for shared ownership of a vehicle. However, the disadvantage of using such arrangements is that there’s an increased likelihood that you’re paying for a vehicle someone else might damage.

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Take it out for a longer spin

Leasing a car is starting to grow into a more and more commonly used option. The benefits are clear. You pay less to temporarily “own” a car, and often leasing allows a driver to afford a car that might otherwise be too expensive for them. Alongside fewer upfront costs, leasing includes a single consolidated payment a month, including various costs that you might otherwise have to budget separately, making the financial management aspect of driving a lot easier.

Flash the cash

If you want to buy a new car but you’re not willing to take out a loan, have you considered taking the time to save for it? Being a cash buyer isn’t fiscally the easiest way to pay for a car but it has real benefits. Buying a car outright with cash is always cheaper than taking out a loan.

There are definitely advantages to buying through a loan, but it’s important that drivers know they always have options. Perhaps you can see one that fits your needs and your finances a little better.

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Beyond The Price Tag: Working Out The True Cost Of Your Car Purchase

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Buying a car is a huge decision, not least on a financial front, which is why every driver should be committed to getting it right. While finding a suitable vehicle that won’t break the bank is one thing, the choice of model is only one factor for making a smart decision.

If you can haggle on the price, that’s great. However, there are many contributing factors to the overall cost of car ownership, and you must take them all into account. Here are five of the most crucial elements.

Repayment charges. Most people aren’t in a position to pay for their car outright. Therefore, the price you see isn’t always the price you’ll pay overall. Learn to understand repayment at auto.loan, and you’ll be in a far stronger position to make your choice. If you’re upgrading from an older car, you must also factor in the part-ex price. After all, that asset could go a long way to reducing the financial strain.

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Running costs. Boasting a beast with a big engine might provide an initial sense of excitement, but it could also result in greater gas consumption. On a similar note, overly big and weighty vehicle will cost more to run than smaller ones. Given that there are now dozens of brilliant superminis and other modest sized vehicles on the market, you’d be a fool to go unnecessarily large. Keep it as small as your lifestyle allows, and the long-term costs will fall.

Replacement parts. All cars need a little TLC from time to time. Opting for a standard manufacturer like Ford will ensure that new parts and repair jobs are far cheaper. When opting for an old car, you also need to think about the tech upgrades that may make driving safer. With this in mind, opting for a car that’s 20 years old could be counterproductive. As long as you consider the long-term needs as well as the immediate budget limitations, you should be just fine.

Insurance cost. After the purchase itself, the biggest cost is likely to revolve around insurance.  Regardless of the vehicle, you should always search for the best coverage and package. This is easier than ever thanks to online price comparison websites like thezebra.com. Conversely, overlooking the need to consider insurance could see you taking on a far greater expense than you imagined. Tax and other additional costs should be factored in too, but insurance is king.

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Resale price. For most drivers, it’ll only be a few years before a newer car is wanted. Depreciation rates can be rapid, which is why you should look for cars that hold value. Of course, this won’t be the top item on your agenda, but it is something worth considering. After all, making a smart decision now will put you in a stronger position when it comes to upgrading. The knock-on effect could have a telling impact for the rest of your life.

So, as you can see, the cost of car isn’t all about the price displayed in the showroom. Cover all the bases, and you’ll become a far happier owner.