Purchasing Your First Car!

With the transition from college to the "real world" comes the option of purchasing a car! You finally have the chance to get your own set of wheels and let go of your dying vehicle or mom and dad's hand- me- down. Here are a few tips to get you started in your car purchasing process.

1. Plan, Budget, and Decide

Take sometime before even searching for cars to figure out if your budget can provide you with a car and if you even need one. Purchasing a car is a big monetary decision and requires planning and budgeting. Your current car (if you have one) may not even need to be replaced, and deciding not to buy a car after graduation can save you some serious money. During this time also decide what type of car you want. Used or new? What make and model? What features must you have? Asking people who know a lot about cars can be helpful.

2. Explore Your Financing Options

Purchasing any big ticket item requires some saving and budgeting, and buying a car is no different. If you are buying a used car, paying with cash out right may be an option. Check out your local bank or credit union to see what type of car loans they provide to assist you in the buying process. If you already have a car, look for the possibility of trading it in. Don't forget other expenses such as tags, titles, insurance and a down payment. Incorporate these things in your budget.

3. Shop Around

Buying your first car doesn't need to be a hasty process. SHOP AROUND! I repeat! SHOP AROUND! Visit online sites such as carmax.com and autotrader.com to compare prices and deals. Pay attention to advertisements and sales put on by your local dealerships. Don't be afraid to test drive different models to see which car is the best for you. Be sure to check the Carfaxs of cars you are seriously interested in! 

Happy Shopping!