Money Talks News: Lesson for car buying beginners

Money Talks News: Lesson for car buying beginners

(Money Talks News) - Whether it's new or used, there's nothing more liberating than getting behind the wheel of your first car.

But as with driving, the safest approach to car buying is moving slowly.

  1. Know your dough. A reliable car doesn’t have to be expensive. Make a budget and stick to it. While the temptation is great to buy a red convertible, it’s more important to get where you’re going than it is to look good. Cars are for transportation, not status. In other words, you’re going to be tempted to buy a car that looks like this.
  2. If you’re borrowing, arrange your financing. Shop around, online and locally, then get pre-approved. Don’t walk into a dealership without it.
  3. Research. Look for cars with high reliability, and low maintenance and insurance costs.
  4. Test driving. But before you do it, print out a checklist and go down that checklist with every car you drive.
  5. Always have any car inspected by an independent mechanic before you buy.

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