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4315 North Service Road, Burlington, ON, L7L 4X7

Top tips for first time car buyers

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Top tips for first time car buyers

 

Passing
your test and getting your license is the beginning of the journey, not the
end. Now you have a whole world of new things to learn and to explore. Few
times in our lives are so exciting as when we can legally drive ourselves and
begin exploring the world around us. 
So when
you're in the market for a new car, where do you start?

First, you
need to ask yourself three key questions.

1.    How are you going to pay for the
car?

2.    How much is insurance likely to be?
3.    What's your budget for running
costs?

The answers
to these questions will dictate what kind of car you can practically afford and
will hopefully guide you to choosing the right car for your situation, leaving
you free to begin exploring our great nation.

How will you pay for your
first car?

In an ideal
world, you would have been saving for your first car and be able to pay cash.
However, with saving for college, your first home and general living expenses,
this isn't always the case. As long as you have a decent deposit, or at least
20% and be creditworthy you should be okay.

Budget to
be able to pay off the car within 4 years if you can. If you're anything like
we were when new drivers, you'll be changing your car a few times as you trade
up. So settling finance as early as possible is usually a good thing!

Insurance costs

The second
most significant cost to any new driver is insurance. Insurers view you as high
risk until you have proven otherwise, so expect to pay a premium for insurance
for the first three or four years. This will need to be factored into your
choice of car and will directly affect what kind of car you can afford to run.

A four door
car is much cheaper to insure than a two door. A family sedan is cheaper to
insure than a drop top and a four cylinder is much cheaper to insure than a V8.

Running costs

Running
costs will include gas, servicing, parts, oil changes and the like. Depending
on how many miles you drive, factoring a budget of $100 a month for gas isn't
unreasonable. An oil change once a year is the minimum and regular servicing
pays for itself in preventing serious issues. That's especially true with older
cars.

If you're planning
on buying your first car, it pays to work with a dealer you can trust. Come
visit us at Betterway Sales & Leasing, 289 HWY #8 , Stoney Creek, ON, L8G
1E5, for a great deal on a huge range of makes and models.

Categories: News, Pre-Owned Inventory, New Inventory

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