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HOW TO BUY YOUR FIRST CARTHE SECOND BIGGEST PURCHASE OF YOUR LIFESTEP 1: FIGURE OUT WHAT YOUR BUDGET IS.I am not a fan of debt so saving and buying a car cash is the best way to buy a car. My parents did a matching program with me where they matched whatever money I raised for my first car. I think $5,000 is a great place to start, as you should be able to get a good used car. I believe that as a car owner you need to have some sort of buy in to the car purchase which is why I disagree with your parents buying your first car. Buying the car is only the beginning to spending money as DMV fees, Registration fees, and maintenance is what car ownership is about. (if you buy a car that is 10 years or older with more than a 100k miles you will need to get a personal loan 8% vs. an auto loan which is 4%) STEP 2: FIGURE OUT WHAT KIND OF CAR YOU WANT. This is the most fun part about getting a car is seeing how good of a car you can get with the money you have. I firmly believe that one must buy the newest lowest mileage vehicle within the budget that you have. Do not start looking at cars until you have completed step #1 in figuring out what you have to SPEND! The biggest problem with car ownership is when you get a bad car and you have to take it to the shop. Doing your research and asking people for advice can make a big difference in how much money you spend on fixing your car. I am kind of biased towards Toyota’s and Honda’s as I have had a lot of success owning those cars throughout my 20 + years of driving. We just bought my son a Mitsubishi Endeavor 2011 for 5k with 90k miles on it. Here are the steps in your research: STEP 1: find your car and make sure to stay within your price range. Car reviews with a forum356831510350500 reviews: STEP 2: See what others are paying for the same car. Used and New Car prices: or STEP 3: Blogs and Forums: this is the best way to get info about what to get and what not to get. For example a 5 speed may be a disaster for one model while the automatic tranny is fantastic. 288973854073GOOD QUESTIONS TO ASK/ THINK ABOUT PRIOR TO PURCHASINGWhat is the vehicle being used for? Why are you selling the vehicle? Do you have a service history? Has it ever been in an accident? GOOD QUESTIONS TO ASK/ THINK ABOUT PRIOR TO PURCHASINGWhat is the vehicle being used for? Why are you selling the vehicle? Do you have a service history? Has it ever been in an accident? OTHER: Ranking of Cars: good place to check for reliability. Consumer Reports: Costs money but a guide is available at the bookstore for free. STEP 3: FINDING THE CAR THAT YOU WANT. This can be difficult, but it is also part of the challenge. Once you have figured out exactly what you want from engine size, interior color, exterior color and other features that are important to you it is time to find the car. Using the power of the internet is probably the best way to go. Before I buy anything I always check Costco, Amazon and Ebay. I would make sure to apply the same principles her as I would first check the biggest seller of used cars. Purchasing a 2-3 year old used car from a private owner can save you thousands. I would recommend checking with the below websites so that you can see just exactly what this car will cost you. Sometimes the nicer cars can be found on forums as I have bought a trailer that way and the only way I would have found it is by checking the forums for that particular trailer. FINDING THE CAR: - usually the best bet even if it is a private seller. - usually a good deal but I would for sure have the car checked out by a mechanic. - not a great way to go unless you can go see the carSTEP 4: GOING TO PURCHASE THE CAR When going to purchase the car make sure that you have CASH or a check from your bank. I would not talk price or anything until I have had the car inspected by a mechanic. The problem with doing the inspection yourself is that the emotion of buying a car is to great and some of the flaws will be overlooked. I also recommend having a Carfax pulled on the vehicle as this will reveal any frame damage or other accidents the car has been in. The seller should pay for this in case you are wondering. There are free websites to check the vin with to see if it has been in an accident in case the seller does not want to pay for a Carfax. How to inspect a car: Free VIN check: Has your car been in an accident? Make sure the car has been smogged. It is the responsibility of the SELLER to smog the car. Look at your state laws to see where they stand on that. STEP 5: WORKING OUT THE PRICE Do your research before going into the purchase. Know what the car is worth if everything checks out. Have a number in your head before you go into the purchase as this will makes things much easier if you need to walk away from the deal. Most times people want to sell the car so bad that they would be willing to take much less then the car is worth. I think the best piece of advice I was given is to bring a friend or family member along to prevent any sort of problems and to have some support. If you are more old school you might want to get a bill of sale as well. After you have made your purchase make sure to go and register the car at the DMV. 405193534925006229353492500 ................
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