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Posts Tagged ‘buying a car’

Prior to buying your first car, you should consider the following tips:

A car definitely provides convenience, but prepare yourself for added expenses. It’s no secret that gas prices and other related costs will hit your personal balance sheets as it will certainly increase your monthly expenses. Make sure that you are prepared for this, otherwise think twice. Having a car isn’t just a one time cost. It incurs regular expenses as well.

Understand your current financial status and use it as a factor in choosing the right plan for you. Avail of a plan that suits your ability to pay. For example, some car dealers allow interested buyers to have a car just with very low down payment but with high monthly amortization. Others would offer stretched payments. On the other hand, there are dealers that allow you to pay low monthly payment as long as 50% or so is paid initially. The point here is that you have to check on the plan or promo that best suits you.

Make sure that you know the road laws and policies. There could be differences depending on where you live or where you plan to go. Know these rules and follow them as always.

Lastly, always have important numbers with you. Keep telephone numbers of local police, hospitals, roadside assistance club and others. This will be of great help if you run into trouble.

When I was in college, one of the things that I wanted is a nice ride. I promised myself that a car would be one of my goals by the time I work. In fact, it’s on the top three of my list of goals.

Later on however, reality struck me. Life isn’t as simple as it is. I only have limited source of income so my priorities have changed, and at this point in time, I can say that I have learned a lot in handling my finances. I still want (not need) a car, but it’s no longer a priority. If given the chance though, I don’t see myself driving an expensive vehicle and later on have a hard time looking for Ferrari parts or other items. Just a simple but nice car will do. For now, my eyes are focused on a Santa Fe. But then again, my toy has to wait a little longer.