A Col Crawford LifeStyle Cars Special Report
Buying your first car is very exciting - but it’s no time to be making an impulse decision and ending up with the wrong car for your lifestyle - or worse yet a lemon. It's worth the time to put some thought and planning into your purchase before parting with your hard earned cash.
Ask yourself, and answer honestly - what do you really need from your first car? What things are must have and which are flexible? Is being green the most important to you or is storage space? Do you drive to the mall and back, or go on big road trips? What safety features does your dream car have? What’s the fuel economy? There are a number of issues to consider. Here’s is a checklist to get you started.
New Car Versus Used Car
This might come down to what you can afford, but there are some things to consider. All new cars come with a manufacturer’s warranty, most commonly for 3 years (although some can be a lot longer. Mitsubishi has up to 10 year warranties). This means that if something goes wrong, the manufacturer will fix it (that is if it’s a fault of the car - not if you have an accident).
Buying a used car from a private source can sometimes save you money but it comes without added piece of mind. Once you have completed the transaction, the car and any problems, big & small, it may have are now all yours. No matter how good the car looks, make sure you get it checked by a qualified mechanic. If you don’t have a mechanic in the family or mate - try www.nrma.com.au.
What Car Can You Afford?
You might have been saving hard or maybe even the parents have chipped in to get you closer to your first wheels. How much you spend is up to you, but make sure you have considered and factored in all the costs of ownership.
Shop around for the best insurance deal, but make sure it covers you for all you need - saving a few dollars up front, will turn to tears if you can’t claim when you need to.
Generally your car will need one big service and one interim service a year. For a small/medium new car you should allocate around $500 per year, for a used car, set aside more in case it needs replacement parts or more major repairs. You car might seem fine to you, but regular servicing ensures that any little problems you don’t know about don’t become big and expensive ones.
Choosing a car with good fuel economy will save you money across the life of your car.
Finance Your Car or Purchase Outright
To finance your car simply means you pay your car off in installments over a number of months instead of paying for it all at once. You do this by taking a loan out with a finance provider after being approved for credit against the car.
A lot of buyers finance their car as it’s their preferred way to own a car. All car loans have a fixed interest rate, which means that whatever rate you bought the car under that’s what it will be for the life of the loan – unlike home loans.
Your car loan will probably be over 1-5 years, whichever works for you. A shorter loan means you are paying more per month but paying it off quicker, which may not be practical if you aren’t working full-time. A longer loan means less per month, but you will have the loan for longer and pay more interest.
Talk to your Mum/Dad or an experienced adult first to work out if this is the best option for you. Then, if it’s what you want, a business manager at Col Crawford will sit down with you and discuss your options -so you can mange your monthly budget.
What Do I Do On a Test Drive?
Take at least 20 minutes, drive on a variety of roads and try parallel parking and a U-turn. Check out the car's features. Even if you love it, keep a cool head till you have checked everything out.
If you ever need advice on any aspect of your first car, Col Crawford Lifestyle Cars will gladly offer you advice, answer questions and get you into your first car.
>> Col Crawford will soon have here the Mitsubishi iMeiv , MINI E, Renault ZE range and Nissan Leaf. Click here to visit the Col Crawford blog and see when you can check out all new electric vehicles on the Northern Beaches for yourself.
>> Click here to read more about the future of the Electric Car, from Col Crawford, Lifestyle Cars!
>> How does an electric car work? Col Crawford has all the answers!
>>How to Improve Your Car’s Environmental Impact
Expert Advice by Stephen Crawford
The Managing Director of Col Crawford Lifestyle Cars, which has been the Northern Beaches automotive centre for over 42 years. Steve has lived and breathed cars all his life.
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