Buying a car can be tricky, no matter your age.  But as a first-time buyer, it can be a lot to manage. This process goes beyond looking for the car you want, as you will have to educate yourself about car models on the market, the costs involved, and how these costs will affect your budget. Being nervous about taking that first step is understandable, especially with so many scams to avoid while you’re at it.  As a graduate, your first instinct might be to call your parents whenever you need help. But now that you’re a young adult who recently graduated, you might want to give them a break.  Buying a car is a big purchase for most young adults, but proper planning can make the whole process easier. With any purchase that will have major financial implications, you should always take the time to plan your actions carefully. Now, you might find a car that catches your eye, but do not get carried away before getting into any sort of agreement.  As a new graduate, you might be wondering about your finance options. Many young adults simply can't afford to pay for a car upfront, but the good news is that you can always apply for car financing. Follow our article below and find out the best advice for new drivers: 

Do your research 

Many first-time car buyers fall into the trap of buying a car when the deal appears too good to be true. This can be an uphill battle when you’re pressed for finance. So, before committing to anything, do your research and be honest about what your needs are.  Taking the time to conduct thorough research will give you an outline of the type of cars that are within your budget range. Are you looking for an SUV, sedan or crossover? Don’t be hasty and feel the pressure to make a decision right away. Take your time and weigh up the pros and cons of each vehicle you might be interested in. 

Know what you can afford 

You probably have an idea of a price range you are most comfortable with. So, putting a pen to paper and budgeting will help you identify all the costs that come with buying a car. Planning to buy a car is not something that can be done overnight – it takes lots of number crunching and taking a rational look at your finances. When budgeting, make sure that you include costs such as maintenance and petrol. Also, having a down payment will help you reduce the repayment value. Once you have made your decision, you should save at least 10% of the total cost of the car. 

Shop around and broaden your options 

As a first-time car buyer, it's always advised to shop around before making your final decision. Many people might be advising you to go through the traditional route of buying a car, through a dealership, but you shouldn’t be hesitant to explore other options.  Admittedly, many people do not consider options such as auctions or private purchase. But it is always good to keep an open mind, to find the best deals. A simple Google search will inform you of all the car sales around your area.

The best cars for first-time buyers  

Good cars are always available, but as a first-time car buyer, you may have been searching through the web on which car will best suit you. Well, here is a list of the best suitable cars for first-time buyers who are on a budget in 2019:
  • Volkswagen Polo
  • Kia Picanto 
  • Toyota Etios 
  • Renault Sandero 
  • Volkswagen Polo Vivo

Consider financing options

Most graduates opt to apply for car financing as they cannot afford to pay for a car in cash. When looking for car finance for new drivers, make sure that you shop around and compare the interest rates from lessors. Many graduates fall into the trap of only going for the dealer’s financing, but you can also look for a lender on your own.  Just like every kind of financing, car finance for graduates requires you to have an established credit record. And although this is the norm, some institutions offer competitive rates and don’t require you to have an established credit score. 

Final thoughts 

Buying your first wheels can seem tricky, but it doesn’t have to be. You just have to think practically about your purchase. Since this is your first vehicle, make sure you look at more than just looks or brand. Take into consideration the amount of money you have, your financing options, and what type of car fits your budget. This will ensure you purchase the right vehicle for yourself, that you can enjoy for several years. 

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