First Time Car Buyer? Ask These 3 Questions
So, you’re ready to buy your first car. Congrats! There’s a lot a first time car buyer needs to know to make the right decision.
Plus, buying a car also establishes your credit in a major way. That’s why it’s important to enter the car buying market informed and prepared.
Before you begin your search, make sure you have solid answers to these 3 questions.
What’s Your Budget for Buying A Car?
Do you have the money to buy a brand new car? New car prices have escalated in recent years. And while there are many financing avenues available, don’t fall prey to thinking that you can finance a new car when maybe it’s a stretch.
How long are the finance terms? To be sure you can really afford the vehicle, follow this rule of thumb. Make sure you can comfortably finance your car for a three-year term. If you can’t, you can’t afford the vehicle.
What Kind of Car Do You Need?
Think about your lifestyle and buy accordingly. Do you like to camp? Are you a commuter? Do you carry office equipment for presentations?
Avoid bright, shiny car object with your car search. Recognize that it’s easy to get distracted. Remember, this is your first car. It’s not going to be your dream car.
That doesn’t mean it has to be a clunker. Far from it! There are plenty of vehicles that are sporty as well as reliable and affordable.
If you buy a smaller car, you’ll save on gas and other expenses. That can be important when you’re first starting out.
Should You Buy A New or Used Car?
This question harkens back to the first question about budget. Can you afford to lose $2,000-$3,000 upfront on a new car?
If, as a first time car buyer, you’re only planning to keep the vehicle two to three years, buying a new car may not be the right move especially if the finance terms are for more than three years.
You may not be able to recoup what you have in the vehicle when you sell it. Selling at a loss and rolling over the remainder loan amount into a new loan is a prescription for trouble.
On the other hand, buying an almost new car that’s three years old could be a sound strategy. You’re not paying for the depreciation. You can keep it for a couple of years and then possibly sell it for what you paid for it or something close.
Here at Joe Bowman, our Harrisonburg used car dealership sells Carfax cars. Our customers can buy a used car, truck, or SUV with confidence. As an industry leader, the company created the Vehicle History Report in 1986 and is trusted by car dealers across North America.
Buyers can view Carfax® Vehicle History Reports™ or when you come into our dealership, we can provide you with the complete history of the vehicle.
Additionally, all of our pre-owned vehicles must pass our rigorous 75-point inspection to be placed for sale. As far as humanly possible, our used vehicles are in tip-top working condition.
Then, we back up our inspection with either a 30-day or 90-day warranty, depending on the year and mileage.
The bottom line, it’s really up to you and your finances.
Financing for First Time Car Buyers
When you’re ready to buy, make sure your credit history is excellent. Then get pre-approved to buy. Here at Joe Bowman, we have access to a wide variety of lenders offering competitive rates.
We can certainly work with a first time car buyer. Or, if you choose, you can use your bank or credit union. However, there are two advantages of using our Harrisonburg dealer financing.
1. Our car loan interest rates meet or beat local banks.
2. When we finance the loan, you can get into your new car quickly because there’s no third party paperwork.
Stop in at dealership or shop online. We’re here to serve you in the way that suits you best!
Plus, buying a car also establishes your credit in a major way. That’s why it’s important to enter the car buying market informed and prepared.
Before you begin your search, make sure you have solid answers to these 3 questions.
What’s Your Budget for Buying A Car?
Do you have the money to buy a brand new car? New car prices have escalated in recent years. And while there are many financing avenues available, don’t fall prey to thinking that you can finance a new car when maybe it’s a stretch.
How long are the finance terms? To be sure you can really afford the vehicle, follow this rule of thumb. Make sure you can comfortably finance your car for a three-year term. If you can’t, you can’t afford the vehicle.
What Kind of Car Do You Need?
Think about your lifestyle and buy accordingly. Do you like to camp? Are you a commuter? Do you carry office equipment for presentations?
Avoid bright, shiny car object with your car search. Recognize that it’s easy to get distracted. Remember, this is your first car. It’s not going to be your dream car.
That doesn’t mean it has to be a clunker. Far from it! There are plenty of vehicles that are sporty as well as reliable and affordable.
If you buy a smaller car, you’ll save on gas and other expenses. That can be important when you’re first starting out.
Should You Buy A New or Used Car?
This question harkens back to the first question about budget. Can you afford to lose $2,000-$3,000 upfront on a new car?
If, as a first time car buyer, you’re only planning to keep the vehicle two to three years, buying a new car may not be the right move especially if the finance terms are for more than three years.
You may not be able to recoup what you have in the vehicle when you sell it. Selling at a loss and rolling over the remainder loan amount into a new loan is a prescription for trouble.
On the other hand, buying an almost new car that’s three years old could be a sound strategy. You’re not paying for the depreciation. You can keep it for a couple of years and then possibly sell it for what you paid for it or something close.
Here at Joe Bowman, our Harrisonburg used car dealership sells Carfax cars. Our customers can buy a used car, truck, or SUV with confidence. As an industry leader, the company created the Vehicle History Report in 1986 and is trusted by car dealers across North America.
Buyers can view Carfax® Vehicle History Reports™ or when you come into our dealership, we can provide you with the complete history of the vehicle.
Additionally, all of our pre-owned vehicles must pass our rigorous 75-point inspection to be placed for sale. As far as humanly possible, our used vehicles are in tip-top working condition.
Then, we back up our inspection with either a 30-day or 90-day warranty, depending on the year and mileage.
The bottom line, it’s really up to you and your finances.
Financing for First Time Car Buyers
When you’re ready to buy, make sure your credit history is excellent. Then get pre-approved to buy. Here at Joe Bowman, we have access to a wide variety of lenders offering competitive rates.
We can certainly work with a first time car buyer. Or, if you choose, you can use your bank or credit union. However, there are two advantages of using our Harrisonburg dealer financing.
1. Our car loan interest rates meet or beat local banks.
2. When we finance the loan, you can get into your new car quickly because there’s no third party paperwork.
Stop in at dealership or shop online. We’re here to serve you in the way that suits you best!
