It is everybody’s dream to own a ride. To many people, it is one of the benchmarks of being an adult as you take responsibility of going to places, and handling expenses most especially. It’s natural to get all giddy and excited to have your own car. But acquiring a car isn’t as easy as 1-2-3 because you are talking about a large sum of money. You get ready by using auto loan calculator and other payment scheme.
Here are some points to consider to fool-proof your plans of getting a car!
Budget for Your Auto
Who will pay for the car?
How are you going to finance for your hoped-for vehicle? Talk to your parents about getting a car. Ask if they can support you partially or if they can take responsibility for the whole payment. It is better though if you can pay for your own car as it is a fulfilling experience to fully subsidize for your first major financial goal.
Can you handle the monthly expenses?
Alongside the monthly payment, you should not forget about other expenditures that comes with it. Insurance and maintenance are also a significant amount that you should save up for. Do not forget about the gas expense. Project an estimate frequency of your car use and calculate it with your monthly income/allowance.
The Right Car for You
Take time to do your research.
Consider your lifestyle when buying a car. Do you need an SUV, a crossover, a pickup, or will a sedan do? All kinds of cars are useful for obvious reasons. On another note, all kinds and brands has its features and disadvantages. Go online and read forums or reviews on the car you are eyeing for.
Get a firsthand experience and take a test drive.
Test drive is important prior to sealing the deal. This will gage how comfortable you would be with your prospect car. You don’t want to sulk on regret and pay hefty price for years on a car you don’t like, do you?
Weigh this: New vs. Used
This is in relation to how much money you can shoulder when buying a car. Can you pay for a brand new one or a used yet quality car? If you are giving the brand new a go, you have the assurance that the longevity of efficiency of your car is within your hands. In case of factory defect, you have the dealer to back you up and address your complaints. With used car, there is a risk that machinery problems may surface in the long run. Although there are several trustworthy second-hand car dealers who thoroughly quality check and fix car problems.
Find the nearest dealer.
This will be advantageous to you. Aside from the fact that is easier to transact, you can also easily access them for checkups and insurance concerns.
Financing is the most important concern when buying a car. Can you pay full in cash? Or are you looking into other payment schemes? Go online and start comparing prices and terms that is most suitable to your financial capacity. You can use BDO auto loan calculator and other helpful loan wizards to lessen the hassle of talking bank per bank. Mostly, payment terms usually lasts from 3 to 5 years. You may finance with the dealer directly for a fast process. But it is much pricier. If you want to save big, go for bank financing as your payment option. You can get lower interest rates and more flexible payment choices. Prepare requirements such as credit history, tax identification number, government IDs etc. Seek help from family, friends, or professionals to help you go through the step-by-step process. It may seem a tedious course, but it’s going to be worth it.
Car Safety Rules
Alongside paying for a car, it is also important to note that driving requires responsibility. Here are some safety rules that you should take note of and observe as a responsible owner.
-Eyes on the road and hands on the wheels. Do not use your mobile phone when driving. If you need to take an important call or reply to a message, make sure you are on full stop.
-Adjust temperature or switch channels only when it is traffic. You can ask a passenger to change them for you.
-Avoid getting too close to another vehicle to prevent fender-bender incidents.
-Use signals when making turns.
-Do not drive under the influence of drugs or alcohol to avoid accidents. If you aren’t sober, ask someone to drive for you instead or don’t drive at all.
-Take extra caution during heavy rains or floods.
-Watch out for your speed limit always.
-Observe traffic rules and regulation.