Purchasing a first car may be a thrilling and challenging experience. If you need more preparation, the logistics between selecting the correct finance plan, researching the best model, and reading the fine print can be overwhelming. The following advice will help you purchase your first car.
1. Fix Your Budget
Setting a budget is the first stage in the car-buying process. This will assist you in focusing just on vehicles that fit within your budget before you find love with an expensive car. Add together all of the money you make and spend every month to create a budget. Consider classifying your spending as discretionary (like eating out or purchasing new clothes) or fixed (like rent, utilities, and student loan payments). You’ll find several places to save money if you have a clear picture of your spending. This will free up more cash for your monthly automobile payment.
2. Determine Your Must-Haves’
Establish your essentials: List the items that are most important to you, such as entertainment systems, fuel efficiency, and safety features. This will help you reduce your possibilities. With ACKO Drive, you can filter your favourite features of the car you want to purchase and see how it influences your budget.
3. Calculate Finance and Variables
Once your selection of ideal cars has been reduced, it’s time to consider your financing options. You’ll require a car loan to finance the purchase unless you have enough cash to buy the automobile. You have more alternatives than ever when choosing where and how to purchase when the time comes.
Depending on whether you’re looking for a new or used vehicle, you can purchase a car from dealerships, dealer websites, online car-buying sites, or private sellers. ACKO DRIVE even offers door-to-door car delivery.
4. Do Your Research
Even though you’re on one of the best websites for automobile buyers, conducting research online is also simple. There’s an incredible amount of knowledge and insight about new cars and model options. After you’ve fully processed everything, compare it to your gut feelings or those of a person whose intuition you trust. Additionally, take the initiative. Ask about the owner’s experience if you see somebody driving a car you admire.
5. Consider the Type
When purchasing your first car, think about what type of car would suit your needs and lifestyle best. Here are some popular options to consider:
Sedan
- Sedans are the most common type of car. They typically seat 4-5 passengers and have a separate trunk.
- Sedans offer a comfortable ride and decent fuel economy, making them practical choices for daily commuting and errands.
- Some affordable sedans for first-time buyers include the Honda Amaze, Tata Tigor, and Honda City. The Honda Amaze on road price in Bangalore will relieve your budget-conscious mind as it ranges between ₹ 8.60 L and ₹ 11.95 L.
SUV
- SUVs (Sport Utility Vehicles) are larger than sedans and sit higher. They offer more cargo space and seating capacity.
- If you have a large family, SUVs work well. Fuel economy may be lower than sedans.
- Entry-level SUV models include the Hyundai Venue, Tata Nexon, Maruti Brezza, and Kia Sonet.
Hatchback
- Hatchbacks have cargo space that is easily accessible through a rear door that lifts open.
- Hatchbacks get better fuel economy than larger SUVs. The new Maruti Suzuki Swift, Tata Tiago, and Hyundai Grand i10 Nios are popular affordable hatchback models.
6. Consider the Compatibility With Your Lifestyle
Once you’ve decided on a car, learn more about its features and associated maintenance costs. A car might not be the best option if it satisfies your lifestyle needs but not finances. Consider the state of the market for this type of car and the depreciation rate over time.
7. Take a Test Drive
The abundance of online resources overshadows the value of the test drive. When making decisions, nothing matters more than how you feel when driving. There are so many factors to consider—such as steering wheel feel and adjustment, outward vision, display, and seat comfort and height—that you need to spend some time behind the automobile’s wheel. Furthermore, someone’s stop-and-go test route should be over five minutes.
8. Carefully Read the Insurance
Read the insurance carefully when buying it for your car. Try to understand the type of coverage it is offering. A third-party liability policy will cover the third-party accident claims, while a comprehensive policy will not. A comprehensive car insurance policy will cover the cost of unexpected expenditures related to your car, i.e., an accident. Consider the premium and the payoff against that amount. Different policy sellers offer different add-on benefits. Compare those add-on benefits as well so that you can understand which of the policies fits the best for your requirements.
Conclusion
The information above may make purchasing an automobile appear a little easier for you. However, the sheer number of alternatives available and the genuine inventiveness that goes into today’s automobile options can stimulate even individuals with no interest or enthusiasm in cars, given half a chance to go through the process. You will locate the ideal vehicle, with hundreds to pick from and the correct financing rates. If you take time during the process, you’ll be happy with the result.
