Purchasing a car is a big step. When it’s your teen’s first vehicle, that step can seem enormous and maybe even a little nerve-wracking. Before the stress of all the options and considerations gets to you, take a look at these helpful tips.
First things first, put together a sound budget. Start by sitting everyone down together for a group discussion and go over how much each party is able to contribute. Touch on maintenance and repair costs, used versus new, gas mileage, insurance and all that jazz. Doing so helps establish a reasonable purchase price and ensure everyone is on the same page from the get-go. It also works to acquaint your teen with all the costs associated with owning a car. Once this key determining factor is decided, it’s time to begin the search.
Before narrowing down the endless list of options, it’s beneficial to know where you can make the purchase. There’s used car dealerships, virtual venues and even live auto auctions available both online and in-person to browse. Wherever you choose to shop, consider consulting a mechanic, online resources and even outside advice from friends before making the final decision.
Another important consideration is safety. A teen needs a reliable car in good condition. Be sure to inspect the essential features for any necessary repair, research the crash test results and comb through the prospective vehicle’s history.
For further pointers on buying your teen’s first car, please see the accompanying resource.
Infographic created by Capital Auto Auction