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Buying A First Car

Buying A First Car


Are you looking to buy a car? If yes, you’ve come to the right place! If no, everyone needs to buy some form of
transport at some point, so this is a good start. In this short video, I’m going to show you
the do’s and don’ts of buying a car in just 5 easy steps. Let’s get right into it. You might be dreaming about that amazing Ferrari
or Lamborghini, but let’s be realistic. It’s much more likely that your first car
will look a lot like this: … . But on the plus side, in this video I can help you to
get one of these, but make sure it lasts longer! Great, right? Alright, I’m being a little extreme. There are lots of cheap, first-time-buyer
cars out there that look way better than this one. You just have to go digging. Create a checklist and make priorities. What do you want in your first car? Leather seats? Good fuel efficiency? Convenience? A specific brand because your family and friends
ALL have Mazda’s? The best thing to do is organize your priorities
in a table or list. You can include things such as: how much does
maintenance cost matter? Insurance costs? How much does saving the world mean to you:
what about low carbon emissions? Here’s an example of one: Once you get your thoughts and priorities
in order, you know what you’re looking for. RESEARCH, RESEARCH, RESEARCH! It’s HIGHLY unlikely that the first mechanical
drive with a ‘for sale’ sign outside it will be exactly what you’re looking for. Search the internet, look around town dealerships. You can go straight to brand-name websites
and they will almost always list off the car’s ‘specs’. These are basically just the features of the
car – some that you may have listed off before. Its best to start this search early, because,
depending on how specific you are in your priorities, your search may continue on for
a while. Make sure you can afford it! Once you have your search narrowed to just
a few, tally up your earnings of your job, so you can make sure you’re not throwing
yourself in the deep end and spending all your hard-earned cash. It’s best to have a savings buffer for any
other expenses in your life. For each car you find, it’s helpful to create
another list of costs. There are two types of costs: short-term and
long-term. A short-term cost is the expense of a short-term
implication for the product, or basically just an expense that is a one-time thing when
you buy a product. For buying a car, your short-term costs would
be, naturally, the cost of the car (unless you’re getting a loan) – but it can also
be something like shipping costs, if that applies to you. Add these expenses to your list. Keep in mind the long-term costs also have
to be covered. Long-term costs are the ‘on-going’ expenses. They are the expenses that come with buying
the car, and you have to pay for over a period of time, like maintenance. Add to your cost list things like loan repayments,
insurance, registration, maintenance costs and more, as these are all things which have
to paid for over a period of time. This will organize your search once again
and narrow it down. Remember to keep referring back to your priorities
table. Oh, and one last thing for this step, look
for hidden costs. There are definitely possibilities of a scam
or extra payments in these kinds of transactions. If something seems sketchy, ask for advice
(for example from a parent), or simply, DON’T DO IT. If it sounds too good to be true, it probably
is. Always, no matter how boring, read the fine
print. It could save you from losing that extra money,
or worse, debt. You have the right to ask as many questions
as possible to the dealer, and it is important to know your rights and responsibilities. A website such as www.moneysmart.gov.au is
a great place to find a list of those rights and responsibilities, perfect to review what
you know and to double and triple check before buying that car. So, there it is. 5 super simple steps for buying a car. Follow these and you’ll be able to cruise
around the block in no time.

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5 thoughts on “Buying A First Car

  1. My brother is looking for a car so I showed him and he laughed at when it was the step and the person yelled in the background: “STEP 3 SHORT TERM COSTS”

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