| Before getting your own car, it pays to do some | | | | benefit from knowing that if there is a problem you |
| homework. Think about what you need, what the | | | | can return to the dealer to complain. Many dealers |
| car will be used for, and your budget. Look in books | | | | offer warranties and guarantee the quality of the car. |
| and online and think about repair costs, safety tests, | | | | On the other hand, buying from an individual will offer |
| mileage etc. | | | | less security as the car will generally be sold as is, |
| All this research can save you some serious money | | | | which means you must bare the cost of any |
| and help you avoid being ripped off. | | | | problems that later arise. You also cannot go back |
| Once you've chosen the car you want, you have to | | | | and complain to an individual if something they told |
| decide how you are going to pay for it. You can pay | | | | you turns out to be untrue. That said, buying from an |
| the whole amount upfront or you can finance the | | | | individual can often offer very good value. |
| purchase over time. If you do use financing, you | | | | First of all, they will not add a mark up on the price, |
| should be aware that this increases the total cost of | | | | which is what a dealer would do if he had bought it |
| the car as you must pay for the car plus the credit. | | | | first. Also, if you bring along your own mechanic, or |
| Once you have decided on how much you can put | | | | someone who knows about cars, you can have it |
| down, you can look at the annual percentage rate | | | | checked out to make sure everything looks ok. |
| (APR) of the loan and the length of the loan and see | | | | Before you buy the car, make sure you examine it |
| how much your monthly payments will be. | | | | with an inspection checklist. Get a good test drive |
| Generally speaking, the shorter the term of the loan, | | | | over varied road conditions and be sure to get the |
| the higher the APR. If you are in your teens, | | | | car's maintenance record. It is also worth having the |
| cosigning with your parents will help you to get a | | | | car inspected by a mechanic if you have serious |
| better rate. You may also want to think about paying | | | | concerns about it. |
| in cash for a less expensive car. | | | | Finally, before you buy, make sure you are ready to |
| Dealer or Private Sale? | | | | meet all the associated costs of having the car. |
| This is an important decision to make. If you buy | | | | These include insurance, fuel, maintenance and repairs. |
| from a dealer you will generally pay more. But you will | | | | |