First Time Buyer Tips

This Chapter is very important to a buyer looking to purchase a vehicle for the very first time.
There are so many mistakes that a person can avoid by reading this whole chapter before they even think about buying!

Now that you know what it take to purchase a vehicle as a first time buyer, continue reading the steps in Chapter 2!

Chapter 2 Steps

If your parents are willing to co-sign, let them. If you follow the steps in our guide plus the interest rate of a co-signer with excellent credit, you'll be on the way to having great credit yourself plus you will save!

If you're a first time buyer with no established credit, there are a few ways for you to purchase a vehicle. But before we get into those, you have to make sure that you understand what you are getting yourself into. Are you prepared to make a monthly payment plus an insurance payment? Are you ready to pay 80-100 dollars a month in gasoline? Can you afford the maintenance associated with owning a vehicle? You have to make sure that you make a calculation about how much you will be spending monthly before you jump in. Okay so you are ready to buy. Here's what you should do. Pull your own Credit History Report and learn to understand how it works. Make sure that you know exactly what is on your credit bureau. Get a few price quotes, even if it's on a pretend vehicle so that you can get an idea of what full coverage is going to cost you or to see if you plan on putting it under your parents insurance plan with you as a driver. Purchase a vehicle where you can get a loan for 48 months or under. Make sure that you put at least 20% down so that you don't end up - upside down. This means that you will owe a lot more than what your vehicle is worth 6 months, 1 year or more down the road. Think about it, 48 months is 4 years. 4 years of driving the same vehicle everywhere you go. That's right, first time buyers are usually young people. Not too many 19 year old will want to be driving the same car when they are 24 or 25 years old.

1. How to Budget Make sure that you don't spend more than you should.

2. Choose Vehicle Car, Truck, SUV or Van? 2-door, large, third row?

3. Trade In? Should you trade or sell your vehicle outright?

4. Car Shopping Find out where you can get the best prices online.

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CHAPTER 2