Thinking of buying your first car? Here are 5 things that you must keep in mind before you buy one, Do Read

First Car: A first-time car purchase may be both thrilling and intimidating. Like with so many other financial decisions, planning and research can assist you in making the best option possible. In this article, we'll give you 5 tipes that will help you make an informed decision.

5 things that you must keep in mind before you buy your first car

1. What kind of car should you go for?

As you begin the process of buying a car, you might start by deciding what types of vehicles best suit your lifestyle and the characteristics you'll find most useful. Make a list of questions that are tailored to your unique driving requirements. Your responses should be able to assist you in creating a short list of potential vehicle sizes and types.

2. Should you buy a new or used car?

First-time car buyers now have a choice as the used car industry becomes more organised. Two well-liked and dependable platforms are offered by Maruti and Mahindra & Mahindra, with Renault joining the group. An old sedan with quite good features might be purchased for the same price as a hatchback.

3. Know the costs of keeping a car

The possibility of purchasing the latest car frequently seduces young workers with easy access to finance.
Instead of utilising all of your extra money to buy a car, you should consider the total cost of ownership when you look for one. The goal is to create a sensible budget.

4. Take a test drive before you buy

After choosing a vehicle, go for a long test drive and pay attention to "the seating position, the visibility out of the windows, and the sound of the engine."

5. Do not overspend just because you can get a loan

Calculating your monthly loan payment and the total loan amount that fits inside your budget is the first thing you should do.