Handy Tips on Buying a Car When You Are in College
Once you get a car, it is very hard to manage without it. Unfortunately, the car is not an everlasting machine, and it tends to break down. Sometimes, it is impossible to fix it, isn’t it? As a result, you need to look for a new one. So, here are some tips on getting the best bargain.
Buy a used car
Not everyone is rich enough to buy a brand new car spending a lot of money on it. However, you can always look for a used one that is also a good investment of money. It is recommended to aim for a car that is 2-3 years old, since it value depreciates. As a result, you are able to get a car that is almost as powerful as a new one but at a lower price. Besides, you won’t need to pay too much for an insurance, because it will also be less expensive. My advice is not to try having the newest car as it is more important to have a reliable one.
Why not refer to a dealer
You should be very lucky to buy a car directly from the owner and should not waste lots of money so as to fix it up in the future. I believe you don’t want to risk being a college student. Thus, it is better to turn to a dealer, who can give you a guarantee that the car is less likely to have any problems.
It is highly recommended to pay cash whenever you buy a car. It is always a better deal when you pay cash. If you can’t afford to pay cash, you had better hold off on buying a car in order to save enough money.
If you must finance, do not turn to the dealer because you will end up paying more than you are supposed to. Keep in mind that dealers never finance cars. Instead of that, they find a bank to finance your car, which means that you get a high interest rate. Thus, I’d suggest going to the bank directly so that you get your own rate.
A better way to finance a car is to ask your family and relatives to provide low-interest or, if you are lucky, interest-free loans. Believe it or not, it will work for you, since you are a college student. Additionally, your parents will probably be keener on giving you a loan if you establish a systematic way to return all the money back.
Get a second pair of eyes before making your final decision
Before buying a used car, it is strongly recommended to get the opinion of someone experienced. Ask someone who has already bought a few cars to help you choose a car. Getting a second opinion won’t be spare when it comes to buying a car.
So, if you have made up your mind to buy a car in college, follow these tips.