It does not matter for what reason at all, but the goal for most of us is to buy a car we can identify as ours. When buying a car or looking for a car to buy, there are a lot of important aspects to consider. One crucial aspect is timing. As a teenager, you might be considering if this is the most appropriate time for you to own a car.
There are a few things to keep in mind, which will help you decide on whether this is the right time for you to own a car.
The first thing you have to look at is financing. Are you ready to finance the cost of buying and later maintaining the car? Is your parent going to help you finance the purchase? Such questions will help you decide on whether or not you are financially ready to buy a car. If you do not have enough money, you can always borrow from a financial institution. As a teenager, this can be a bit difficult since you do not have a credit history. While a parent or a guardian can help by cosigning on your loan, it is important to consider the amount you
will be paying monthly and if it is possible for you to raise the amount without any problems. You should be able to pay your loan monthly and still have some money remaining to cover such costs as maintenance and gas for the car. Additionally, make sure that the repayment period does not exceed 48 months, so that the interest on the loan does not become unbearable.
Another thing to consider, is the experience you have as a driver. Do you have enough experience that allows you to drive safely and confidently? While you might be eager to own a car, it is important to consider whether you have learned enough to allow you to drive by yourself. Studies have shown that teenagers are 10 times more likely to be involved in a crash.
Best times to buy a car
If you are ready to buy a car, picking the right time to buy one can help save you a lot of money. Despite the make or model you are planning on buying, car prices seems to change based on different times of the year.
At the end of each quarter, you can easily get a good deal on the car you want. People take advantage of these times since car dealers are usually anxious to attain their sales targets. This is usually at the end of March, June, September or December.
Holidays are other times that you can get a good deal on a car. During holidays such as Thanksgiving and Independence Day there are numerous advertisements on car deals that could help you save a lot of money. While most people are not aware or interested in cashing in on these deals, they can help you get a good car at a very fair price.
Considering the above issues can be very helpful, especially if you are a teenager buying your first car. It is a big deal and it is important to make sure that your life goes on normally even after you make the purchase.