Tips for Saving Money on Buying and Running Your First Car

Shopping for a car for the first time can be a very daunting experience – with so many different car manufacturers and models to choose from, all offering different advantages and features, it can be difficult to determine whether you are making the right choice for your needs. When you buy your first car, there are several different things that you’ll need to consider – these include the cost of buying the car initially, how much it’s going to cost you to run and insure, and whether the car that you’ve chosen is suitable for the type of driving that you’re going to be doing in it.

Along with that, you’ll also want to make sure that you’re saving as much money as possible without compromising on features and usability. We’ve put together some top tips to help you save money when buying your first car.

Tip #1. Opt for a Used Car

When it comes to the initial cost of purchasing your first vehicle, one of the easiest ways to save yourself some cash is to opt for a used car rather than purchasing a brand new model. In general, you can often save thousands simply by picking out a car that’s been driven for a while before, rather than heading straight to a dealership for a car that’s not yet got any miles on the clock. The good news is that there are several advantages to buying a used car, with numerous options available with low mileage and a great record, such as these used Hyundai i20 options.

Tip #2. Work Out the Running Costs

When buying your first car, it can be so easy to get caught up in saving money on the initial purchase that you might neglect to think about how much your car is going to cost you to run. There’s no point in working hard to save money on buying your first car, only to find out that the make and model you have chosen is going to cost you a lot more to insure or doesn’t have great fuel economy. Because of this, it’s a good idea to research your options beforehand and determine how much you can expect to pay for things such as fuel, insurance, tax, and regular maintenance. It may be better to spend a little more initially on a car that’s going to be cheaper to run in the long-term.

Tip #3. Consider the Cost of Parts

Whilst saving money on the initial cost and long-term running of your car is great, the last thing that you want is a car that’s going to drain your bank account if it in needs repairing. This is especially true if you are a new driver since newer drivers tend to be statistically involved in more accidents, so there’s a higher likelihood that you’ll be paying for new car parts and repairs as a driver. Do some research into the cost of new parts for the cars that you’re interested in buying before making a decision.

Did these tips help? Let us know in the comments.