What is important when buying a car, you will find in our tips! This may well be worthwhile, as some banks offer discounted car purchases. You can drive a car that you can not afford without a lease. The financing costs are distributed over the useful life. If you finance your cars with a loan, you become the owner of your car, it is yours.
First car: beginner tips
Buying your first car is not only incredibly exciting, but also very tricky. Read in this article: Select a car: Find a car: Private seller or dealership? Autofinancing: Financing through trade or cash? Tip: Use our free downloadable material at the end of this post and press the “Auto Purchase Advice” list to keep track of the essentials of looking at a car!
The first car: which is the first? The differences to a new car are often barely noticeable in appearance and aesthetics, but the cost and value losses are much lower. Note: The first car is often especially difficult to pay. In the case of balloon financing, the borrower only has to pay the monthly installment. If you want to buy a car, you have the choice between a “private” car and a car from a dealer.
Car dealerships scrutinize the cars before they buy them – because the dealer wants to know what he has. This has the advantage: Who buys from a dealer, learns of any errors and imminent repairs before buying. In addition, distributors are legally required to provide a used car warranty (for two years, possibly for one year).
A private provider does not guarantee.
A big plus point when buying a car “from private” is again the cheaper purchase price: According to estimates of the German Automobile Club, prices for a private provider are on average about 8 percentage points below the prices for a dealer! This difference amounts to a purchase price of eg 10,000 USD 800 USD.
Dealers must include additional fees in a sell-off not made by a private seller. This does not make the car dream a nightmare. But you finance your first car: retailers as well as private sellers prefer to go shopping on the spot – without waiting for a receipt.
With a car loan, whoever expects quite adverse conditions here, is well served again, as this can be used to secure the car! Some retailers finance themselves. But this is hardly cheaper than a single calculated online loan: With a purchase price of 15,000 USD, the dealer provides 3.2 percent financing over 60 years.
In this calculation example, the customer must pay the dealership 16,251.93 USD, with a monthly fee of 270.87 USD. Who now negotiates a 10% cash discount, is clearly better served by an auto loan, because in this case the monthly fee is 251.68 $?
“So if you use a part payment loan, auto loan or fast loan instead of dealer financing, this example will save you $ 1.151.09. The first car: What do the experts pay attention to? If you already have some experience buying a car, look not only at the car but also at the dealer. Stay relaxed and relaxed – and do not let go of your lust right away if you like the car.
So you have good prospects to have your dream vehicle at a favorable rate. This checklist gives you an overview of the most important aspects you should consider when buying a car to detect errors early. This gives you a good basis for negotiating to achieve the best value for your dream vehicle.