Buying your first car is an exciting time, it is important not to let that excitement sweep you off your feet into what could easily turn out to be a bad decision. Before signing on the dotted line here are some things to consider:
Small and sweet
Bigger isn’t always better, especially when it comes to fuel consumption! It is likely that you are looking at getting your first car at a time when you also have to keep a careful eye on your budget. One of the easiest ways to do this is to look for a small car that gets good mileage and fuel consumption. A smaller car is also likely to be placed in a cheaper car insurance bracket which will also help with that budgeting. As a side note, avoid cars that have modifications as these can drive up your insurance costs as well as the risk of theft. For example, the addition of a turbocharged or nitro engine can increase insurance costs by a whopping 130%!
Consider the Insurance costs
You cant get a car without considering what insurance will have to go along with it. Certain models of car will come attached with a hefty insurance premium, so it is wise to factor in the cost of insurance before picking out your first car. One way of potentially reducing the cost of your insurance is to add a more experienced and established driver as a named driver on your policy. Another option is to consider is Pay-as-you-drive schemes where the insurance company fits a device to your car so they can track your usage and can tell if you are regularly speeding and driving unsafely amongst other things. If you are confident that your driving skills are consistently something to be proud of giving this option a thought, but remember, the device track everything, becoming sloppy in your driving skills could easily lead to higher premiums!
Just because you have passed your test doesn’t mean that you know everything about driving. Sharpen your skills with additional courses such as the Pass Plus program or the RoSPA advanced driving test, not only will it increase your confidence on the road but it can help lower your insurance costs too. Think of it as professional development for your driving skills.
What will the resale value be?
Your first car is unlikely to be your last car. When it comes time to upgrade, the resale value of your vehicle will become very important to you! Choosing a car with an eye to the eventual resale value of it is an important aspect to consider. A Mini for example will retina high resale value as they are such a popular and sought after vehicle, regardless of the year it was made.