For 1st time car buyers, this one is for y’all

While buying your first car it is very important to overlook everything. Buying your first car can either be the best thing or worst thing that’s happened to you if you aren’t careful with your choices. It is a very stressful concept because of the amount of responsibility it come with buying a car like car insurance but we will talk about that later on in the blog. Owning is set to be more preferable than leasing your vehicle. You’re more likely to get a better deal with a credit union or a bank than you would with a dealer. Used cars are almost always the better value, when buying a new car it loses 20% of it’s value within the 1st year! You have to make sure the difference between want and need. Smaller cars tend to need lower gas  mileage and cost more to insure.

1. Budget because first time buyers tend to have to pay more (finances)
2. While paying in cash is ideal… most of us don’t have that option
3. You can take out a traditional loan and make payments + interest
4. Another option can be what you call, leasing the vehicle (2-3+ years) but have to trade back in for a newer vehicle. (Renting)
5. Consumer reports show that owning a car is more financially better than leasing
6. Simple formula: Ex: 5 year car loan  20$/month for every $1,000 you borrow

So if you borrow 10,000 you would be paying roughly about $200

“Sweet Spot” is when your car is less than 2 years old
https://www.youtube.com/watch?v=y3e4yfMOQ0M&index=11&list=PLvdeRYvP0yPXq_XulO_dtHEAukwE_Hb-5
(Jennie H)