Buying a car as a first time buyer
This could be one of the toughest decisions that you have ever taken. Buying your first car is not an easy fit. This is due to the fact that they are a lot of things to consider when buying a car. Buying a car can be an achievement especially if its your first car. The idea of getting a car can be exciting but I will suggest you do a little research before deciding which car you want to buy and the amount you want to spend on a new car.
Buying a second hand car as a first time buyer.
Buying a second hand car as a first time buyer is actually very common. This is due to the affordable nature of second hand cars. Its financially advisable to always go for a cheap second hand. Cars lose a lot of value within their first 5 years from the car sale. Getting a quality second hand will be easy in most places. However you need to be willing to fork out the money to maintain the car in the long term. Second hand cars usually have a lot of breakages.
Its also advisable to buy a second hand with cash rather than taking out a loan. It will save you a lot of money. Car loans usually have a higher interest rate. This means that you will have to pay back more money for an asset that rapidly depreciates in value.
Buying a new car your first time
Buying a new car as a first time buyer is very hard. This is due to the fact that new cars often cost a lot. Most people who buy new cars often take out a loan. In some countries its actually called financing.