How to Pick Your Very First Car

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Once you’ve passed your driving test, you’ll be looking forward to buying your first car. This can be an exciting time: you’ll finally have the independence and freedom that comes with being able to drive wherever you want, whenever you want. But with such a significant investment comes plenty of considerations. Below, we explore how you should pick your first car. 

Buying second-hand

New cars can be a poor asset to invest in for a new driver. Indeed, within three years the average new car will lose 40 to 65 per cent of its original value. This level of depreciation can be difficult to afford – your asset will be diminishing at a rapid rate. Often, it makes more sense to buy second-hand. You can still get a quality vehicle, but it’ll cost much less, and it’ll proportionally lose less of its value. For instance, if you buy a used Citroen, it’ll make more financial sense than buying a brand-new vehicle. 

Financing

One of the main considerations when picking your car is whether you’ll go for a finance package. Rather than paying for your car up front, this is where you pick a structured deal where you pay for the car in instalments. Alternatively, you can finance your car by simply leasing it with monthly payments rather than paying to own the car – this reduces the monthly fees you have to pay, although you won’t have an asset in the end. Finally, you could also try a personal loan: this is where you can a loan from a third party – be it a bank or a different lender – and use this sum to purchase the car outright. 

Safety

As an inexperienced driver, safety should be a priority. In the unfortunately of an incident, an especially safe car could help you avoid an accident or limit the damage. You can determine the safety of a car through the Euro NCAP safety rating. This independent authority provides a safety star rating for many vehicles. By picking a car with an excellent rating, you can also lower your insurance costs.

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Insurance quote

The final step is compare car insurance quotes to get the best policy for your needs. After all, you can’t legally drive unless you’re insured, and your car is registered. To get the best quote possible, you should pick the right vehicle: smaller, less powerful cars are usually trusted more by insurers and can lead to you getting a lower quote. 

Picking your first car is an exciting but important decision. And by following the advice above, you should be equipped to pick a car that makes financial and practical sense for you as you begin your first journeys on the road.

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