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Car Buying Tips for First-Time Buyers: What You Need to Know

  • October 2024
  • Premier America

Buying your first car is an exciting milestone, but it can also feel overwhelming with all the options and decisions to make. From finding the perfect ride to securing the right financing, there are several key factors to keep in mind as you shop for your first car. At Premier America, we want to help make your car buying journey as smooth and stress-free as possible. That’s why we’ve put together six essential tips for first-time car buyers, along with how our great low auto rates can help you get the best deal.  

1. Set a Budget and Stick to It 

Before you start browsing (and falling in love!) It’s important to set a budget for yourself. Consider how much you’re comfortable spending monthly, not just on car payments, but also insurance, gas, and maintenance. Use our car payment calculator to estimate your monthly payment based on factors like down payment and loan terms. At Premier America, we offer flexible financing options to help you stay within your budget while helping you get the ride you need.  

2. Research the Right Car for Your Lifestyle 

It’s tempting to go for that sporty car or luxury SUV, but it’s important to choose a vehicle that fits your daily routine. Are you commuting long distances? Do you need room for the whole family or space for weekend gear? Whether you need a fuel-efficient sedan or a reliable SUV, doing your research will help you make a smart choice. Plus, Premier America’s low-rate auto loans can make that perfect fit more affordable.  

3. Get Pre-Approved for a Loan 

Before heading to the dealership, get pre-approved for an auto loan at Premier America. Pre-approval gives you a clear understanding of how much you can borrow and makes it easier to negotiate and avoid surprises at a dealership. And with our low rates, you'll have more confidence when making your purchase, knowing you're getting a great deal.   

4. Factor in the Total Cost of Ownership 

The price tag on the car is just the beginning.  As a first-time buyer, consider the total cost of ownership, which includes insurance, fuel, regular maintenance, and potential repair costs. Some cars may have lower upfront costs but higher maintenance expenses, so be sure to look at the bigger picture. Additionally, consider the car’s fuel efficiency to estimate how much you’ll spend on gas over time. 

5. Consider Buying Used or Certified Pre-Owned 

Buying used or certified pre-owned (CPO) vehicles is a great way to save money without compromising on quality.  CPO vehicles come with warranties and have been inspected by the dealership, offering some peace of mind at a lower price. Plus, with Premier America's flexible loan options and low rates, financing a used car has never been easier.  

6. Take Your Time and Don’t Skip the Test Drive 

It’s easy to feel rushed when buying a car, especially if you find something you like right away. But take your time—don’t feel pressured into making a quick decision. A test drive is an essential part of the process. Take the car on different types of roads, listen for any unusual noises, and pay attention to how it feels to drive. This is your opportunity to see if the car meets your expectations in terms of comfort, handling, and overall performance. Also, make sure you’re comfortable with the features and technology before signing on the dotted line. 

At Premier America, we’re here to support you at every step of your financial journey, especially when it comes to buying your first car. With our great low auto loan rates and personalized service, we make financing your vehicle easy and affordable. When shopping for a car, running from dealership to dealership can be exhausting and time-consuming. Fortunately, Premier America Credit Union offers a simpler way through the DriveWise Concierge Auto-Buying Service.  

With DriveWise, you can locate your ideal vehicle, have the price negotiated for you, and take advantage of manufacturer rebates and incentives. The service also coordinates financing and arranges for the delivery of your vehicle directly to the credit union. Plus, when you buy your next car through DriveWise, they’ll make a contribution to a charity of your choice, making your purchase even more rewarding. Happy car shopping, and we look forward to helping you get behind the wheel!