| Whether you are 16 or 40, the experience of buying | | | | 4. Calculate your maintenance costs each year. |
| your first car is one filled with anticipation, excitement | | | | 5. Find out how much insurance will cost you each |
| and even confusion. There are so many different | | | | year. |
| models of cars on the market you may find you feel | | | | By calculating these five figures, you will have a better |
| lost in the sea of makes and models. The good news | | | | idea about how much to spend on a car. When you |
| is you do not have to be a car expert or mechanic to | | | | buy a new car one of the first steps you will take is |
| learn as much as you can about cars. Here are some | | | | securing insurance for your vehicle. Car insurance is a |
| important things to think about when buying your first | | | | must for anyone with a car, whether a new or used |
| car: | | | | car. Most financed vehicles will require comprehensive |
| 1. How much do you have to spend? | | | | coverage. Comprehensive coverage will cover the |
| 2. How many people will drive your car? | | | | total cost for replacing a vehicle in the event of an |
| 3. Are you looking for a compact or larger model car? | | | | accident. If you do not have to finance a car and can |
| 4. How much are you willing to pay for gas? | | | | buy it outright, you may be able to reduce the amount |
| 5. Do you need a new car, or will a used car do? | | | | you pay in insurance. |
| Answering these five questions will help you set the | | | | Most people however, will have to finance their car, |
| foundation for buying a new car while armed with | | | | thus you will likely buy a policy offering the maximum |
| knowledge. Aside from deciding the make and model | | | | amount of coverage. Shop around with various |
| car you want, you will have to calculate how much car | | | | insurance companies when looking for a car to see |
| you can afford on a monthly basis. The biggest | | | | who can offer you the best price. Just as you would |
| mistake first time car buyers make is failing to | | | | search for the best price when buying a car, you |
| calculate gas expenditures and expenses they will | | | | should also shop around for the best deal you can get |
| incur getting routine oil checks or car maintenance. | | | | on insurance. |
| The best way to calculate the overall expense of | | | | You may find you can also lower your insurance |
| owning a vehicle is to: | | | | premiums by buying one model of car over another. |
| 1. Figure out the base price of the car. | | | | Keep this in mind when selecting the model car you |
| 2. Find out what your monthly payment is if financed. | | | | want to buy. You may opt to buy a different model |
| 3. Calculate the amount you will spend in gas each | | | | based on how much it costs to insure your car. |
| month. | | | | |