As parents we want what is best for our kids. This means we research and check everything that they do. So why should buying your teen’s first car be any different?
After all this is a big step in them becoming independent and responsible adults. So you want to make sure you help them make the right choice.
To do that you can follow a few simple tips that can help both you and your teen find the perfect new car.
Educate
Though it’s important to buy a car that is safe it’s even more important that your teen learns to be a safe driver. Consider having them take a driver education class. Because no matter how safe and secure a car is, it’s in the hands of the driver to stay out of danger,
Research
When you finally decide to buy your teen a car educating yourself and your teen is important. Research is one of the best ways for this. Start by asking friends and family who have bought cars for their teens what their thoughts are. Then head online and do some in-depth reading. Sites like Car.com are very helpful in finding information. Most importantly know what kind of car you want and what your teen will be using it for.
Budget
Consider what you can afford to pay. Buying a car for your teen is an added expense not just on the initial purchase but also about your insurance going up plus the added expense of future repairs and maintenance. Then there is the added gas expense. If your teen is sharing the expense make sure it fits in their budget as well.
Pre-Approval
Once your budget is set get your car loan pre-approved. The right financing can save you thousands and eliminate stress for you and your teen. Getting preapproved for a car loan secures your loan amount and interest rate before you go car shopping. That means no negotiating with a salesperson on the financing, which saves you time, money, and hassle. Even if you plan on buying a used car from a private seller, it’s a good idea to be pre-approved so that you know exactly what you can afford.
Take a test drive
Bring your teen along so that both of you can get a feel for the car. And don’t just cruise around the block. Hit the highway, find some challenging curves and grades—in other words, put the vehicle through all the paces you would in a week of driving.
Have you purchased a car for your teen? What are some tips you can share about buying your teen’s first car?
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