Our Guide to Buying Your First Car
If you’ve bought a first car, you’ll know what I’m talking about. It’s the excitement of new wheels and freedom from buses, your parents or (in many people’s case) that awful push bike. Often, when shopping for your first car, you can’t help but think of all the things you want to do with it. You could simply drive to your friend’s house to show it off, or through the maccas [Translation for international guests: McDonalds] drive through, or simply drive it to school or uni and enjoy paying for the ridiculously priced parking (just the once though).
Buying a car isn’t always so romantic and often it is a minefield of stress and anxiety. You’ll ask yourself questions like; is this the right car for me, will it make it home without breaking down or will my mates approve?
To avoid buyers regret, take a look at some of my advice below.
Want vs. Need
The first thing you need to think about is what you want and more importantly, what you need. Although that little European two door looks sexy in red, with cool wheels and leather interiors, it might be unconventional to your needs. Perhaps you need to fit a surf board on top of your car, a bike on the back, or maybe you need more passenger seats. In this case, the sexy European two door probably is your best bet. Not to mention, it could cost the earth to insure (even if the car was cheap initially). I’ve listed a few things below to help you tackle the want vs. need category.
Consider lifestyle: If you do a lot of sports or travelling, you’ll probably need a car that can fitted out to fit all of your equipment.
Consider kilometres to travel distance: Where and how far will you need to be driving? Will you simply be commuting, getting around on the weekend or will you be making regular trips to the Nullarbor plains? Long haul drivers should consider cruise control and comfortable seats. However, commuters may suit that sexy European car that has suspension like a wooden chair.
Consider your friends: This sounds like a silly consideration, but if you don’t plan on being designated driver for the rest of your life, that sexy two door (or even a ute [Translation for international guests: pickup] or Smart Car) may be perfect for your needs. If you don’t mind the company, make sure the back seats are comfortable before you buy the car. You might not need a mini bus just yet, maybe just a four door sedan will work. [Warning: if buying a ute, you might need to get good at lifting furniture or saying no to mates that are moving].
Consider destination: City vs. country driving is an important consideration when buying your first car. If you’re originally from a rural area, you will most like consider this in your decision making but city slickers have to be aware of this in their decision (especially adventurous ones). So the question really comes down to four-wheel drive vs. SUV. If you intend to go camping in the bush regularly then maybe that SUV is justified. If not, consider a car without such high ground clearance. If you live in an area with bad roads and it rains a lot, consider a car with all-wheel drive or at least traction control. That said, having an SUV for just one trip a year, is a little like wearing gum boots all year round in case it rains. Make sure you get the most out of your car. The more you think about what you need your car for, the less likely you will have buyers regret and it cost you money later on.
Consider safety: It should go without saying, that you need to buy the safest car within your budget. Check out howsafeisyourcar.com.au or redbook.com.au, to research the car you want to buy. No point thinking it’s got electronic stability control by mistake and then parking your new pride and joy in the neighbours pool on the way home, only to find out it the hard way it doesn’t have an air bag either. If you can get ABS and some form of electronic stability control with air bags you are on a good start. Aim for a 5 star ANCAP safety rating if possible. If you’re not sure what all these things are, it’s probably best to google them! Also consider taking a defensive and/or advanced driving course to help you become a better, more prepared driver.
Getting a Mechanic to Check for Your First Car
Get a qualified mechanic to check out the car your intending to buy; not your mate who changed his oil that one time, or your dad or that used car salesman. A mechanic, or at least a mate that’s a second year apprentice mechanic should do the trick. Do some research on the car you are buying too, so you can be aware of any issues that the particular model might have. For example, some convertibles have a nasty habit of leaking like a sieve in the rain after a few years, other cars just don’t stop.
Cost of Your New Car
If you're like me, cost will be a major factor when buying your first car. There is an old saying, if it’s got tyres then it will cost money, now and later!
Consider Bang for Buck and performance for value: It might be cheap, but if it takes a year and you need to use premium fuel to get to 80 kms an hour, it might be worth spending a little more and getting a car that will get up your friend’s steep drive way without much effort. That said cars are a depreciating asset which means they almost always loose value over time. So don’t go borrowing your maximum credit limit for a car and try to ensure you are not paying it off long after you’ve sold it. As a general rule, keep your car loan balance below the value of your car and keep the value of your car affordable. No point working extra hours to afford that little BMW with the turbo, if you never get to drive it because you’re always working.
Consider cost to run value: Check redbook.com.au and have a think about the average fuel economy of the car, adding 30% to give you a closer idea of worst case scenario. Consider cost of tyres and servicing. Those sick looking 20 inch wheels could cost a small fortune to put rubber on next time and parts for that cute hybrid car could cost you your kidney. Do some research, it might just save you some coin.
Consider cost to insure and register your car: Get some quotes from a few insurance companies and look up the cost of registration so you know what you’re in for.
Consider the cost on the environment: If this is an important aspect for you then look it up. Many websites contain information on vehicle emissions and this might help your decision. As a guide, check fuel economy; generally speaking, the less fuel, the less emissions. But keep in mind the age of the car and how many kms its already done, as this will change the level of emissions. A word of caution, alternative fuelled cars like those that use gas, ethanol blends and electricity might seem great, but you can’t always get those fuels at every servo (same goes for cars that only take 98 premium). So consider where you will be taking the car, that little plug in electric scooter might need to stay between your house and the local coffee shop.
Upgrades and Personalisation
Consider what you might need to spend on your new or used car to better fit your needs or simply make it yours. Will a set of fluffy dice do the trick or will you want a roof rack, driving lights, snorkel and a surround sound system with twin sub woofers? Consider your upgrades and personalisation with the same bang for buck (will I really need this?) mentality.
To recap, think about what you need in a car, think about where you will go in a car and think about the cost to get you there and who you want to be with when you are there.
Maybe you just need to buy a motorbike.... but that’s another story.
