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How Not to Get Ripped Off When Buying Your First Car

How Not to Get Ripped Off When Buying Your First Car

Cars aren’t something you change every week—once you decide to get your very first one, you should do it properly. There’s a lot of people out there who want to take your money and give you something not as valuable in exchange, which is why you need to be careful.

First of all, you should understand the fact that this project isn’t difficult and that anyone can get a nice vehicle. It doesn’t really matter if you’re not that knowledgeable when it comes to cars or not. That being said, you should go through the next six steps of buying your first car.

Limit Your Budget

You need to be realistic about this; so my suggestion is to give it some serious thought. When getting your first car, you should know that its price isn’t only about what the money you give to purchase it—owning a vehicle will add a certain amount of money to your monthly bills because you’ll have to pay for gas and repairs as well.

Therefore, when you’re trying to decide on a budget, you should make sure that you will be able to afford maintaining your new car.

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Decide On A Model

    Naturally, your budget will determine the quality of your car, but you should also think about what kind of model you are in need of.

    If you need a family car you should go with something spacious like a caravan or a van.

    On the other hand, if you need a vehicle for yourself to drive to work you don’t have to overthink; get something that doesn’t spend too much gas and that you find comfy.

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    This is the part of your project where you need to do research, so take your time so that you can learn about vehicle specifications in order to find a combination that works for you.

    Test Different Vehicles

    The best way to be certain about your decision is to test every vehicle that you consider purchasing. Do so several times per vehicle. Many people find it uncomfortable to go to the same car lot over and over again and ask to test the same vehicle; this is a feeling you need to shake off right away.

    This is not the time to be shy. Getting your first car is an investment into your your future and you should take it seriously, which is why you should get back and test different vehicles as many times as you consider necessary.

    Find A Nice Car Dealer

    Know that a car salesperson works on commission and it’s in their interest for you to agree on a bigger amount of money so that they can earn more. This doesn’t meant they are out to get you; it’s simply something to be aware of.

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    Know The Pros And Cons Of A Car Loan

    If you have credit issues, you should know that you’re not the only one (quite the contrary). So if you’re thinking about getting a loan for your car, make sure to get familiar with the pros and cons so that you know exactly what to expect in the future.

    Used Cars Need an Inspection

      When you set your mind on purchasing a used car you should put another thing on your to-do list: finding a good mechanic. The fact that a vehicle is used doesn’t imply that it’s not in good condition, but you should be extra careful about it and make sure that it goes through a thorough inspection by someone you trust before you sign anything.

      You May Need To Haggle

      I saved the most difficult for the end—this is something you either have in you or you don’t. If you’re like me and get embarrassed at the mention of money, you’ll need help with getting a car from someone who’s highly capable in negotiating for you and lowering the price until it’s reasonable.

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      I know this sounds scary when you lack the necessary experience—the only thing you need in order to complete this project successfully is time. When you take things slow, go through all of your options and do your research properly you will manage to get yourself a vehicle that meets your needs.

      Image Credit: Car in the snow via https://www.pexels.com/photo/car-road-snow-winter-12875/ Woman on car via https://www.pexels.com/photo/woman-in-white-shirt-laying-on-green-car-hood-29842/

      Featured photo credit: Pexels.com via pexels.com

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      Last Updated on January 21, 2020

      How to Develop a Millionaire Mindset in 6 Simple Steps

      How to Develop a Millionaire Mindset in 6 Simple Steps

      We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

      It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

      How do you go about developing that millionaire mindset? By following these simple steps:

      1. Focus On What You Want – And Take It!

      So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

      Millionaires play to win, not to avoid defeat.

      This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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      2. Become Goal-Orientated

      It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

      Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

      Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

      Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

      You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

      If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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      If you are to become a millionaire, you need to start accumulating money.

      Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

      3. Don’t Spend Your Money – Invest It

      The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

      Stop working for your money and make your money work for you.

      Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

      There’s not just the stock market — there’s also property, and your own education.

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      4. Never Stop Learning

      The best thing you can invest in is yourself.

      Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

      Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

      Learn everything you can about how economics works, how the stocks markets work, how they trend.

      Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

      Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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      5. Think Big

      While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

      There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

      Aim for the stars, if you fail you’ll still be over the moon.

      6. Enjoy the Attention

      To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

      Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

      If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

      Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

      More About Thinking Smart

      Featured photo credit: Austin Distel via unsplash.com

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