Purchasing your first car is a significant milestone in life. It comes with mixed feelings– excitement, pride, and the occasional anxiety about whether you will buy the right car. You may also be anxious about owning the car because you’ll have to pay for fuel, parking, maintenance, and pay road taxes. But every college student dreams of owning a car. In fact, 48% of students have a car on campus. Looking to buy a car soon? Avoid these four mistakes when buying your first car:

• Failing to Research Your Target Car

Most college students are so excited about owning a car that they forget to do extensive research on different models. You don’t want to buy a car just because your best friend has the exact model only to find you don’t like its features. Before buying a car, search online for the latest models within your budget. 

If you have a particular model in mind, explore car stock images to see its features and color options. Read buying guides and expert reviews to learn the perks and downsides of the car. Walking into a car dealership with enough information gives you an upper hand when you’re negotiating the price.

• Ignoring Related Costs

Owning your first car is fun, but car ownership comes with many expenses. When setting the budget for the car, you need to include expenses such as fuel costs, parking fees, road tax, and maintenance fees. Knowing how much money you will need per month for the car helps you gauge if you can afford it. You’ll also know how much to allocate to each expense. Here’s an article that outlines the costs of owning a new car–and how to budget and save for it.

• Not Testing the Car

When you buy your first car, you expect it to be perfect and meet your expectations. But most people make the mistake of not trying out cars before buying. Do you walk into a boutique, look at a nice sweater, and proceed to buy it without testing if it fits? No? Similarly, you need to test drive a car before finalizing the deal or signing any documents. This is the time to identify which car feels great and which one doesn’t. It’s also advisable to compare cars in different dealerships and go with a mechanic to perform a pre-purchase inspection (PPI).

• Not Negotiating the Car Price

Salespeople can tell if you are a first-time car buyer or not. They will try to hasten the deal and act like they are giving you the best deal ever. If you want to get a good deal on your first car purchase, negotiate. Avoid buying right away, even if you think the deal is good. Compare prices from different dealers. Talk with the car salesman then return after a day or two and negotiate some more. Salespeople usually know who is serious and who isn’t and will lower the price if you’re serious.

Buying your first car is exciting, but you may get ripped off if you don’t avoid these costly mistakes. Do your homework, know the value of your target car, and negotiate. Moreover, don’t buy a car without first testing it.

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