Things to Know Before You Purchase Your First Vehicle

There are many things you should think about when getting ready to purchase a vehicle. For instance what type of car do you need? How much do you want to spend? Will you have a down payment?

To help narrow down the kind of vehicle you wish to purchase read how your vehicle selections rate. For information about vehicle safety features, crash test ratings, and recalls see the National Highway Traffic Safety Administration website at http://www.nhtsa.dot.gov/.

For safety ratings check out this site: http://www.safercar.gov/

Some other things to take into consideration are where will you purchase the vehicle? Will the car have a warranty? Don't get fooled by scams.

Now you are ready to begin shopping seriously. The next thing you need to consider is CARFAX. It is very important to know the history of the vehicle you are planning on purchasing. CARFAX is a detailed history report of a vehicle. It will provide you with important information about the vehicle including hidden problems. The report will show information such as whether the vehicle has been in an accident, if it was a rental, if the vehicle was rebuilt or salvaged, or if it has been a fleet car. Additionally, due to recent national flooding, in 2005 CARFAX added a flood alert advisory to their reports. The flood report will inform you if the vehicle was registered in a flood zone.

Once you have selected a potential vehicle ask the dealer for a CARFAX. If you are not purchasing from a dealer, obtain your own carfax. To do so you will need the VIN (Vehicle Identification Number). You can obtain your own CARFAX at www.carfax.com.

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Some other tips on financing your purchase:

Save for a down payment A down payment is how much you pay in cash when you buy a car. The bigger the down payment, the less you borrow. Then your monthly payment and interest charges on your loan are less too.

Find a co-signer A co-signer is someone who agrees to pay back the loan if you don't. Often, a parent or an older sibling will co-sign for you.

Get the best loan Arrange your financing with your credit union before you look at cars. This gives you the upper hand when dealers try to sweep you off your feet with their "special low-rate financing" (based on a higher sticker price).

Have a plan Ask your friends or family members how much they pay for insurance, gas, oil changes and repairs, so that you can get an idea of what your car will really cost you. Then work out a budget for paying the loan and other car expenses.

Once you've purchased- now what? You need to maintain your vehicle. The following link will give you some pointers/suggestions on what you should do to help maintain your car and ensure its longevity. http://auto.indiamart.com/auto-maintenance/general-maintenance.html.