Buying your first car plays an integral part in the way you make other big life decisions. Not only will owning a car teach you how to maintain a vehicle properly, but it can also transform you into a more responsible and mature person. However, knowing the true cost of investing in a car is one thing; applying for and paying off loans, budgeting, car maintenance, and awareness of everything else that comes with being a car owner are different matters altogether. Take note of some important things you need to know before thinking of getting your first car.[/et_pb_text][et_pb_text _builder_version=”3.19.13″]
Plan your finances
You’ve heard it a million times before: The best way to buy a vehicle is with cash. But not everyone has the financial capacity to pay for a car in full upfront, so saving up for your down payment first is a sensible option. Open a BDO
Peso Savings Account and set aside a portion of your income every pay day so you can put down a sizable first payment. When applying for car loans, it’s worth keeping in mind that you have to be as realistic as possible. Sign up only for what you can afford to pay every month. Tip: Try applying for a China Bank AutoPlus vehicleloan. You’ll have longer payment terms with low interest rates and monthly amortization.
Consider entry-level cars
Buying your first car doesn’t necessarily mean getting the latest model. Sometimes, entry-level cars are the better option. Aside from being economical, you can definitely save tens of thousands of pesos when you choose a model that’s more budget-friendly but still very handy. Hyundai Eon and Suzuki Celerio are two of the best and affordable entry-level cars that you can get for just P10,000 or less every month. Buy small, save big.
Get useful car accessories
Whether it’s for entertainment or safety, you can always opt to dress up your first vehicle with accessories such as builtin subwoofers for a better sound system or a car cover to protect its paint from getting damaged. Blade and Concorde offer low-cost car accessories that can ease your driving concerns and will keep you on the go.
Again, buying a car is not just about having the means to pay for it. Fully understanding and following traffic rules and driving ethics are the responsibility of every car owner and driver. Take driving lessons first before purchasing a car. The knowledge you’ll acquire will make you more confident and comfortable behind the wheel. Try enrolling in driving schools such as A-1 Driving and Smart Driving as they can help you gain that must-have confidence on the road. Aside from learning from certified professionals, driving schools also provide modules on car maintenance and troubleshooting.
Visit an SM Supermall near you![/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]