Saturday, February 24, 2018

Tips for Buying a Used Car For Your Teen

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My daughter turned seventeen this summer, which (in the state of NJ) means she just got her license. Before we even left motor vehicle, she was ready to start car shopping. Teens tend to be impulse buyers, so it's important that parents guide their kids through this first big sale. Here are few tips that helped me during the purchase process.

Shop Around for Loans - If you need to get a loan, don't limit yourself to what the dealer offers you. Take the time to shop around and compare rates. I was able to get a car loan for my daughter from USAA for a much better rate than the local dealer offered.  

Consider Expenses - Remind your teen that the purchase of a car is more than just the loan. They will need to budget for gas, maintenance, and insurance. Insurance prices are especially high for teens,  and full coverage is required if you have a loan.  Make sure to get a quote with your insurance company before the sale so there are no surprises.


Get the Facts - Before you head to the dealership, do your own research online. Cars.com is a great website to get all the facts on both new and used cars. You can compare prices on vehicles in your area, look at loan rates, and even find articles with great tips like when you should consider an extended warranty.

Shop Around - Don't let your teen grab the first car they see just because they are overexcited. Encourage them to shop around and test drive a variety of cars to get the one that is just right for them. Price is a big consideration, but also look at condition, ease of use, and warranty options.  

Safety First - Remember that teenagers are new to driving, and are relying on you for instruction. Be sure to teach them about how to check the tires for air and remind them about oil changes. Once you find the right used car, have it checked over by a mechanic just to be sure everything is in order. You don't want a new driver to have any issues on the road. 

Do you have any tips to help teens find their first used car? 


6 comments:

Sunnymay said...

Doing research and bringing in comparisons of cars is the key to buying a new or used car. Cars.com is one site that helps in the car buying realm.

kdrae said...

Looks like a good website to do some research on the car before you buy!

Lauryn Rescoe said...

It definteily helps to have so many tools/options when looking to buy a used or new car! I love that this site lets you search for both.

Patricia Green said...

I agree that teens tend to be impulse buyers. My daughter turned 18 and wanted to buy a car. We told her that her Dad would go looking for a car with her. The next day she showed up with a piece of junk she spent over $2000 on. I'm going to share this post with her so that, hopefully, in the future, she will make better choices.

desitheblonde said...

first the kids would not have car till they got job and aford it for them self that way we were brought up i did not have car till i was in the 30s

Casey Garvey said...

I definitly agree that kids need to earn their own things, expecially a car! I also agree that shopping around is very imortant.