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Re: What to consider while buying a used car and its long term effect on my finance(I am a new driver)?
it's good that you are aware that there will be other costs to vehicle ownership other than the initial cost of the vehicle . I see many times, people just look at the cost of the car and forget items like the insurance and fuel, etc. The vehicle you purchase also can dictate the other charges associated with the car such as the type of vehicle can determine the insurance coverages. You can keep those costs down by getting a small economical car ( which also factors in to a lower fuel cost.)Also keep in mind that the more options a vehicle has can raise the costs of upkeep should they need to be repaired. The type of vehicle can also determine the registration and licensing costs involved in getting your vehicle on the road. Many used vehicles for sale today are more reliable than their predecessors of 10 to 15 years ago which helps keep the costs of spare parts down. Check out reviews of used cars and owner's reviews to get ideas of what the particular vehicle may need to keep it running as some models may require more maintenance and the parts may cost more as well. When maintaining a car , doing some or all of it yourself (if you are able to or a quick learner) can keep those costs to a minimum as well. If you need professional service on your vehicle keep in mind it costs a lot more to take it to a dealership than a independent garage. Ask around your family, friends and neighbors for suggestions for a reputable garage. Depending on your situation , you also may have to factor in costs of parking or garaging your vehicle when you are not using it. If you live in a climate where there is a lot of snow, you might consider snow tires to get around, that's another thing to think of. Also if you want a subscription to a service like AAA for emergencies, you need to consider that as well.
I'm sure there are other costs involved that I haven't covered, and the posters in this forum are pretty good at mentioning them. Also I'm sure they will have some good recommendations as to what vehicle might suit your needs as that is not my strong suit. It might help if you mentioned what you are looking for in a vehicle and the type ( 2 dr, 4 dr.) and what you are using it for , ( i.e. basic transportation, long distance travel, etc.) to make a better recommendation.
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