Cars are basically essential, so it’s a shame that so much can go wrong with them. Whether it’s buying a money-draining lemon or discovering your insurance only partially covers you for damage from a crash, those four wheeled hunks of machinery sure know how to eat up your cash!

If you’ve found yourself in a situation where you're going to buy a car then we have plenty of advice to help you get it right...

Step 1: Sort the $$$
Unfortunately most of us don’t have cash reserves at the ready when we come to buy our first car or suddenly have to upgrade a not-so-trusty current model. You’re always going to get the best deal going through a bank and to ensure your loan application is more likely to go through it pays to build up a savings record. Aim for 10% of your pay for at least 6 months prior to applying. For everything you need to know about a personal loan – from how much the repayments will be to what you need to apply – just click here.

Step 2: Do your homework
Before you buy your first car or even if you’re replace an existing one, take the time to really think about what you need from your vehicle. Shopping with a list of requirements will narrow down your search and make the whole process much easier. When you’re ready to start looking at cars, don’t leave home without this Car Buying Checklist, which details exactly what to do and find out about.
 
Step 3: Safety first
Arm yourself with research so you can make an informed buying decision – you don’t want to get burned by a not so great deal. Click here for links to information on car safety ratings, road test reports and car reviews. You also need to make sure you know your rights, so that same page has links to consumer and fair trading information as well as info on going about a Vehicle Inspection Report and checking for outstanding fees against a car. It also points you in the direction of those all important change of ownership forms.

Step 4: Work out all your costs
What you pay for the car is just a small component of the costs of running it. Don’t forget to take all these into account when working out what you can spend. You need to think about the costs of registration, WOF and regular servicing – not to mention those unexpected emergencies like flat tyres (an AA membership is well worth the joining fee!). And whatever you do, don’t neglect insurance, even if you can only manage third party, it’s essential you have some sort of cover – you can get the full run down on all the options here.
 

Happy driving!

Gemma