Student Survival GuideStudent Survival GuideUniversity of Toronto
January 30, 2012 4:37 PM | By Mark Atkinson for MSN Autos
Twelve tips for buying your first car

A dozen priceless pearls of wisdom to consider before picking up your new keys



A dozen priceless pearls of wisdom to consider before picking up your new keys (© Photo: Scott Heiner/iStock Vectors/Getty Images)
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  • A dozen priceless pearls of wisdom to consider before picking up your new keys (© Photo: Scott Heiner/iStock Vectors/Getty Images)
  • It's a big-ticket item (© Photo:)
  • Get your priorities straight (© Photo: Alto/Laurence Mouton/Getty Images)
  • How much can you afford? (© Photo: Vstock LLC/Tetra images/Getty Images)
  • Determine your overall financial health (© Photo: Alto/Laurence Mouton/PhotoAlto Agency RF/Getty Images)
  • Factor in the cost of insurance (© Photo: Stockbyte/Getty Images)
  • Consider your car payment schedule (© Photo: Adam Gault/OJO Images/Getty)
  • Lease vs. finance (© Photo: Don Klumpp/Iconica/Getty Images)
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Buying your first car can be a harrowing experience. With so many questions about models, costs, insurance, reliability and financing to answer before you even set foot in a dealership, it's often very overwhelming. It's amazing anyone goes through with what is inevitably the second-largest purchase of their lives considering you can fall into a financial hole if something goes wrong. It also explains why some people give up and buy something that doesn't necessarily suit their needs and ends up being a sour deal.

We feel your pain. That's why we've assembled a dozen priceless pearls of wisdom to keep already financially conscious young adults from going from nearly broke to perma-broke.

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2Comments
Mar 15, 2012 9:45PM
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They state your credit score is not affected by checking your score. That's not entirely true. When shopping for a car you can check your score 7 times in two months and you score will not be affected. The eighth time you will lose 2 pts. If you apply for a credit card or other credit while shopping for a car you score will also go down. Make sure you check both Equifax and Trans Union , because they are always different. Most banks use Equifax.
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