Buying a Car on Your Own as a Student – What You Should Know

If adults have a hard time buying a new car, imagine students who don’t even know if they should buy a used or new one or if they should rely on their parents for additional funding for a better car!

In short, if you want to buy a car on your own as a student, things can get quite tricky. For example, if you buy a defective vehicle, there’s not much that you can do to return it. In such a case, a lemon car lawyer is essential and could help you solve all of your vehicle-related issues.

But this is only one of the many things you as a student should know when buying a car on your own!

Budget Assessment

Naturally, you want to be smart with your budget if you plan to buy a car without any help. For this, experts provide us with the following vital information:

  • Take into account monthly vehicle-related expenses as well, such as maintenance, gas, insurance, and so on.
  • Because of this, analysts recommend students should pay only around 25% of their monthly income in the financing stage.
  • Finally, students should also consider on-campus costs and fees – insurance, parking fees, gas, etc.

Choosing the Car

You should never choose a car solely based on visual appearance or its coolness factor. If you want to buy it on their own, these are some other things more important things:

  • Fuel efficiency
  • Performance
  • Cargo space
  • Essential features – heating, easily washable/cleanable interior, safety features.

New versus Used

The most challenging part is choosing between a new and a used car. Students often think that a used car will get them nowhere and is best used for short drives. But this is entirely wrong.

  • With new cars, you will get better and more advanced features at an increased cost (including insurance, gas, fees, etc.).
  • Certified used cars are the same as used cars, only that they go through an in-depth inspection to ensure dependability.
  • Used cars are known as affordable and, ultimately, come with the same primary benefits as a new car.

If you want to buy a car that won’t surprise you in the future, then a certified used car is the best option, as it comes with ensured dependability.

Test Drives

You shouldn’t buy a car without engaging in at least three test drives. During these, you should focus on:

  • Acceleration Performance – Make sure that it is comparable to the car’s specifications/characteristics.
  • Braking Response – Naturally, the braking system should be state of the art, even in used cars.
  • Corner Maneuvers – If it’s a model you’re not used to, make sure that you are comfortable driving it on narrow streets and so on.
  • Technology Features – If there are features that you’re particularly interested in, ensure that they all work properly and that you won’t have to take more money out of your pocket after you buy the car to fix them.

The Bottom Line

In the end, it all boils down to research and knowing about the model you plan to buy.

For example, you could visit a dealership and take the car you want to buy for a test drive and then compare a used car to a brand-new one. You’ll see if you are really willing to trade the lack of certain features or performance for extra cash in your pocket.