Tips on Buying your First Car

Making a list of your income and outgoings ahead of buying your first motor may help you to save money in the long run.

In addition to buying your vehicle, there are a range of other costs to consider, such as vehicle registration tax, motor tax and carinsurance. Young drivers ought to be very careful when deciding what kind of motor they can afford as their premiums are generally the highest. Figures show that vehicle collisions are more likely to involve motorists from younger generations, and as policies are affected by the age and size of your car it may be a good idea to go for a model with a smaller engine, for example.

The two main ways of purchasing cars are via private sellers and recognised dealerships. Both have their advantages and can affect your finances in different ways. Buying your vehicle from dealers is one of the safest ways to purchase your new wheels, due to Ireland's strict consumer regulations. Firms in Ireland are legally obligated to sell you items that adhere to certain quality standards.

These rules mean that products should function satisfactorily and issues about their performance should be raised before they are sold. If this is not the case and your car fails because the retailer was not adhering to regulations, then your funds may be returned or you vehicle could be fixed free of charge. If you find the perfect car but you are unable to afford it, dealerships may offer you the chance to buy it on hire purchase.

This could suit your pocket better than paying one lump sum, though you are advised to check the seller is recognised by the National Consumer Agency if they are offering credit. As you consider buying a motor from a dealer, check how much you will pay in motor tax and car insurance, as well as Vehicle Registration Tax, if your wheels are new or imported. You may be able to afford a more expensive car on hire purchase, but it is recommended that you check how much it is to insure, as costlier vehicle parts can equal higher premiums.

As a younger driver concerned about higher policy rates, you might prefer to opt for a smaller second hand car via a private seller. Many drivers find vehicles sold by individuals are cheaper than similar models offered by dealers, as the former often requires a quick sale. Before purchasing, you can do a data check to see whether the motor is currently under a hire purchase deal that has outstanding payments, or if it has been stolen.

If you were to buy a vehicle under these circumstances it is likely to be seized at some point by those concerned. Consumer laws that protect you when buying a vehicle from a recognised trader do not apply when you purchase a car from an individual. If the motor develops mechanical faults after you have bought it you are liable for costly garage bills. For this reason, it is advisable that you get it checked over by a mechanic before you hand over your money. 

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