Getting your license and buying your first car is an exciting time. It is also a huge financial decision, so you want to make sure you go about it in the right way. As an all-around car enthusiast, Jason Grzesik has worked as a car consultant, helping costumes find their perfect vehicles. Today he shares some tips for purchasing your first car.

  1. Know your budget. How much can you afford to spend on a car? The general rule is that you should spend, at most, 10-15% of your income on a car.
  2. Once you figure out a budget, it is time to do some research. Kelley Blue Book is a great tool to find out the price of cars, so start your search there. Then, look into different dealerships in your area.
  3. Generally, it is better to buy a car rather than lease it but do some research into what the best option is for you. 
  4. Buying a used car will probably be your best option as a first-time car owner. The value of new cars depreciates rapidly and will lose 10% of its value as soon as you drive it off the lot.