Are your preparing your teen for the road ahead? The transition of purchasing a car for your teen can a tough process for any parent, but there are still a number of factors to account for when teaching your kid to shop for a car. In the guide below, we will be talking about the top five things your kid should know about buying a car.
Car Buying Tips for Teen Drivers:
- Do Your Research
Before shopping around for cars, you should always do research on the dealership, car, and car loan you are looking for. Before heading to a dealership, it’s important that you look up their reviews and review what kind of loans they accept. Car wise, you should check what car year you can afford and what car model is the most durable for what kind of driving you will be doing. If you can’t purchase a car directly, you should look for a car loan from your bank or the dealership itself.
- You Will Need a Cosigner
In case you need to take out an auto loan or are leasing a car, you will need a cosigner since their credit is too young and some dealerships require co-signers for younger drivers. However, it’s important that the cosigner has good credit and has the ability to back up your kid in case they ever miss a payment.
- Find a Trusted Mechanic
Not sure where to look for repairing your kid’s new car? Before even purchasing or leasing a new car from a dealership, you should find a trusted mechanic you can visit for all your car needs. Hopefully, you have one yourself, but if you don’t, now is the time to do so. It’s important that you find one that has honest pricing and isn’t a brick and mortar location. Your mechanic should be experienced and honest with repairs, so be sure to check out online reviews of their business as well.
- You Will Need to Re-Register Your Car Every Year
Re-registering your car is easily an overlooked process, but needs to be done every year. Luckily enough, there are online resources, like eTags, that you can take advantage of that makes re-registering your car an easy process, not to mention, it is cheaper as well. The last thing you want is to spend a week waiting in line at a DMV.
- Compare Quotes for Car Insurance Providers
Depending on where you live, car insurance may be mandatory. If not, it is still a good thing to have. In order to find the lowest rates, you should compare quotes from multiple insurance providers.
Buying a car is a huge responsibility. As a parent, you need to ensure that your teen is fully prepared to take on this challenge. By listening to these five things, your teen will be well on their way.