10 things first-time car buyers need to know

If you’re thinking about buying or leasing your first car, you may not know exactly where to start. While you may want to head straight for a dealership, that’s typically not the best first move.

We’ll cover things first-time car owners need to know about the pros and cons of buying versus leasing, how to get the best deal possible and ways to pay for your new ride.

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Never go car shopping until you know what you can afford

A good rule of thumb is to keep your car payment at no more than 10% of your net pay.

Your credit plays a significant role in your monthly payment

Once you have a price range in mind for your vehicle, checking your credit is a good idea.

Car reviews are critical to consider

While you might be dreaming about buying or leasing the best-looking car, be sure to browse reviews on popular automotive sites.

Research car loans to find the best offer

To get the best rate on a car loan, you need to do your homework.

Always avoid getting upside down on a car loan

Consider buying a vehicle that holds its value, so it’s worth more if you decide to sell it.