Buying Your Teen’s First Car

As a parent, one of the greatest gifts you can provide for your teen is a safe, reliable first car. Whether you’re helping them pay for it or buying it for them outright, shopping for your teen’s first vehicle is an involved process with a variety of different aspects that should be taken into account. The experts here at Indy Car Financing created this helpful buying guide to make that process a bit easier!

Look for Reliability

Vehicles these days seem to be lasting longer and longer. A recent study revealed that the average age of a car on the road today is about 11 years old. That means it’s entirely possible to find an older vehicle that’s just as reliable as a newer one, provided that you do your research. Focus your research on vehicles with low maintenance requirements and repair incidents. You’ll also want to find a model that has been well maintained if you’re shopping used.

Focus on Safety

When it comes to buying a safe car for your teen, there are numerous factors to consider. Some parents might see a larger car as a safer investment, but that isn’t always the case. In addition to vehicle size, explore crash test ratings and safety features offered. Organizations like the National Highway Traffic Safety Administration and Insurance Institute for Highway Safety have rated a broad spectrum of cars and their crash test scores are respected throughout the industry.

Make Your Budget

Now that you have a better idea of what type of car you want to buy for your teen, establish a budget. Take into account the initial cost to purchase the vehicle, its cost of ownership, and variable expenses like repairs, gas, insurance, and other upkeep costs. If you’re looking to save as much money as possible, look into purchasing a used vehicle and research accordingly.

Set Clear Expectations

It’s essential that your teen knows what your expectations are when it comes to driving and maintaining their vehicle. Create boundaries and make sure that your teen knows how important an automotive investment is. This will ensure that his or her first car will last as long as possible and will give you the peace-of-mind every parent needs!

Choose Indy Car Financing when Buying a First Car for Your Teen

If you’re in need of proper auto financing in the Indianapolis area when purchasing a vehicle for your teen, let Indy Car Financing help! Give us a call at (855) 468-6215, and submit an online credit application to get started on your financing journey today.