Hot Wheels - How to Buy a Car the Smart Way

Though there are several scholarships for college students, that still won't necessarily cover all of your tuition, books, living expenses, food, entertainment, the list goes on! So the idea of needing to save up money for a car may be overwhelming. If you are fortunate enough to go to college in New York, Chicago or Boston, though it may not seem as convenient, you have access to a pretty efficient public transportation system. If not, then having your own reliable set of wheels to get to and from school and work, in a safe manner, becomes a necessity. 

Now, unless you have parents with a great deal of expendable income just lying around, you have savings, or you're a trust-fund baby, you can't just march down to the Mercedes dealership and take your pick! Buying a car requires a great deal of time, research and if you're smart about it, you'll invite as many friends and family members who have experience with the buying process, to be involved to ensure you make the right decision.

Cars are an investment that never give back. They are a complete money pit, and lose value so fast, it'll make your head spin! Unless you're purchasing a 1927 Model T Ford, you'll be lucky if you get half of what you paid for it when the time comes to throw it on Craigslist. So it's important to examine what kind of car you'll need, to make sure you're not wasting your money.

1) What is the climate you live in, how is the car being used for and how far will you be traveling with it? This will help you determine what type of car and what brand is going to meet your needs. If you live in a Seattle where it rains 9 months of the year, buying a convertible is ridiculous! And if you live somewhere where you'll be sitting in traffic, buying a gas-guzzling Cadillac Escalade is just going to eat up all your cash. If your commute is relatively quick, it's perfectly acceptable to purchase an older vehicle, as they tend to have better short distance mileage. If it's far, consider a barely-used or new vehicle.

2) Approach family members who might be trying to get rid of a vehicle. Not only are they more likely to give you a better deal on a vehicle, but they'll be more up front about the history of the car. They'll let you know if the vehicle's been in any accidents, or what work has recently been done, and what work is likely needed in the future.

3) Check out websites like consumer report websites to research which vehicles perform better. They'll educated the buyer on reliability, fuel mileage, car safety overall consumer satisfaction. It's important to weigh the pros and cons of purchasing a particular brand of car. Students shouldn't have to worry about driving a lemon. Their time should be preoccupied with getting good grades, being successful and having fun!