Everyone looks back fondly on their first car as a new driver. It may not be the flashiest vehicle you ever drive, but it will hold an important place in your heart as your very first automobile and the vehicle that provided so much independence. Of course, it is an enormous investment to make, but there are a few different purchase options for new drivers to consider.Buying Outright
The first purchase option involves buying the vehicle outright. Buying second-hand is much more affordable and can be wiser than buying new, plus you also have an enormous market to shop from. The benefits of buying outright are that you will instantly become the owner of the automobile, you will not have to worry about repayments and you should be able to find a good deal on a great car if you know what you are looking for.
The drawbacks of buying outright are that it can be a huge expense upfront, the used car market can be dangerous and depreciation will be a factor (especially if you buy new).
Many new motorists are now looking at finance options as a purchase choice. This involves paying a deposit on an automobile and then making monthly payments till the end of the agreement (often 2 or 3 years). At the end of the agreement, a personal contract purchase would allow you to make a balloon payment and then own the automobile. Many motorists find this beneficial as you do not have to pay a huge sum upfront and this makes it easier to manage your finances.
As an alternative, personal contract hire is a long-term lease where you simply return the automobile at the end of the agreement and then can take out another on a newer automobile.
Just Add Fuel
One fantastic new purchase option is called Just Add Fuel and is available from RRG Group. Available to drivers aged 18+, it is a finance package that incorporates three years worth of insurance, warranty, servicing, car tax and roadside assistance into a fixed monthly payment. As the name implies, this simply leaves you with the expense of fuel. It can be hard to manage all of the different payments and this is often overlooked by new drivers, but this helpful purchase option makes it much easier and more manageable.
These are the main options to consider for new drivers when it comes to purchasing an automobile. The best option for you will depend on your financial situation and the type of automobile that you want, but it is good to know that there are different options available to you.