Buying your first car is an exhilarating experience. It’s the product of your hard work and sacrifices. All those years of saving up money and not eating out have finally paid off and you can reward yourself with the comfort of having a vehicle. However, there are things that you should know before you buy a car. The first one is, they’re liabilities. Yes, you heard that right. Vehicles are liabilities because their values do not appreciate. In fact, they steadily depreciate over time. Moreover, once you have a car, your expenses will steadily increase. So you better be prepared for that. This article’s aim is not to dissuade you from finally reaching your dream. It is best that you are prepared for the added responsibility of owning a vehicle.

There are 5 important things to consider before you buy your first car:

1. How will it benefit your goals in life? Getting your own vehicle is more of a desire rather than a need. If you have a family, it makes perfect sense so that you could bring all of them from one place to another.

2. How much can you spend on it AFTER you have purchased it? Aside from gasoline, registration and maintenance there are other expenses that are associated with owning a vehicle. One of them is insurance; an expense that’s required nevertheless.

3. Once you have figured out the first two, lets get to know exactly what kind of car you need. There is a reason why there are different car models and makes. Each one of them has their own advantages. Do you need a family van? Do you constantly haul stuff from one place to another? Do you live in a mountainous terrain? Are you an executive and would like a vehicle that would suit your image?

4. Consider distance. Do you go very far when you go to and from work? Is there ample and safe parking in your place of work? Will you save money when you use a car? One of the important things you need to know when you’re going to own a car is the ratio called miles per gallon. If you’re traveling across great distances, you might want to get a car that has great fuel efficiency.

5. Think about the environment. If you love nature, then get a car that’s not going to fumigate the entire neighborhood once you start it. Old diesel engines are susceptible to these kinds of problems. Newer models get better and better in managing this.

Having a car is a great joy as well as a great responsibility. If you think about the questions above, you’re bound to enjoy it more as you prepare yourself emotionally and financially.