After years of being chauffeured around by parents, siblings or friends, your teen finally has the freedom to go where they want, when they want, by acquiring their driver’s license. It’s a rite of passage that comes with a lot of responsibility – but also a lot of excitement. That said, when your teen is looking to buy their first car, there are a few vital things that they must first keep in mind.

Below is a simple guide that may help them with their selection.

1. The Purchase Price of a New or Used Car

Some parents feel that a new car is a better investment because it will have lower maintenance costs and will last longer. Others feel that a used car is a better option because it is less expensive, and teens are more likely to scratch the car (by mistake) anyway. There are pros and cons to both new and used vehicles, so weighing all options before deciding is important. The price of a used car will generally be lower than the price of a new car of the same brand and model. However, some used vehicles may be more expensive than a new car of a different brand and model. If you compare the price of a new car of the same brand and model to a used car of the same brand and model, the used car may cost lower than $5,000.

2. The Car Insurance

Car insurance is an annual cost that drivers in Canada must budget for. The amount paid for insurance varies by province but typically ranges from $700 to $1,800 per year. Insurance protects drivers and others on the road from legal liabilities and financial damages. There are things that teens may consider to get the best insurance rates, even if they can’t control where they live:

Compare insurance providers and their prices
Go over the specific coverage that you need
Note that cars with adequate safety features have lower insurance rates
Remember that used cars have lower rates, as it’s not as expensive to replace

3. The Gas Prices

This means that you should plan on your teen spending a certain amount of money on gas each month. This amount will vary depending on how much your teen plans to drive and where you live, but it is always better to overestimate than underestimate when budgeting. The size and fuel efficiency of a car will impact how much gasoline the car will need and, therefore, how much the driver will spend on gas.

4. The Vehicle Registration

After purchasing a car, you will need to register it with your province. This process requires a safety inspection/certificate and has costs that vary across provinces. The cost ranges from $60 to $200 per year (except in Ontario) plus sales tax. If you have unpaid fines or parking tickets, you must pay them before registering your car.

5. The Car Maintenance

The cost of owning a car goes beyond the initial purchase price. There are also ongoing costs for things like gas, insurance, and maintenance. These costs can vary depending on the make and model of the car. If you have a car with a warranty, you may only need to budget $25 per month for maintenance. However, if your car is no longer under warranty, you should budget at least $100 per month to cover unexpected repairs.

Conclusion

There are a few important things that all teenagers should keep in mind when buying a car. First, they must have a clear budget in mind. Second, they must research the different types of available cars and find one that fits their needs. Third, they should get a reliable car with a good warranty. Finally, they must take their time when making this decision and not rush into anything.

If you are looking for a reliable auto dealership in Coquitlam, BC, look no further than our amazing offers here at AroGill Auto. We are committed to delivering quality, safety and innovation. We have been doing business for over 20 years, and there is no car we cannot get for you. Check out our website for more of our available car sales and prices.