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Guide to Purchasing Your Teen’s First Car

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I can’t believe that in just three years, I will be purchasing a car for my oldest son. A good friend of mine just went through the process of purchasing her daughters first car, and shared some great advice from her teen car buying experience.

Age of Your Children
Just because your kids are turning 16, it doesn’t necessarily mean that they are ready to get behind the wheel of their first car. Access if your child is mature and responsible enough to take the big step of driving back and forth to school, and being on the road with other drivers. My friend allowed her daughter to get her license at the age of 16 but waited a couple of years before purchasing her first car.

Shopping
Car shopping can be a frustrating part of the process for many parents. First, begin by looking at your price range. ECCU evangelical credit union offers auto loan and payment calculators to help families with estimating their monthly payments before car shopping. Once your budget has been established, look at the different car safety ratings, fuel economy and consumer reports. Make your teen a part of the car buying process. Your teen can learn valuable tools to help them later in life by being a part of the whole car buying process.

Financing
The biggest factor to look into when purchasing your teen’s first car is the financing. The different offers available can be overwhelming, and I encourage families to shop around to find the best auto loan to fit your family needs. Don’t just look at your local bank and the car dealer financing, but also consider credit unions who can often offer lower rates than average banks. For faith-based families, ECCU now offers pre-approved auto loans for easier, hassle-free shopping. ECCU offers families a long-term relationship, and since they are a nonprofit, the representatives working with families are not compensated for selling a loan.

Is your family ready to start the process of buying a new car? Come join us on Saturday, September 5th from 9 am to 6 pm at Galpin Motors in North Hills. Families can shop from over 5,000 new and used vehicles while taking advantage of current factory incentives. Plus, ECCU members (current and new) will receive oil & filter changes for the life of their loan. Not a member yet? Sign-up before or at the event to receive all member offers.

When: Saturday, September 5th from 9:00am-6:00pm
Where: Galpin Ford 15505 Roscoe Blvd., North Hills, CA

Your first teen car buying experience doesn’t have to be a stressful time, but a great financial, educational experience for your teen while bringing your family closer together.

ECCU

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