Celebrate the next chapter of your life with a new ride
Buying your first car is a milestone that often comes after you’ve graduated or landed your first fulltime job, though that pattern may be changing as students and recent graduates rethink their transportation needs due to safety concerns or because their plans were altered by the coronavirus pandemic.
Regardless of shifting timelines, most young adults will graduate to buying their first car.
For Natalie Rinschler, that day came about a year into her first post-college professional job. “This was my first ‘adult’ purchase,” Rinschler said, who considered advice from her father as she narrowed her choices.
Use digital tools to make car buying easier
Doing research online is a worthy substitute if you don’t have a car savvy parent. You can visit automotive industry resources, manufacturer websites and read consumer reviews to save time and shop comfortably from home. Rinschler, who was choosing between two brands, went online to view current inventory and to read more about the features of the different models.
"Doing as much as you can online isn’t just about saving time,” says Lesley Corydon, Marketing Director for Chase Auto. “Since the coronavirus pandemic began, more consumers are opting to complete some or all of the car buying process online for safety as well as convenience.”
Recent graduate JP Salopek completed the entire purchase of his new car online. Salopek was moving from Columbus, Ohio to start his first post-college job in Dallas, Texas. “I didn’t want to drive all the way to Dallas,” Salopek said, “so I bought the car online from a dealership in Dallas before I moved and picked it up when I got there.”

Many dealerships are offering new digital features that make online car buying even easier than before.
Rinschler went to the dealership in person when she bought her car but completed her financial information online the day before to save time at the dealership.
“Many dealerships are offering new digital features that make online car buying even easier than before and are working with their customers to tailor their car buying experiences,” Corydon said.
Chase Auto offers a suite of digital tools and resources to help customers purchase a new car from the comfort of home and even a way to check the value of the car you’re currently driving.
Prioritize your search based on your budget
When you’re researching cars, you’ll want to consider your budget, what your lifestyle requires and your other transportation options – like ridesharing or public transportation. If you decide to buy a car, compare your favorites by their cost, safety ratings and features such as seating capacity, miles per gallon, and value retention.
“I knew that I wanted my monthly payment to be below a certain amount, so that helped me to narrow the price range for my vehicle,” Rinschler said. “The car I ultimately decided to go with came with everything I was looking for, such as great safety features and good gas mileage.”
Corydon recommends spending no more than 15 percent of your monthly income on your car. If you have debts beyond a mortgage or rent, keep car expenses closer to 10 percent each month. Remember to budget for gas, insurance, regular maintenance and emergency repairs.

You can save time and heartache by realistically considering what you can afford and how you’ll be using your car.
College graduates also need to build any student loans they have into their overall budget. About 43 million Americans owe approximately $1.5 trillion in federal student loan debt, and if you're one of them, you may wonder how a car fits into your finances and what your monthly payments should be. Corydon recommends getting prequalified for a loan before you go to a dealer so you’ll know how much car you can afford.
“Dealers often see first-time buyers spending time on cars that don’t fit their budget,” Corydon says. “You can save time and heartache by realistically considering what you can afford and how you’ll be using your car.”
If you have your heart set on a car that’s out of your budget range, you may want to consider pre-owned vehicles which often come with extensive warranties—watch for recent model years and lower mileage. Or, set up an automatic savings account to build up a larger down payment before you buy.
Give it a spin—or not?
Traditionally, car buyers take a couple of cars for a test drive after they’ve narrowed their search online.

Ask your dealership if they have a flexible return policy that will allow you to pick up your vehicle, drive it for a few days and return it or trade it if it’s not the right fit.
In today’s market, alternatives to the physical test drive are becoming more prevalent. “The coronavirus made it necessary for dealers to adopt digital solutions,” Corydon said. “They suddenly needed to be able to remotely process paperwork, collect signatures on contracts, arrange for vehicle deliveries and more. Many were already moving in that direction, but their pace quickened—and these changes are here to stay.”
Ask your dealership if they have a flexible return policy that will allow you to pick up your vehicle, drive it for a few days and return it or trade it if it’s not the right fit.
But chances are, if you’ve done all your homework in advance, you’ll have chosen the perfect car to fit your lifestyle and budget and there won’t be a need for you to return your vehicle–you’ll be too busy enjoying your new ride.