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How much should a first car cost?
I’m going to buy my first car soon and I’m not sure what I should expect to pay. How much do I need to put aside to buy a car? I don’t want to visit a dealership and find out I’m not ready to buy one yet.
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Buying your first car
can be really stressful, so it’s great that you’re doing your research first! However, the cost of your first car is entirely up to you and will depend on factors like:- The kind of finances you have at your disposal
- Whether you want a new or used vehicle
- What qualities you value in a car
With that being said, most people pay between $5,000 and $10,000 for their first car. You can also definitely buy your car on loan instead of paying the full amount outright, but you should still try to
make a large downpayment
so that you’ll be offered better terms on your loan agreement.Keep in mind that there are other costs associated with a new car, too—like car insurance Luckily, finding an insurer is easy with the
Jerry
app Just download the app and answer some quick questions to see policy quotes customized for you and your needs.View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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