Buying your first car? Here's what you need to know

This video tutorial guides first-time car buyers through the process of purchasing a car. It emphasizes the importance of budgeting, suggests spending no more than 10-15% of take-home pay on car payments, and highlights additional costs like maintenance and insurance. The tutorial advises getting preapproved for a loan to understand borrowing limits and interest rates. It encourages negotiation and shopping around for better loan terms. Finally, it discusses choosing the right car based on personal needs and budget, stressing the importance of following these steps to avoid financial strain.

What should you consider when determining the right car for you?

What could happen if you do not stick to your budget when buying a car?