Barriers to getting your fist car

Since you have never bought a car before, here are the barriers and concepts you must keep in mind when car shopping:

• Lack of credit history is the biggest barrier, it is very difficult to get a car loan
• Some car salespeople will rake you over the coals if you are a first time car buyer
• Lenders won't approve car loans on used cars older than 5 years
• Insurance rates for teens especially are very costly, often in the $5000 range
• Insurance rates for single males under the age of 25 are also very costly
• Now you have to deal with car repairs and other maintenance costs, new tires, etc.
• Safety perspective: Teen driving safety issues

Let's examine some of the above barriers to buying your first car in more detail: