Between purchasing, financing, registering, insuring and maintaining an automobile, it's no secret that buying a new or used car can be an costly experience. This can be especially true for first-time buyers who may be inexperienced in such financial dealings. However, this does not have to always be the case. There are several ways individuals can reduce the expenses of owning a car, and according to The MetroWest Daily News, it is not that difficult to do – all it takes is some dedication.

Of course, the most obvious initial cost is purchasing the car, but this can certainly be mitigated by doing plenty of research. Experts say that looking into what your needs are and which car, whether it be new, used, SUV or sedan, best fits them will go a long way in limiting costs. Furthermore, there are plenty of channels with which prospective buyers can gather information about how much their ideal vehicle costs. Coming prepared with the knowledge of how much a certain car should be going for will ensure that you get the lowest possible price.

Financing also plays a large role in the entire cost of a car, and for young first-time buyers it can be extremely important. According to the news source, they should be on the lookout for hidden high interest rates and instead may want to turn to credit unions that offer fair interest rates.

Insurance for young drivers is usually pretty costly, the news provider reports, but there are ways to help lower the expenses. In particular, it all depends on which company to purchase insurance from. The best way to find out which company is best-suited for newer drivers is to check with local independent agents. Also, drivers should be sure that the amount of coverage meshes with the value of the car in the first place.

Additionally, the news source reports that many younger drivers may not take into consideration the fact that there are many costs that go beyond just the initial purchase. When a car breaks down, repairs can be especially costly, so it would behoove first-time buyers to take great care in maintaining their purchase. Specifically, checking the oil, tire pressure and regular waxing are all easy to accomplish and will not only save money in terms of regular check ups but will ensure the car stays in good shape for years.