Buying a new car is an exciting purchase, but at times it can be a little daunting if you aren’t familiar with the process. However, with a few handy tips on researching and financing up your sleeve, you’ll be cruising in no time.
Firstly, you’ll need to decide on your budget, as this will affect the rest of decisions you make about your car purchase. Then you will be ready to research what make, model and year you’d like to buy. Spending some time researching first can save you a lot of heartache, and money down the road. A great place to start is with a car buying resource such as Money Smart, which documents the many considerations you need to factor in when looking to get on the road.
At this primary level, you’ll want to consider not only the immediate use of the car but also any major plans you have. For example, if you’re planning on taking up surfing, or having a child, you’ll need to take these things into consideration as they will affect the type of car you will need to buy. Remember, always buy a vehicle for your future requirements!
Once you’ve got your eye on a few models, you’ll need to research a range of car prices before negotiating with a seller. A good place to start is with a resource such as Red Book as their research tool allows you to determine fair prices across new and used vehicles. You may still wish to negotiate to get a better deal however it does help to be well researched before you start to negotiate with individuals who will all too happily take your money.
It is also important to calculate the additional ongoing costs that you need to run the car, such as insurance, registration, fuel and maintenance and servicing fees. While these costs might seem like a lot to spend at once, the good news is that you have options, such as getting a loan for your car purchase.
While there are many businesses that offer car loans, not all are created equal, and you can easily get caught out, so for this reason it’s safest to go with a reputable company. You may want to consider a stratton car loan as they are one of many vehicle financing specialists that offer competitive packages from a panel of lenders. They provide car loans to thousands of Australians every year, and are one of the largest vehicle finance brokers in the country. Working with professionals allows you the freedom of choice with your finance packages, and confidence that you will receive unbiased service that is tailored to your needs.
Going with a loan is a great option as it provides several benefits to you, the buyer. It is by far the most convenient option, as your professional consultant will compare all your deals and find the best solution for you. They will streamline the whole process, providing instant finance quotes, approvals and pre-approvals; often with same day settlement.
Have you purchased a vehicle in recent months? Please feel free to share your purchase tips below.