Business Daily Media

Choosing the right car with car finance

  • Written by News Company



Made the decision to get a car with car finance? Congratulations! It’s an exciting journey that you’ve started on and one that will hopefully result in you getting the vehicle that you want and need to get from A to B.

Choosing the right car with car finance can be daunting but follow these top tips to help you decide the best option for you:

  • Figure out what you need

If you’re a family of 5 you’re obviously going to have very different needs to a single person or a couple who simply need a car to zip around the city or get out and about at weekends. Working out exactly what you need in terms of size and functionality from a car will help you figure out the right car finance options you should consider. You’ll also want to think about things like whether you want a manual or automatic car and what sort of fuel economy you’d prefer.

  • Know your budget

This is essential as you need to know how much you can afford to spend on your car finance. Figure out your monthly income and expenses and work out how much you can dedicate towards a car loan. It’s really important that you don’t overstretch yourself financially and you’ll need to always remember to budget for other costs associated with your car such as running costs and insurance.

  • Research interest rates

Understanding interest rates and how they can affect the overall amount you’ll pay with your car finance can help to save you a huge amount of money in the long term. You need to consider whether you want to have a fixed or variable rate of interest – this will probably be determined by the flexibility of your budget and whether you want to know exactly what your repayments will be each month. Always ask for expert help if you’re unsure before committing to an interest rate.

  • Ask for a test drive

You shouldn’t be afraid to ask for a test drive if you’re buying from a dealership or a private seller. Getting car finance is a big commitment and you need to make sure that you’re entirely happy with the vehicle that you’ll be getting. Often it can be a different experience driving it on the open road to simply seeing the specifications on paper.

  • Understand the different types of car finance

There are so many car finance options and it’s highly likely that there will be one that suits you – you just need to hunt for it. Whatever your current credit rating or employment status, car finance options can help to make the most of the situation that you’re in and even provide you with tax benefits. Take the time to understand the different options, ask for expert help and make the right car finance choice for you.

Business Reports

EOFY explainer: Everything your business needs to know about the instant asset write-off

Australia has long been renowned as a rich and vibrant small business nation, where entrepreneurialism is encouraged and celebrated. It has, however, been a challenging period for small business owners, and the transition from o...

Brand Expert Shines in Business Awards

Sydney multipreneur Zahrina Robertson, who is known for producing world-class visual assets, has been named a finalist in the North Shore Local Business Awards. The founder of Zahrina Photography & Video[zahrinaphotograph...

New Image acquires Nutrimetics from Tupperware Brands

New Image Group has acquired skincare and cosmetics brand Nutrimetics from Tupperware Brands Corporation (NYSE: TUP) for an undisclosed sum. Nutrimetics is a natural fit with New Image’s portfolio of health and nutrition prod...

Save, spend or invest? New offering allows Aussies to maximise their savings

With the turn of a new financial year, Australians are at a loss of how to make the most of their tax refunds this year with rising costs of living and low return on savings. The Australian Investor Sentiment Report 2022 reve...

Commercial Painting Revitalised Shop Fronts and The Economy – Why Did the Funding Dry Up?

State governments provided retailers with grants to revitalise their shop fronts in a bid to help the ailing industry. The $2000 - $10000 grant aims to ‘add a lick of paint” and some street appeal to retail outlets not onl...

How to Succeed as a Call Center

If you aspire to build a productive and prosperous call center, you need to begin from the zenith or top. After all, your workforce won’t be able to create a positive experience for your customers if they’re not managed pr...

Web Busters - Break into local search

WebBusters.com.au