Automotive Articles

Buying a new car will probably be one of the biggest financial commitments you will make in your life. But there are many things you can do to lessen the financial impact and get the car you want at a price that will make you smile.

1)    Before you start to take a few cars for test drives, get your finances sorted out. Many car dealerships will try and temp you with their own financing plans, but these may not be the most cost effective. Shop around and find a financing source that is providing the best deal.

2) Provide as much as possible as a down payment. The bigger the down payment you provide the less you will need to borrow. The more you can pay up front the less you will need to borrow and the lower your monthly repayments will be.

3)    If you have bad credit get a co-signer. If you have a bad credit rating you will run into problems when looking for car finance. You may find a source of cost effective bad credit car loans but another option is to get someone with a good credit rating to act as a co-signer in your application.

4)    Get the most you can for your old vehicle. Trading in your current car can give you a good deal and save you the headache of selling your current car. Get the most you can for your old car by giving it a good clean, making certain it is serviced and that you have the service history.

5) Shop around, haggle over price and look at alternative financing choices. The economic downturn has meant that there are some incredible bargains in the automobile industry. Car sales people want your business so you can use this to your advantage. And it’s worth looking at other financing options. Car leasing is a great way to get the car that you want for a reasonable down payment and affordable monthly repayments. If you are looking for a commercial vehicle you might want to consider van contract hire to provide your business with what the transport you need.