Are you thinking about buying a new car in 2020?
Will you be looking for finance when you do?
Then there’s a few important things you should know before you get the keys to your new vehicle.
The more time and energy you put into understanding the different types of car loans out there (and how the various factors will impact you over the duration of the loan), the better placed you’ll be to get the right vehicle under the right financial conditions.
The AA has some sound advice for those looking to buy a new car on finance.
And Loanplace has some of the best offers available for Kiwis looking for the perfect car loan.
Three Things You Must Understand Before You Sign A Car Finance Deal
The first thing you should work out is how much of your weekly budget you can feasibly afford to commit to making the repayments on your new car loan.
You should never borrow more than you can afford to repay — this especially goes for car finance.
Second, you should know your credit rating. This will help you ensure your loan provider is offering you a fair deal.
(If you’d like to know more about your credit rating and how to repair it, read our post.)
Thirdly, it’s vital you take the time understand the structure of the loan you are applying for.
Don’t get caught up in the excitement of buying your new car to the point where you miss important points about the loan agreement.
(Our consultants will always talk straight with you about the loan structure, your repayments and conditions.)
Found The Right Loan? Protect The Car You’re Buying It With.
A car is a vital part of life in New Zealand. But, it’s also prone to many unforeseen circumstances.
Cars break down, people have accidents or have their car stolen…
In some cases your financial situation might change and you may not be able to afford your repayments.
The good news is you can choose a loan provider that offers additional benefits like vehicle insurance, mechanical cover, protection against loss of value and even financial protection that means you won’t be stuck paying off a car you can no longer afford.
If you have any questions about car finance, get in touch with us on 0800 461 228 or email us directly at [email protected].
If you’d like to see how much you might be able to borrow for a new car…
