The process of buying a new car can be expensive and time-consuming, and unless you are well-prepared, there’s a good chance you’ll end up paying much more than you need to. We know that a new car is a significant purchase, and we’re here to help make sure that you get the best deal possible so that you can fully own your new wheels as soon as possible. Here are 3 ways to get the car loan that best suits you:
Budget, budget, budget
Like with most financial aspects of your life, it is incredibly important to create a budget before you head to the dealership. Without a clear idea of how much you can afford to spend, you leave yourself susceptible to persuasive car salespeople who may try to convince you to purchase a car that you can’t afford. Take the time to sit down and work out what you can afford to repay each week, taking into account other expenses, as well as the extra costs associated with owning a car.
Time your purchase to perfection
Unless you’re desperate for a car and need to get on the road as soon as possible, it’s worth waiting until the perfect time of year to purchase your new wheels. The best time to buy a new car is at the end of the financial year, as many dealerships push for sales before they have to close their books for the year. The end of the month is also a good time to buy, as car salespeople are required to reach certain sales targets each month, which means they may be more likely to negotiate a better price in order to secure the sale.
Shop around for the best loan
Many car dealerships will offer finance when customers come shopping for a new car, but while it may seem convenient to utilise, they may not offer the best deal. You’ll have better luck finding a good loan if you shop around with other lenders, such as banks or financial institutions beforehand. Once you’ve been approved, you should then go shopping for your new car. To check out the car loans we offer here at EasyPlan Financial Services, click here.